Many things influence our financial habits: our upbringing, our earnings, our living conditions, our social expectations, and, of course, our personal attitude to money. Although many of us are diverse, there are some common denominators that provide the basis for experts to classify us as a group, a generation.
Generational groups are permeated by similar desires, fears, goals, and insights – of course only in general. Important! The following lines paint a general picture of the different generations, their truth is not exclusive!
Before we get to know the much-mentioned Y and Z generations
Which are of paramount importance to consumer society, let’s get to know their “parents”, Generation X, and the basics of generational division.
Generation Groups – From Veterans to Alpha
Generational marketing divides the potential audience into different age groups, ie generations, and draws conclusions about them based on several factors.
Psychologists and sociologists, such as Neil Howe and William Strauss, who laid the foundations for relevant research, laid the foundations for the division, outlining the expected group-specific buying behavior. It is important, however, that overlaps between generations can also occur, as changes are mostly related to technical development, which may vary from medium to area.
Professionals now account for six generations
According to Good Finance, generations usually follow each other every 15-20 years, or repeat themselves every four generations; 80-100 as a stimulant. According to this, professionals now account for six generations, namely:
- Veterans (1920-1939)
- Baby Boomers (1940-1959)
- Generation X (1960-1979)
- Generation Y (1980-1995)
- Generation Z (1996-2009)
- Alpha generation (after 2010)
Who are members of Generation X?
Members of Generation X are by and large born in the 1960s and 1979s. They are often referred to as messenger generations, transitional generations, or “lost” generations, as they are the smallest generations in the world between the large number of Baby Boomers and the Y Generation.
In the years of their birth, after the Second World War, the world underwent several major turns; such was the mass entry of women into work, the suppression of strict religiosity, and the liberation of the sex life as a result of the sexual revolution. Divorce has increased during the childhood of the X generations, with more and more fractured or mixed so-called divorces.