Next gen personal finance strategies leverage modern technology and data analytics to provide personalized insights and recommendations. They may emphasize automation, real-time tracking, and behavioral economics principles to help individuals make better financial decisions compared to traditional methods that may rely more on manual budgeting and generic advice.

Yes, some examples of tools and technologies commonly associated with next gen personal finance include budgeting calculators, robo-advisors, AI-driven financial assistants, cryptocurrency platforms, and peer-to-peer lending platforms. These tools often offer features such as automatic expense categorization, goal setting, investment portfolio optimization, and predictive analytics.

Challenges may include concerns about data privacy and security, the learning curve associated with adopting new technologies, potential reliance on algorithms that may not always capture individual preferences or circumstances accurately, and the risk of over-reliance on automation without maintaining a basic understanding of financial principles.

While many next gen personal finance concepts can be applied universally, their effectiveness may vary depending on factors such as income level, age, life stage, financial goals, risk tolerance, and access to technology. Some strategies may be more relevant to younger generations comfortable with digital tools, while others may appeal to individuals seeking more traditional financial planning services. 

Other examples are unmarried people will have a very different approach to personal finance than a married person in his mid-life with kids pursuing education.