Part 6/9:
Generation Z has inherited an economy where debt has become a defining feature of life. Confronted with skyrocketing costs of living, inflated housing markets, and increasing prices on essentials, many young adults find themselves trapped in a financial cycle that seems impossible to escape. Reports show that this generation is not only entering adulthood with more debt than previous generations but also faces higher interest rates on credit cards, averaging close to 22%.
The conversation around Gen Z's financial habits often skews critical, attributing their struggles to poor decision-making. However, this view neglects the systemic issues that have drastically changed the economic landscape, setting a stage in which young adults have little control over their financial fates.