Instead of investing, many wealthy young Americans are choosing to use their savings to line their bank accounts. With the tech sector making up most of Gen Y’s most familiar brands, young people are shying away from investing in an industry that’s thought of as volatile, rather than stable.

Driven by serious FOMO, Gen Y and Gen Z are your typical thrill sekers and adventure-hunters. But are they? A 2017 study by Nationwide found that thanks to money worries, young Britons prefer staying in and spending quality time with their dogs.

Are Gen Yers splurging their cash when they should be saving? Are they really saying no to home ownership? Do they actually have no use for brick-and-mortar bank branches? Canvas8 sat down with British men and women between the ages of 18 and 35 to find out where their cash really goes.

American Gen Yers are notoriously averse to signing up for a credit card – just 33% of those under the age of 30 own one – yet many are clamouring to get their hands on a Chase Sapphire Reserve. What exactly makes this premium, fee-carrying rewards card so appealing to this cohort?