Peniaphobia: Gen Z’s Financial Anxiety
Gen Z faces intense financial stress, dubbed “Peniaphobia”—a deep fear of poverty fueled by economic instability, rising debt, and unaffordable housing. Even higher education no longer guarantees security, with unemployment and student loans creating widespread anxiety.
Social media amplifies the pressure, promoting unrealistic standards that drive impulsive, FOMO-driven spending. Many turn to side hustles, not for passion, but survival, resulting in burnout, sleep deprivation, and strained relationships. Mental health and finances feed a self-perpetuating cycle of stress.
This fear often links self-worth to bank balances, making setbacks feel existential. Solutions include Cognitive Behavioral Therapy, financial literacy education, and employer-led programs like emergency savings and student loan support.
Gen Z’s heightened financial awareness is a rational response to precarious conditions. True security comes from combining money management with mental health, relationships, and meaningful work—helping this generation move from survival mode to sustainable stability.
