11 Things Millennials Think Are Status Symbols That Mean Nothing To Gen Z
There are some things today's teens and young adults just cannot be bothered to care about.
bbernard | Shutterstock.com In comparison to younger people who are collectively struggling to achieve financial stability and comfort in their daily lives, millennials are doing pretty well — and they want the world to know it. A study from LendingTree, that suggests millennials are “getting richer, faster” than other generation, including Gen X and baby boomers, and many of them still get excited about certain status symbols and markers of wealth that mean absolutely nothing to Gen Z.
From aesthetically crafted living spaces to luxury goods and even planning for the future, the possessions and expenses millennials hold in high regard are uniquely different from those Gen Z aspires to acquire.
Here are 11 things millennials think are status symbols that mean nothing to Gen Z
1. A two-story home
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Millennials are the least likely out of all generations to want a single-story home. In fact, for the majority of potential millennial home buyers, having a two-story home is their top priority and aspiration. Partially a result of the wealth they admired growing up and the space they were forced to sacrifice moving into adulthood, millennials tend to value and prioritize having more physical space and privacy in their homes than Gen Z.
With many Gen Zers are also still living at home or with roommates to afford rising rent costs, this difference in status symbols isn’t entirely surprising. Being the loneliness generation, having the social connection, shared financial responsibility, and shared experience in roommates for Gen Z might not be the distasteful experience it is for other generations.
With all things considered — like the unsettling reality that many Gen Zers will never purchase or plan for a home — upholding certain home-ownership status symbols is something that means nothing to Gen Zers, compared to millennials.
2. Stainless steel appliances
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According to the National Association of Home Buyers, millennials are drawn to purchases like white cabinets and stainless steel appliances more than any other generation. Often drawn in by the clean, modern, and neutral aesthetic of the homes their wealthy friends and neighbors had growing up, it’s not surprising that this has become one of the status symbols of millennial generations.
However, for Gen Zers who value self-expression, comfort, and creativity in their living spaces, it’s not surprising that this is one of the things millennials think are status symbols that mean nothing to Gen Z.
In fact, for many in younger generations, the modern home aesthetic characterized by things like white cabinets and plain appliances is actually the opposite of the status symbols they’re hoping to achieve — instead yearning for maximalist and colorful styles that reflect their interests and passions.
3. Eating at restaurants
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While eating out might be a status symbol or a sign of financial comfort for millennials, Gen Zers are already prioritizing this practice more than any other generation, according to a Modern Restaurant Management survey. While millennials do tend to spend more on eating out — saving the expense for special occasions and events — Gen Zers don’t view going out for drinks or dinner as a symbol of prosperity, but a regular practice in their lives to connect with people and get out of the house.
Especially considering Gen Z is less likely to feasibly save and sacrifice for larger investments like owning a home — not by choice, but as a repercussion of the current economic state — they’re more willing to regularly adopt a habit like this that other generations might only associate with financial freedom or affluence.
4. Watches and luxury jewelry
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With accessibility to “luxury dupes” and more financial strain burdening younger generations and keeping them from investing in expensive purchases like a Rolex, it’s not surprising that luxury jewelry has become one of the things millennials think are status symbols that mean nothing to Gen Z.
Given we all have cell phones, watches have become purely decorative, serving little practical purpose for young people like Gen Zers who rely on digital clocks and devices to tell the time.
While the lingering sophistication and prestige of expensive jewelry might still appeal to older millennials who admired these pieces in older generations’ collections, many Gen Zers would prefer to spend their money elsewhere, like taking vacations, investing in experiences, or even buying a “dupe” for aesthetic purposes.
5. Designer clothes with visible logos
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While Gen Zers may be more deeply engrained in the trenches of consumerism as a result of the current digital landscape and e-commerce accessibility on social media, they’re collectively opting for a different display of wealth — coined “soft or quiet luxury.”
