Gen Z Is DROWNING In Credit Card Debt
May 19, 2024
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8:26Now PlayingGen Z Is DROWNING In Credit Card Debt
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as posted by the channelWages are simply not keeping up with inflation, and it's Gen Z taking a serious hit. Ana Kasparian discusses on The Young Turks. Your Support is Crucial to the Show
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"Young Americans are starting out with more credit-card debt than generations before them. That financial burden can have long-lasting effects.
The rising debt load largely reflects a surge in prices for food and shelter at the start of their careers, coupled with a larger percentage of Gen Z who graduated with student loans. The average credit-card balance for 22- to 24-year-olds was $2,834 in the last quarter of 2023, compared with an average inflation-adjusted balance of $2,248 in the same period in 2013, according to new data from credit-reporting agency TransUnion TRU -0.14%decrease; red down pointing triangle."
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