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The Business Advisory Blog

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Vanessa Williams
Published on

Plenty of time to shine with NZ Gen Z investing habits

ANZ BlueNotes article discusses the impact and characteristics of Gen Z, the demographic group born between the late 1990s and early 2010s.

Key points

  1. Generation Z is a diverse and socially conscious demographic group that values inclusivity, equality and social justice.
  2. They are digital natives who rely on technology and social media platforms for communication and information consumption.
  3. Generation Z exhibits unique financial habits, seeking financial independence, valuing financial literacy and being attracted to innovative digital banking services.

Generation Z, also known as Gen Z or Zoomers, has grown up in an era of rapid technological advancements and global crises, shaping their worldview and priorities. This generation has experienced significant events like the 2008 financial crisis, climate change activism and the COVID-19 pandemic, which have influenced their attitudes and aspirations.

According to the ANZ article, Gen Z is highly diverse and values inclusivity, equality and social justice. They have a strong desire for purposeful work and prioritise meaningful careers aligned with their values. Gen Z individuals are also portrayed as digital natives, heavily reliant on technology and social media platforms for communication and information consumption.

Gen Z has unique financial habits and preferences

They tend to be more cautious with money, given their experiences during the economic downturn and a more uncertain future. Gen Z is described as seeking financial independence and valuing financial literacy, as well as being attracted to innovative digital banking services.

The youngest members of Gen Z are in their early teens but the oldest are studying or working, many of them well into a career. For those working, many are on contract or freelancing. That offers opportunities and challenges – particularly given the higher cost of living.

What leapt out was that 20% of 18 to 24-year-olds said they were already aware of investing. Using the age group 18 to 24 as a proxy for Gen Z, ANZ Investments in New Zealand surveyed KiwiSaver investors and found:

  • 25% had increased their KiwiSaver contribution level in the previous twelve months
  • 12% had reduced their contributions
  • 14% stopped their contributions
  • 26% had made additional voluntary contributions
  • 23% changed KiwiSaver provider
  • 10% changed fund/investment type
  • 9% had withdrawn funds to purchase their first home.

Article first published as Plenty of time to shine. (July 2023) at

Topics: coronavirus COVID-19 digital disruption financial analysis Innovation Investment kiwisaver technology