Years of deficit spending are making it harder for Gen Z to build the kind of financial security earlier generations took for granted

Most of us baby boomers followed the education-job-marriage-buy-a-home pathway of life. For many of today’s “Generation Z,” roughly those aged 18 to 34, following that path has become much more difficult.

They acquire university degrees or trades certification and take entry-level jobs to gain experience, as we did. But for many, a combination of stagnant wages, rising taxes and relentless inflation makes owning a home seem an impossible dream. Three out of four Gen Zers struggle to save enough for a down payment.

Apart from inflation, there’s another reason they’re unsuccessful savers. Unlike baby boomers, Gen Z are profligate spenders, incapable of returning from the mall empty-handed. As the saying goes, they are their “own worst enemy.”

Current government spending is making it harder for young Canadians to build a stable future.Troy Media

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