Friday 24 June 2022 02:57 AM CNBC host Jim Cramer says Gen Z is broke because they buy too many '$14 ... trends now

Friday 24 June 2022 02:57 AM CNBC host Jim Cramer says Gen Z is broke because they buy too many '$14 ... trends now
Friday 24 June 2022 02:57 AM CNBC host Jim Cramer says Gen Z is broke because they buy too many '$14 ... trends now

Friday 24 June 2022 02:57 AM CNBC host Jim Cramer says Gen Z is broke because they buy too many '$14 ... trends now

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 spends too much money on his $14 margaritas and not enough investing in the stock market

He said he watched one person buy five $14 margaritas at his Bar San Miguel (pictured), in Brooklyn, and said the young man should have used the money to invest in stocks

He said he watched one person buy five $14 margaritas at his Bar San Miguel (pictured), in Brooklyn, and said the young man should have used the money to invest in stocks

Cramer admitted that it might seem hypocritical of him to make the criticisms. He has a $3.4 million estate in Quakertown, Pennsylvania, listed under his name after moving there in 2021

Cramer admitted that it might seem hypocritical of him to make the criticisms. He has a $3.4 million estate in Quakertown, Pennsylvania, listed under his name after moving there in 2021 

Cramer's comments came following a recent Deloitte survey, which

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