(Photo: Foundation for Economic Education)
Although Generation Z is young, they do not take time for granted. This generation is working hard to avoid financial pitfalls like student loan debt. The pandemic affected people’s lives in ways one can only imagine. Also, inflation is outpacing wage growth in an economy struggling with recession.
Gen Zers must begin earning serious money as soon as possible to avoid a life of debt and the anguish that comes with it. Here’s a look at what Generation Z can do to become wealthy in 2023.
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(Photo: MagiQuiz)
Copywriting
LeeNor Dikel, ACC, a business coach, said that one could start generating income by enrolling in a copywriting course from Udemy.
UGC/Influencer Marketing
Moreover, A well-curated portfolio can make you earn money. Anyone can work for free with brands, receive free products, and create great content. UGC agency can also help you find consistent paying clients.
Investing In Real Estate
Jake Hill, CEO of DebtHammer said that Gen Z people who have already secured loans and bought properties could use them by marketing them through third parties like Airbnb or Vrbo. This can be an excellent venture in the real estate market.
E-Commerce
“Gen Zs understand the intricacies of the virtual world, and they can use it as a tool to make money quickly,” said Adam Garcia, CEO and owner of The Stock Dork. A lot of people have been doing online selling of various things through eCommerce stores and platforms.
Invest Your Tax Refund in an IRA
Certified financial education instructor and author of “Building Wealth on a Dime,” Kimberly Hamilton, mentioned that saving a million dollars is almost impossible for the average money maker, so if you want to get rich in 2023, you’ll need to invest. Setting up an individual retirement account (IRA) and investing their tax refund can go a long way in the future.
With the advent of technology today, it would be a waste if one cannot use it to their advantage. Gen Z can rise amidst these financial crises through these options.
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