Generation X, sometimes referred to as the ‘lost’ generation. Was the first generation of ‘latchkey’ kids. Who were exposed to lots of daycare and divorce. Born in 1966-1976 and coming of age in 1988-1994. With a current population of 41 million, this is known as the generation with the lowest. Voting participation rate of any generation. As quoted by Newsweek, Gen Zero are ‘the generation that dropped out without ever. Turning on the news or tuning in to the social issues around them’.
Characteristics of Generation X
The Gen X era was often characterized by high levels of skepticism. ‘What’s in it for me’ attitudes. And a reputation for some of the worst music to ever gain popularity. With the transition into adulthood. William Morrow (Generations) cited the childhood divorce of many Gen Xers as ‘one of the most decisive experiences influencing. How Gen Xers will shape their own families’.
When it comes to education. Gen Xers are arguably the best-educated generation with 29% obtaining a bachelor’s degree or. Higher (6% higher than the previous cohort). With that education. Coupled with growing maturity, they are beginning to form families with a higher. Level of caution and pragmatism than that which their parents demonstrated. Concerns have run high over the avoidance of broken homes, that of kids growing up without a parent around as well as financial planning.
Generation X is also defined as the ‘in-between’ generation. With its earning and saving power, compromised first by the dotcom bust. And second by the financial crisis of 2008 and the great recession. When it comes to social and political power, Generation X is in-between the baby boomers. Who came of age during the Vietnam and Reagan eras. And the millennials of the Obama era.
Understanding Generation X
The Generation X name stems from a novel by Douglas Coupland, Generation X: Tales for an Accelerated Culture. Which was published in 1991. The people born within this time frame, are considered a group with similar views. Values, tastes, and habits. And the idea of a generation gap. Has gained more prominence and acceptance in the U.S.. Even though it is more useful for marketing than sociology.
The following American generations are covered in the theory:
- Firstly, greatest Generation (born circa 1901 – 1924)
- Secondly, silent Boomers (circa 1925 – 1945)
- Thirdly, baby Boomers (circa 1946 – 1964)
- Fourthly, generation X (circa 1965 – 1985)
- Lastly, millennial Generation (circa 1985 – 2000)
People who are born after 2000, are considered Generation Z or post-millennial.
About 65 million people have been credited to Generation X. While the baby boomers and the millennials each have around 72 million members.
Who is Considered a Generation X?
Gen Xers, are those born between the years 1965 and 1980.
This group is packed tightly between the baby boomers and the millennials. Generation X, is often dubbed America’s neglected ‘middle child’. In 2014, a Pew Research report highlighted some trends between baby boomers. Generation X, and the millennials. It was found that the Gen Xers fall in the middle of just. About everything, but call themselves the. Least distinct generation of the three.
Generation Xs & Finance
It has been researched, that the scariest characteristics of Generation Xs. Is that they are financially bankrupt. While millennials, on the other hand. Are plagued by student loan debt, which causes them to miss out on life’s. Excitement like traveling and marriage. Generation Xs is the most financially hurt.
According to a recent study of Lending Tree. It is discovered that Gen Xers have the highest average debt burden of any generation. Their average debt burdens rose by about 10% ($11,898) between 2016 and 2019.
The study also found out that Gen Xers have the most credit card. Debt of any generation while spending the most on non-essentials. Like dining out and lottery tickets.