Gen Z Singapore: Redefining Money and Brands
A new Visa study reveals that Singapore’s Gen Z, the digitally fluent yet financially cautious generation aged 14–27, is reshaping the future of money with an appetite for independence, seamless payments, and authentic brand connections.
Nearly half of Singapore’s Gen Zs (47 percent) rank financial independence as their most important life goal — far above the Asia Pacific average of 33 percent. Yet, rising living costs, mental health pressures, and economic uncertainty weigh heavily on their ambitions. This generation is saving diligently, with many preparing for milestones such as marriage and home ownership.
While most are comfortable with saving, confidence in financial management is low. Only 36 percent feel capable of managing money well, and fewer still are investing actively. Debit cards dominate (65 percent ownership), but many are eyeing time deposits and credit cards to access rewards and perks in the coming year.
Security, Convenience and Rewards Matter
For Gen Z, payments aren’t just about money – they’re about speed, security, and value. Quick, convenient methods top the list, while rewards strongly influence their choices. Visa has responded with innovations such as Click to Pay, multi-currency products, and personalised data tokens, reflecting their need for seamless and tailored experiences.
Instagram, YouTube, and TikTok are where Singapore’s Gen Zs spend most of their time – and where they make many spending decisions. Nearly 40 percent purchase products after seeing ads online, but trust is everything: only influencers perceived as authentic sway them. Peer credibility beats glossy brand messaging every time.
Gaming, Music and Experiences Drive Spending
Experiences trump possessions for this generation. Seventy percent of Gen Z gamers regularly spend on in-game purchases and merchandise, while 67 percent invest in music-related gear, with live events being their biggest splurge. Entertainment culture and digital communities are central to their financial footprint.
Singapore’s Gen Z is setting new rules for money and markets: they want independence, crave convenience, and demand authenticity. For businesses, winning them over means delivering more than products – it’s about creating seamless experiences, reward-driven choices, and genuine connections.
