Things are looking up for the “doom-spending” generation.

A new report from Bank of America predicts that, by 2035, Gen Z could be the richest generation in the next decade, amassing $36 trillion in income. By 2040, that number is expected to more than double to $74 trillion — which will make them the richest and largest generation in a matter of 10 years, at which point they will also consist of approximately 30% of the population worldwide.

These figures come after reports that Gen Z is facing significant debt and the financial pressures of inflation and high cost of living, turning down jobs due to commuting costs and refusing to have children.

They are the very same problems the plagued Millennials years ago — but Gen Z’s luck could soon be changing, according to self-proclaimed “money queen” and financial literacy expert Amanda Frances.

“Here’s why: First, wage growth — many are just now stepping into higher-earning roles,” she told The Post via email. “Second, their digital fluency gives them unprecedented access to wealth-building opportunities through fintech, e-commerce, content creation and AI-driven businesses.”

“The interesting thing will be: What will they do with their money?” added Frances, who was not involved in the Bank of America report.

According to the survey from Bank of America, Gen Z is “a generation of spenders,” shelling out more cash on both necessities and discretionary purchases than previous age groups and making them “one of the most disruptive generations” for global economies.

According to the report, while they currently spend more than they save, “Gen Z will redefine what it means to be a US consumer.”

The generation is also “overeducated,” which will serve them well in years to come.

In fact, 57% of adults aged 18 to 21 who were no longer high school students were studying at a two- or four-year college, per 2022 data — more than past generations.

“Ultimately, that can lead to higher employment rates and increased median earnings,” the survey authors said.

Despite a difficult job market, the report found that Gen Z’s wage growth increased 8% year-over-year last month, “the most among all generations” and approximately “twice as high as the overall median.”

“And then there’s the Great Wealth Transfer — trillions of dollars set to shift hands in the coming years, much of which will land in Gen Z’s bank accounts,” Frances said.

Gen Z will be the beneficiaries of the “Great Wealth Transfer,” inheriting money from previous generations.

Past reports have predicted that dollar amount to be as much as $84 trillion, which will reportedly change hands from Boomers to Gen X and younger by 2045. This means that “Gen Z and Millennials are increasingly likely to be making key spending and saving decisions,” the Bank of America survey authors wrote.

“Gen Z is positioned to be the wealthiest generation ever — I’d love to see them own this,” said Frances.

“It’s time for them to prepare what is set to head their way, positioning themselves internally with their mindset and beliefs around money and externally with their practices for growing wealth.”

In order for the young generation to be successful, she advised building assets in addition to their income, becoming “investors,” not just consumers. She also recommended investing early and regularly — even small amounts — because they “can snowball into massive wealth later,” as well as leaning into new ways to earn cash.

“Unlike previous generations, Gen Z has infinite ways to make money online — e-commerce, digital products, AI-driven businesses,” she said. “The ones who embrace innovation will lead the next economic boom.”