While millennials may be drawn towards designer and luxury brands with clear logos — who would've imagined Juicy Couture sweatsuits and Chanel purses would be evidence of status symbols in adulthood? — that display affluence and wealth, Gen Zers prefer a more subtle approach to displaying status.
Especially as fierce advocates of economic equality and a redistribution of wealth, cultural experts argue Gen Z’s adoption of quiet luxury and status from a consumerist lens is their way of rejecting “blatant displays of wealth,” trading it in for simple styles, everyday upscale staples, and experiences. Coupled with their tendency to purchase designer clothing second-hand or at thrift stores, Gen Zer’s are much less likely to invest in brand new logo-centric clothes with a hefty price tag.
6. Corner offices
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While obtaining a corner office in a corporate space has long been a symbol of status, prestige, and success for millennials and older generations of workers, Gen Z’s radical challenging of traditional workplace expectations and values have shifted their idea of what success and achievement looks like.
Considering many Gen Zers are more committed to a hybrid, flexible, or remote work schedule, even having to be in a physical office is more a consequence to Corporate America than a status symbol.
So, while millennials overwork themselves and overachieve in hopes of attaining a corner office at work, Gen Zers aren’t thinking twice about overstepping their work boundaries to spend more physical time in the office than they already are.
7. Large diamond engagement rings
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Still largely plugged into the traditional nature of an engagement, envisioning a classic wedding venue and a traditional diamond ring, it’s not surprising that large and expensive engagement rings are one of the things millennials think are status symbols that mean nothing to Gen Z.
Especially considering many Gen Z couples are more cost-conscious amid economic turmoil than their millennial counterparts, they’re more likely to opt for nontraditional engagement rings that both save them money and serve as a better reflection of their self-expression and aesthetic.
8. Having a nanny
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According to a study from MassMutual, nearly 25% of people in younger generations like Gen Z aren’t interested in starting their own families or having kids, partially motivated by economic strain and financial obstacles. For older millennials, many of whom are already navigating parenthood, it’s not surprising the symbols they view as displays of wealth will be wildly different from single and childless Gen Zers — like having a nanny or being able to afford comprehensive childcare.
With childcare prices today being similarly costly to university tuition, it’s not surprising that being able to hire extra help — or even having grandparents with the time, energy, and money to help — has become a status symbol. Regardless of your age demographic, many people are simply yearning for a disposable income that provides financial comfort — whether you use that income to travel, raise a family, or pay for a babysitter.
9. Multiple refrigerators
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For millennial kids who grew up with two refrigerators, likely one inside their home and one in the garage, it’s not entirely surprising that with less space in their own adult lives, they now view this as a unique and subtle status symbol. Not only does having two refrigerators mean you have more space, but you’re also likely making enough money to afford the extra electricity costs that come with owning more than one.
Similar to many of the other home renovations, appliances, and housing choices millennials make, it’s not surprising that many of the status symbols they aspire for mean nothing to Gen Zers who aren’t planning on owning a home anytime soon.
10. Classic cars
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Considering that many Gen Zers are opting out of getting their driver’s licenses — both due to anxiety about driving and the financial constraints of owning and maintaining a vehicle — it’s not surprising that owning a classic car is one of the things millennials think are status symbols that mean nothing to Gen Z.
According to a Hagerty Agents study, 57% of millennials are interested in classic car ownership — viewing them as collectable items that are equally a display of nostalgia and prestige.
11. Airline and hotel status
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While it’s certainly possible that Gen Zers enjoy and aspire to invest in traveling perks like an airport lounge, millennials are the most likely to belong to travel loyalty and hotel rewards programs, according to a survey conducted by Emarketer.
For Gen Z, traveling and investing in experiences isn’t necessarily a status symbol, but rather a priority in their daily lives, making it less of an aspiration compared to their millennial counterparts.
Zayda Slabbekoorn is a staff writer with a bachelor’s degree in social relations & policy and gender studies who focuses on psychology, relationships, self-help, and human interest stories.