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    It's Looking Like A Recession Is Coming, But Millennials And Gen Z'ers Have Veeery Different Takes On What This Means

    "Can't lose your house if you don't have one."

    Warning signs of a recession have been flashing for months.

    Millennials are all too familiar with the economic impact of recessions.

    So I posted a TikTok about how awful recessions are and got some...surprising responses from Gen Z.

    Screenshot from a TikTok that has text that says "Hoping for Recession?"

    Many members of Gen Z seem to not fear a recession because everything about their world is already hard.

    Older Americans invalidating the very real economic, climate, and social fears that Gen Z faces is causing a lot of them to feel like the system needs a complete overhaul.

    There are two main differences in how millennials and Gen Z see recessions:

    For Gen Z, this could be their first major recession while in the workforce. And true to their generation, many of them have a decidedly different approach to it than many millennials.

    Key Difference #1: Many Gen Z'ers Want a Recession

    They know that social shifts are coming and that they are a force of change.

    Gen Z has grown up with climate disasters, school shootings, political polarization, and feels like things are...well, bad. And they are not shy about voicing their opinions! Gen Z is already running for office because they are ready for change, and many of them see a recession as a chance for economic change.

    A recession feels like a chance to reset.

    "We know it’s bad for everyone, we’re just sick of being the only ones who [can't]  afford to live. Restart for everyone from an even playing field," said Tee...Lex in response to my TikTok

    Gen Z is also very aware of how much harder it is for them to reach milestones that their parents and grandparents had access to. It's hard to buy a house when prices in some markets have risen by 16% in a single year, but income hasn't.

    Gen Z thinks a recession could bring down the cost of living.

    For example, May 2022 was the most expensive housing market since 2006, says the Wall Street Journal.

    Gen Z'ers know they're getting priced out and want a recession to bring lower housing costs. "Can’t lose my house if I don’t own one 😅," says Dani in my TikTok comments.

    Meanwhile, for millennials, recessions are harbingers of doom.

    @EthanResists I hope you're right. I'm a millenial. We got the shaft. Graduating into a recession followed by a run up in housing that dwarfed increases in cost of living while also being blamed for ruining everything. IMO Gen Z got it worse.

    Twitter: @ljtcpa / Via Twitter: @ljtcpa

    "Millennials should know better, hello 2008, when we were graduating college we couldn’t get a job with our degrees. Gen Z should take note of this," Eve Rien said on TikTok.

    Key Difference #2: Gen Z Feels They Have Nothing to Lose

    However, some millennials *finally* have skin in the game

    Millennials have been called "the unluckiest generation," and that bad luck has definitely made many of us more fearful of recessions.

    It's been sort of a knockdown, drag out fight for millennials ever since we were college age, and many of us have a lot of financial anxiety and fear that Gen Z doesn't seem to share.

    "I'm terrified of ending up like my parents in '08 when we lost our house. Seeing my parents try so desperately to keep our home and keep us fed was heartbreaking to watch at 13/14. I own a home now but I know it's not mine, it will always be the banks," millennial Taryn B. told me in a direct message.

    Here are three ways to prepare your money for a recession, no matter what generation you're in:

    1. Build up your cash savings

    2. Get more from your current resources

    3. Build financial community

    Do you think a recession is coming? And are you doing anything to prepare? Share your thoughts in the comments.