Gen Z adults and millennials, in particular, find it difficult to build wealth. Intuit Credit Karma's research found that more than half of Gen Z report participating in or considering low-buy and no-buy challenges. Related: This Buzzy Retirement Strategy Is Helping Young People Escape the 9-5 Before Becoming Millionaires — Here's How to Pull It OffHowever, Gen Z respondents are also most likely to admit to "doom spending" (41%). Doom spending is the habit of making impulsive purchases — often items that people don't need or can't afford — to ease feelings of anxiety and hopelessness. Many Gen Z respondents (42%) report "panic buying" products out of fear of price hikes or shortages as well.