Those shoes are, like, totally awesome.

One influential group of the U.S. population is directly affecting the world in an unconventional way. Those in “Generation Y” are influencing the workplace, marketers, retailers, advertisers and more.

The age cohort brought into this world from 1977 onward, Generation Y accounts for approximately 30 percent of our nation’s population with more than 76 million strong – making a presence both physically and monetarily.

According to a survey done recently by Jane magazine, it was revealed that women ages 20 to 29 spend nearly 50 percent of their disposable income on fashion accessories, clothes and beauty.

The question is no longer whether the money is being spent; it’s what it is being spent on, where it is coming from and why those in Generation Y spend so much of it.

“I believe that 20-somethings spend money on materialistic items to compete with the image of the all-American dream,” said Cortney Schram, senior in speech communication.

“I also believe that our age group in particular has a feeling that they deserve to have these nice things and not have the money to actually afford it.”

There may be many factors that can determine the reason why many Gen Y-ers believe they can afford more than they actually have.

One theory suggested by experts is that they are the most attractive age group to marketers and advertisers. Extensive work has been done to try to draw teens especially into the apparel market.

“Generation Y-ers need to identify themselves with something. They’re at the age where uncertainty is everywhere and buying things even without money gives them a sort of identification,” said Laura Tober, senior in apparel merchandising, design and production. “They also have easy access to credit cards, which makes it extremely easy to buy anything they want and simply worry about the money later.”

Those reasons, combined with recent online shopping capabilities and extensive credit card ownership, make Generation Y the fashion industry’s dream – unlike the more spendthrift generations preceding them.

Baby Boomers and Generation X-ers have somewhat different ideas when it comes to spending cash.

“Definitely the limited access to credit and other financial resources have hindered previous generations from spending as much as Generation Y,” said Keila Tyner, graduate assistant in textiles and clothing. “Also, I think within a postmodern context identity, construction is more fluid and dependent upon consumption of products to help define the self and identity.”

Will the trend of using up wads of green continue for future generations? Generation Z is up next, and some think the detrimental spending trend will continue.

“Honestly, with credit card companies knocking on your door every other day with fliers and other propaganda, and the universities and high schools not providing enough education on financial planning, I cannot foresee a positive future,” Schram said.