March 3rd 2024.
In today's day and age, buying a round of drinks for your friends comes with a surprising warning - a health warning. Gone are the days where you could easily buy a cheap drink for a pound or get a generous serving of vodka and Coke for just £2.50 at the university bar. Things have changed and the price of a night out has gone up significantly.
For today's university students, buying a round of drinks can be a risky move. Not only does it put a strain on their already tight budgets, but it could also lead to a hefty bill that they simply cannot afford. In fact, a leading university has even warned that buying a round could be "triggering" for some students. This was brought to light during a recent sociology class that focused on money and finance.
According to reports, the lecturer at the University of Manchester directed students to the campus-run emergency suicide helpline and a counseling service in case the lecture became too distressing. One of the main topics discussed was the emotional pressure of buying drinks for your friends, as reported by MailOnline. Some students were surprised by the mention of a trigger warning for something as seemingly harmless as buying a round of drinks.
One student shared with the paper, "A few heads turned when they mentioned a trigger warning for a topic like that. My initial thought was, 'If you're going to put a trigger warning on a topic such as finance, then everything's going to need a trigger warning, especially in a subject like sociology.'"
As expected, this sparked a debate on social media with comments criticizing the younger generation for being too sensitive. However, the reality is that the cost of living has increased significantly over the years, making a simple act like buying a round of drinks a financial burden for some students.
The average price of a pint of beer in the UK has increased by 41% in the past 10 years, according to official data. And unfortunately, salaries have not increased to match this rise in prices. But this issue goes beyond just the cost of a pint.
For Gen Z, those born between 1997 and 2012, attending university means facing economic uncertainty. With high tuition fees, soaring housing costs, and other household bills, their financial future looks bleak. While older generations may view Gen Z as a frivolous group more interested in social media and anti-aging treatments, the truth is that they are more concerned about basic needs like food and shelter.
Research commissioned by Channel 4 found that the top concerns for Gen Z are the high cost of living, lack of affordable housing, uncertainty about the future, and pressure to succeed. Social media didn't even make the list. And even after graduation, these students may struggle to maintain their standard of living if they move to expensive cities like London.
Rent in previously affordable areas like Luton has now reached an astonishing £1,431 per month, according to the latest data from Zoopla. And then there's the issue of generational wealth, where the older generation holds a significant amount of property equity while the younger generation struggles with debt.
A recent report showed that millennials are set to become the richest generation, but they will have to wait until retirement to see the benefits of inheritance. This imbalance of wealth only adds to the financial woes facing Gen Z.
It's no wonder that a tearful TikTok video from a Gen Zer went viral last year, as she expressed her frustration with not having enough time for herself due to the demands of her job. Comments welcoming her to the "real world" were met with backlash from millennials and Gen Z, who pointed out that having a work-life balance is difficult when basic needs like housing are not met.
The harsh reality is that Gen Z is more worried about money than previous generations, and can we really blame them? Buying a round of drinks in 2024 is not the same as it was in 2014. The cost of living has increased, and universities are finally recognizing this. So, before we criticize the younger generation for being too sensitive, let's consider the financial challenges they are facing.
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