Connect with us

Hi, what are you looking for?


New Study Reveals Gen Z’s Financial Struggles Surpass Those of Millennials at Same Age

Gen Z Faces Steeper Financial Challenges Than Millennials Did a Decade Ago

A stark financial reality faces young members of Gen Z, who are struggling more than their Millennial counterparts did at the same age a decade ago. According to a recent study by TransUnion, 22-24-year-olds today grapple with lower incomes, higher debt-to-income ratios, and increased financial stress.

The study’s findings, based on surveys, credit bureau data, and interviews, paint a concerning picture of Gen Z’s financial well-being.

Financial Hardship Hits Gen Z Harder Than It Did Millennials at Same Age, Study Shows

The data reveals that Gen Z 22-24-year-olds earn an average of $45,493, significantly lower than the inflation-adjusted $51,852 earned by Millennials at the same age ten years ago.

Also, the debt-to-income ratio has risen from 11.76% to 16.05%, reflecting higher inflationary pressures on Gen Z. Credit card balances have also increased, with an average of $2,834 compared to $2,248 a decade ago.

The financial strain is taking a toll on Gen Z’s mental health, with 14% reporting extreme stress about their financial situation, compared to 8% of Millennials ten years ago.

Conversely, only 8% of Gen Z respondents feel extremely confident about their finances, compared to 13% of Millennials at the same age. As the cost of living continues to rise, it’s clear that Gen Z faces unique financial challenges that require attention and support.

Click to comment
Notify of
Inline Feedbacks
View all comments

We’re dedicated to providing you the most authenticated news. We’re working to turn our passion for the political industry into a booming online news portal.

You May Also Like


Actress Emma D’Arcy is from the British rebellion. She has only appeared in a small number of movies and TV shows. It might be...


Jennifer Coolidge Is Pregnant: Jennifer Coolidge Audrey Coolidge is a comedian and actress from the United States. Many of her followers are wondering if...


Spoilers! The demon Akaza from Kimetsu no Yaiba dies in the eleventh arc of the manga and the one responsible for his death is...


The young YouTube star Emily Canham has recently been seen making headlines for her amazing work and her journey. She started from scratch and...