Hallie Kraus, CFP®, Private Wealth Advisor at Treehouse Wealth Advisors, recently contributed to the article, “Nearly Half of Gen Z Thinks It Can’t Reach The Middle Class: 9 Money Moves to Change That,” published in Yahoo! Finance.
Focusing on a recent poll showing that almost half of Gen Z thinks they will struggle to build wealth to reach the middle class, financial advisors were invited to offer money management tips. Suggestions included:
Track Your Expenses: whether using a spreadsheet or an app, tracking your expenses allows you to see if your spending matches your values. Don’t judge and instead remember it is just data.
Stick To A Budget: set personal spending policies. You could consider waiting a week before making a purchase or setting a monthly target for dining out.
Loud Budgeting: talk about money openly and without shame. Don’t be afraid to say I’m on a tight budget this month.
Start Investing: even a small contribution made regularly into a retirement account will harness the power of compounding leading to long-term benefits.
Hallie also discussed the importance of building good credit by paying your bill on time and keeping any outstanding balance low, being smart with your finances, and balancing thinking about your present with your future self. “Nobody is going to argue with you about the importance of money,” said Kraus, “ but at the end of the day, it’s just a tool.”
Treehouse Wealth Advisors is a fee-only wealth management firm based in the San Francisco Bay Area, serving innovators, legacy builders, and impact makers. The firm provides personalized financial planning, investment management, and wealth advisory services, helping clients navigate significant life changes while working toward fulfilling and meaningful lives.
