Financial Struggles of Gen Z Compared to Millennials

SOURCE www.breitbart.com
Gen Z is facing financial struggles with lower income and higher debt-to-income ratios compared to Millennials at the same age. A recent study by TransUnion found that Gen Z adults have lower incomes and higher debt compared to Millennials a decade ago.

Key Points

  • Gen Z has lower income and higher debt-to-income ratios than Millennials did at the same age
  • TransUnion study surveyed 614 Gen Z adults and 623 Millennials, revealing the financial challenges faced by Gen Z
  • High interest rates and increasing inflation under the Biden administration contribute to Gen Z's credit card debt