Gen Z Sinks Deeper Into Debt.

Young Americans from Generation Z are starting their careers with more credit card debt than previous generations. This is largely due to the rising prices of food and shelter, as well as a higher percentage of Gen Z graduates with student loans. The average credit card balance for 22- to 24-year-olds was $2,834 in the last quarter of 2023, compared to $2,248 in the same period in 2013. This financial burden can lead to delinquency on credit card payments and a reliance on family for support. It can also cause delays in important life milestones such as homeownership and marriage. The article highlights the experiences of young individuals struggling with credit card debt and explores the factors contributing to this issue. [Extracted from the article]