5 Ways Reconnecting IRL Can Pay Off for Younger Generations
Millennials and Gen Zers are spending less time talking to neighbors and socializing in their communities, and experts say that shift could carry a financial cost.
A recent survey from the American Enterprise Institute found the share of young adults who talk to their neighbors at least a few times a week fell from 51% in 2012 to 25% today.
Read More: Gen Z Views This Boomer Spending Habit as 'Cringe' — Are They Right?
Check Out: 9 Subtly Genius Things All Wealthy People Do With Their Money — That You Should Do, Too
From job opportunities to mentorship and referrals, experts say rebuilding those connections can pay off in more ways than one.
Meet More People
Talking to more people may not seem like a financial strategy, but it can open doors that are hard to find online.
“The lack of personal connections hurts people's ability to get a new job,” said Wayne Winegarden, an economist at the Pacific Research Institute. “Even with apps like LinkedIn or Indeed, personal connections are still essential for finding a job, especially for new job entrants.
“Being more socially isolated limits these connections, which makes finding a new job and moving up the economic ladder more difficult.”
Go Where People Gather
Many younger adults have large online networks but fewer local connections. That can become a problem when they need help, advice or support close to home.
Spud Marshall, community building expert and author of "Designing Creative Communities," said millennials and Gen Z are more likely to move for work and rent in places where they never fully put down roots.
His advice? “Choose proximity,” Marshall said. “Live near people, use 'third places' like a gym, coffee shop or co-working space, and let repeated low-stakes run-ins do the work over time.”
Show Up Consistently
Building connections isn't just about meeting new people. It's also about staying engaged over time.
Matt Twiford, founder and managing partner of Pegacorn Group, said people often focus on what they can get from a relationship instead of what they can contribute.
“The better question is: How can I be useful to the people around me?” Twiford said.
That could mean helping a colleague, sharing information, making an introduction or simply being someone others can count on.
Twiford said he built relationships through consistent effort that created opportunities years later, from client referrals to business partnerships.
“All of it grew from showing up consistently and being genuinely useful to people, without expecting anything specific in return,” he said.
Build Relationships Early
Strong networks don't appear overnight. They are built long before they are needed.
That's why peak performance psychologist Elizabeth Lombardo encourages young adults to invest in relationships before they need help. Joining a professional association, volunteering or participating in community groups can create connections over time.
“Cultivating relationships will help not only in terms of potential job opportunities," Lombardo said, "but we also know that when people feel like they matter, such as in healthy relationships, they live longer, have better mental health and are more engaged in their jobs."
Put Down Local Roots
Building local connections can pay off in unexpected ways. One of them is access to trusted recommendations.
Joe Braier, a business advisor and CEO of Lake Country Advisors, said people who don't know their neighbors or community members often miss out on referrals for services such as home repairs, childcare and other everyday needs.
“If there aren't any good referrals, then the next person will have to pay full market price for all services,” Braier said.
According to Braier, a trusted recommendation can mean the difference between spending a few hundred dollars and paying much more. Over time, those extra costs can add up.
The Bottom Line
Building community doesn't have to start with a major commitment. Say hello to a neighbor. Attend a local event. Visit the same coffee shop every week. Reach out to an old colleague.
Small interactions can become relationships that lead to new opportunities, trusted advice and support when it's needed most.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
More From MoneyLion: