The Nine Network have launched new content across multiple platforms for their younger generation of readers who are seeking to become financially independent and are searching for multiple avenues to do so.
The Market Spotlight will keep a watchful eye on all the profitable shares across the digital space, such as cryptocurrencies and NFTs. It will be available in both The Sydney Morning Herald and The Age. Jessica Irvine, Nine’s senior economic writer, will also be providing her insights and giving advice to all aspiring investors, through her new column, “Money with Jess”, which will be published in print form and online in The SMH and The Age, but will also be available as a podcast and on TV via Nine’s “Today”.
For all individuals or couples who are trying to create future for themselves by putting a little something to the side, Nine’s specialist team of Julia Naughton, Sam Selinger-Morris and Lauren Ironmonger will be there to provide them with invaluable help, thanks to the new segment “Budgeting Better”, which will be available in print and online, via The SMH, The Age and Honey. For those trying to save for their superannuation, The Super Series will prove to be an incredibly helpful partner. This new content will also be available in the print and digital versions of The SMH, The Age and Honey.
Finally, Wealth Generation will be a new content series targeted towards Gen-Z’ers and Millenials who have come across large sums of money – either by saving, inheritance, or other means – and are searching for ways to manage their funds.
All this new content is aimed towards younger people who are trying to make a living for themselves one way or another, as Nine’s multi-method research (in partnership with thelab and pureprofile) has found that it is these people that are about to inherit a large sum of the nation’s money ($3.5 trillion is expected to be passed down within the next 20 years.)
However, according to the results of the study, this new generation has completely different interests from the one that came before it, different habits and different beliefs.
More specifically, 58 percent of people aged between 18-40 have more progressive views compared to just 50 percent of those aged 40-54. And while success is important to them, their idea of success is not to be in a high and well-paying position, but a role that fulfils them emotionally. 89 percent of young participants claimed that having a career is not simply about financial security.
But that doesn’t mean that they’re not financially active, as pretty much all (96 percent) of the people between 18-40 who took part in Nine’s survey are in charge of their own wealth and investments, with 60 percent of them consuming content based on personal finance (such as podcasts, blogs, etc).
This in turn has led to the rise of finfluencers, online content creators who provide financial advice to people without having the necessary qualifications to do so. While this practice has been frowned upon by the ACCC, it is becoming increasingly popular within the online community, becoming more and more of a headache for the regulators.
Among other things that Nine’s research brought to light was young people’s (and more specifically young male’s) infatuation with the world of NFTs and cryptocurrencies, their desire for easy access to knowledge, their shift towards more eco-friendly investments and their growing skepticism towards the great Australian dream of owning their own house.
Furthermore, while GenZs and millenials are moving away from credit cards, there seems to be a growing trend towards “buy now, pay later” types of payment methods such as Afterpay, which come with no interest rates.
Overall, this new generation seems to have a plan to create multiple sources of income from early on in their lives, planning out their paths towards an early retirement, while at the same time ensuring that they can enjoy what they do and follow their passion until they get there.
