Gen Z — those born between 1997 and 2012 — are quickly gaining a reputation as the “throwback generation,” due to their love of nostalgia and rediscovering things we thought were in the past for good. Surprisingly, that includes attitudes they’re embracing when it comes to money. But as true digital natives, they also use how to use technology to their advantage. Let’s see what financial lessons we can learn from Gen Z.

Keep Cash on Hand

With the plethora of digital payment apps available, you’d think the last thing Gen Z would bother with is cash. But guess what? They love it! Members of this generation pay in cash more often than Millennials (but still less often than Boomers). Many say paying cash gives them a feeling of being more in control of their finances and are embracing the envelope method as an easy and effective way to budget and stash money away for emergencies. Plus, many small businesses are starting to offer discounts for paying in cash, since it saves them the transaction fees associated with card swipes.

If you haven’t carried cash in a while, swing by the ATM and make a withdrawal. You might be surprised at how your thinking about money starts to shift.

Be Open to New Information

Gen Z has always had volumes of information at their fingertips. So, it’s no surprise they’re learning about money and finances from a variety of less traditional sources including videos on YouTube and TikTok. If you’re tired of hearing or reading the same old financial advice, broaden your horizons and find new sources of information. Of course, you’ll want to fact-check for accuracy and reliability. But there’s always value in seeking out new perspectives.

Embrace Frugality

The oldest members of Gen Z were just starting to enter the work world when the pandemic hit in 2020. Many typical young-adult employment opportunities like waiting tables, hospitality jobs and working retail were drastically reduced, leaving them scrambling for ways to make money.

Now that there are plenty of jobs again, inflation is at its highest level in decades and this generation feels like they can’t catch a break. These once-in-a-lifetime situations are causing Gen Z to avoid debt and focus on socking away savings, since they’ve seen first-hand how quickly life can change. If you’ve let your emergency savings slide, or if you depleted it during the pandemic, now is the time to focus on building it up again.

Practice Values-Based Spending

Gen Z is passionate about a wide range of social causes, and they spend  their money accordingly. They don’t think twice about taking a few minutes to research a company before spending money with them and they are quick to donate to causes they support and political candidates they believe in — even if their budgets only allow them a few extra bucks to do so. If you’ve put your spending on autopilot, spend some time thinking about and researching where your money is really going, then adjust accordingly based on what’s important to you.