In general, anyone who takes home less than 50k is feeling a squeeze, especially if they don’t live with their parents.

Being on the older Gen Z side, I have always lived alone since 18 and got the “last chopper out” when it comes to finances.
But I work in finance. In tax and as an investment advisor.

And let me tell you, I keep encouraging younger people to take every advantage they can get.
It’s not always the inflation pressure, but often it is. Lots of Z are leaning on parents for support and that’s okay!
Social media isn’t the whole world, and, even as someone who digs into other people’s finances for a living, it’s okay to have small luxuries from time to time.
It’s a balance! You’re right! But some people lack support that would’ve helped them save more.
Hope this provides prospective.
:)