CNBC host Jim Cramer says Gen Z is broke because they buy too many ‘$14 margaritas’

CNBC host and multi-millionaire Jim Cramer said the younger generation was broke because they spent too much on his $14 margaritas and not enough on the stock market. 

The Mad Money host, who is worth more than $100 million, said that those in Generation Z living paycheck to paycheck were spending too much money on having fun rather than saving or investing it. 

‘One of the problems that I see about Gen Z-ers is they’re not frugal enough,’ Cramer said. ‘They seem like they have a lot of money, even when they don’t have a lot of money.’ 

He said he came to the conclusion while out in his Brooklyn restaurant, the San Miguel Bar, where he claimed to have seen a young man buy five $14 margaritas for himself ‘as if [money] grew on a tree.’ 

‘On the one hand, you’re allowed to have all the margaritas you want,’ Cramer said, ‘but on the other hand, you say, ‘I can’t invest, I have student loans.’ I think that’s counterintuitive.’

CNBC and Mad Money host Jim Cramer said Gen Z spends too much money on his $14 margaritas and not enough investing in the stock market

CNBC and Mad Money host Jim Cramer said Gen Z…

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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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