Gen Z Faces Tougher Economic Challenges Than Millennials

Recent studies show Gen Z grappling with higher debt and lower incomes compared to Millennials at the same age.

Gen Z's average income is lower than Millennials when adjusted for inflation, with a notable increase in debt-to-income ratios.
Inflation and high interest rates exacerbate financial pressures, leading to a reliance on credit products among younger consumers.
Credit card usage among 22-24 year-olds has significantly increased, reflecting heightened economic difficulties.
Financial stress levels among Gen Z are reported higher than those experienced by Millennials a decade ago.
Experts suggest prudent financial management as essential for Gen Z to navigate ongoing economic challenges.