Confronted with mounting pressures and uncertainties, members of the Era Z (Gen Z) in Singapore, born between 1997 and 2010 and at present aged 14 to 27, are extra financially cautious and prioritizing monetary independence and safety, in line with a brand new research by Visa.

The Visa research, carried out in November 2024 and primarily based on greater than 500 in-depth quantitative interviews with 560 Gen Z shoppers throughout 14 markets, reveals that just about half of Singapore’s Gen Z (47%) see attaining monetary independence and safety as a significant life purpose, considerably greater than the Asia-Pacific (APAC) common of 33%. This highlights the era’s heightened monetary consciousness and pragmatic mindset.

The research additionally exhibits that this inhabitants is deeply rooted in managing their funds, working towards aware spending and monitoring their bills. In truth, 34% of Singaporean Gen Zs get monetary savings every time they will, and near 40% of them see the significance of saving up for milestone occasions together with marriage, buying a house and others.

Nonetheless, solely 36% of Gen Zs in Singapore really feel assured in monetary administration, revealing alternatives for business gamers to shut the hole. Moreover, whereas most are snug with saving cash (68%), fewer are acquainted with investing (30%).

These findings recommend that many nonetheless lack publicity to extra superior monetary instruments that might assist them develop their wealth over time. For monetary establishments and fintech startups, this represents a chance to design merchandise and assets that demystify investing and which make monetary planning extra accessible,

Amongst those that make investments, shares and equities (27%) are the preferred, adopted by belief funds (16%), and cryptocurrency (14%).

Monetary warning is formed by broader challenges. 54% of Singaporean Gen Zs surveyed mentioned they fear about rising prices of residing, 45% are experiencing excessive ranges of stress, anxiousness and psychological wellness, and 42% are unsure concerning the macroeconomic circumstances.

Gen Zs and digital funds

The Visa research additionally highlights Gen Zs’ desire for seamless digital experiences. In Singapore, 41% want fast and handy cost strategies, a discovering which mirrors outcomes from a Mastercard survey, which reported that just about half of Gen Z globally favor revolutionary cost options, whereas 65% need to handle all monetary actions in a single on-line hub.

PayNow, Singapore’s real-time, peer-to-peer (P2P) funds switch service, is among the many most popular cost methodology for Singaporean Gen Zs, favored by 68% of respondents, in accordance to a 2024 survey by enterprise accounting software program supplier Xero. GrabPay is one other widespread possibility, with 29% utilizing the cell cost platform as an on a regular basis cost methodology.

Personalization additionally issues. In comparison with different generations globally, personalization is 1.31 occasions extra necessary to Gen Z shoppers when selecting a cost methodology, the Mastercard research additionally exhibits.

Social media and experience-driven spending

The Visa research additionally reveals that social media is strongly shaping Gen Zs’ monetary and purchasing habits, serving as each a discovery device and a belief validator. 40% of Singaporean Gen Zs have made a purchase order primarily based on seeing an advert on social media.

Instagram (62%), YouTube (57%), and TikTok (48%) are the place they spend extra of their time, making these platforms key engagement channels for manufacturers.

Gen Zs are additionally influenced closely by their friends. In truth, 30% of respondents began their funding journey as a result of their circle of pals began doing so.

Expertise-driven spending is one other hallmark. 70% of Gen Z players are actively spending on in-game purchases, subscriptions, and gaming merchandise. Equally, 67% buy music-related merchandise, with 81% doing so at dwell occasions.

Findings echo with Thailand

Findings from the Visa research in Singapore align with these in Thailand, the place monetary independence can also be a prime precedence for Gen Zs. 60% of Thai respondents recognized monetary freedom as a prime life purpose, with 31% saving cash every time potential with no particular plan, whereas 57% setting particular monetary objectives and plans to attain them.

Moreover, 81% are constructing wealth via jobs, facet gigs, or investing, additional reflecting a era that values long-term monetary safety.

Monetary literacy can also be on the rise, with 59% actively searching for data via studying or recommendation.

Thai Gen Zs present specific curiosity in digital instruments that simplify cash administration. Specifically, gamified financial savings, robo-advisors, and visible platforms, particularly on cell, resonate strongly with this demographic, the research discovered.

One other key discovering is the truth that Gen Zs intently hyperlink passions to id and development. 31% are pursuing hobbies reminiscent of cooking, sports activities, café hopping, and journey, to construct abilities or for private improvement, whereas 28% use them as a method of self expression.

For some, passions even grow to be pathways to earnings. 31% of these working towards monetary objectives earn via jobs, freelance work, or facet gigs, and 22% of scholars complement their earnings this manner.

Rising monetary insecurity

In Singapore, each Gen Zs and Millennials, born between 1981 and 1996, prioritize monetary independence over climbing the company ladder. In Deloitte’s 2025 International Gen Z and Millennial Survey, 26% of Gen Zs and 29% of Millennials cited attaining monetary independence as their prime profession purpose. As compared, solely 8% of Gen Zs and 9% of millennials contemplate reaching a management place as their main profession purpose.

Just like the Visa research, Deloitte’s findings spotlight rising monetary insecurity. For the fourth yr in a row, price of residing tops the record of considerations for Gen Zs and Millennials globally, rising from 29% in 2022 to 39% in 2025 for Gen Zs and 36% to 42% for Millennials.

Practically half of Gen Zs (48%) and Millennials (46%) don’t really feel financially safe, in comparison with 30% of Gen Zs and 32% of Millennials in 2024. Moreover, greater than half (52%) of each Gen Zs and Millennials reside paycheck to paycheck, and over a 3rd (37% for Gen Zs and 35% for Millennials) wrestle to pay their residing bills every month.

These youthful generations are additionally involved about their monetary futures, with about 40% of Gen Zs and Millennials indicating they’re anxious about their capability to retire comfortably.

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