How Gen Z is Mastering the Art of Soft Saving

With the majority of Gen Z living paycheck to paycheck, saving money can feel like a luxury. A new trend has emerged that has shifted the traditional view of setting aside funds. Financial Counselor Lauren Bringle breaks it down:

What is soft saving?

“Soft saving is a more thoughtful and flexible approach to saving money that makes saving sustainable over time.” Instead of stressing over hitting strict goals, soft saving encourages you to prioritize balance and implement low-stress, sustainable choices that help you reach your goals. This approach allows you to make progress toward your financial future without feeling deprived of the little things in life that bring you joy.

Since strict savings goals and schedules can often feel unrealistic at times, soft saving encourages implementing small, gentle shifts that allow you to save whenever and however you can. This doesn’t mean you don’t have savings goals; it just means you are more flexible in your approach to hitting them. This requires being “a little more mindful and a little more strategic” with your money, but doing so in a way that feels totally doable as opposed to overwhelming.

For example, soft saving can look like keeping your morning latte but skipping the lunch delivery order, or keeping Netflix while pausing other subscriptions, or only ordering one mimosa at brunch instead of two. “The key is finding areas in your spending where you won’t really miss the cutbacks, and then redirecting those dollars toward your bigger goals. It’s not about deprivation, it’s about prioritization.”

Why is soft saving becoming so popular?

With financial uncertainty around every corner and everything getting more expensive, saving money, especially consistently, can feel straight-up unrealistic at times. We all feel this! But it is especially true for Gen-Zers, who are struggling to secure a steady paycheck and keep up in this economy. More than half of recent college graduates are still looking for work, and three-quarters of Gen Z say the economic landscape is making it harder to plan their finances. Soft saving offers “a sense of control, progress, and financial tranquility without the pressure of perfection.”

Instead of throwing in the towel or feeling discouraged when they can’t keep up with traditional savings plans and strict goals, soft saving is sticking because it encourages them to prioritize what matters to them and save what they can, when they can. Not to mention, for the Gen-Zers who are all about “enjoying the here and now,” soft saving gives them the permission slip they’ve been looking for to prioritize the present, all while still acknowledging and planning for their financial future.

Are there pitfalls to soft saving?

While soft saving can feel more balanced and enjoyable than alternative savings methods, there are definitely some downfalls to note. “Soft saving is a great entry point,” making it a smart option for those who need to get into a savings habit or just don’t have a lot of spare money to save. However, “it has its limits,” she warns. “If you’re only saving when it feels convenient or never increasing your goals over time, you might fall short when bigger financial challenges arise…” Additionally, because soft saving often prioritizes enjoying the present, it’s easy to justify impulse spending or lifestyle creep.

A sound solution? Connecting your savings to a “why.” Why are you ditching the delivery fee? What purpose does that extra money serve for future-you? Is it to save for a new car? Pay down your student loans? Renovate your half bath? Move closer to home? Having a strong “why” will help keep you connected to your goals and motivated to save more efficiently.

To learn how to soft save effectively, read the full article here.

What matters most is that you understand the importance of saving money, and are committed to doing it, one way or another. It does not matter which method you use. Establishing good habits is sure place you on the path to financial security!