What is 'soft saving,' and why do Gen Zs practice it?

The times have certainly changed.

For today's youth, often referred to as Gen Z, the goal isn't early retirement anymore; instead, it's all about practicing soft saving.

For those who may not be familiar with the concept, here's a 101 on soft saving. 

According to Sunday's episode of "24 Oras," soft saving is a common investment practice among American Gen Z, where they prioritize personal growth, emotional well-being, and activities that bring them current fulfillment.

In a study conducted by the American software company Intuit, three out of four Gen Zs revealed that they hesitate to set long-term goals due to the current state of the economy.

As a result, they tend to “live in the moment” by traveling, pursuing higher education, or establishing their own business models.

For financial adviser Francisco Colayco, there is nothing wrong with the idea of soft saving, but Gen Zs should have a strategy to prepare for future emergencies.

— Hermes Joy Tunac/CACM, GMA Integrated News