US Gen Z Credit Card Debt Burden Increases as Interest Rates Remain High
The Standard - 전체
Key summary
A recent survey by Deloitte and ConsumerSignals indicates that the proportion of US adults aged 18-29 (Gen Z) carrying continuous credit card balances increased by more than 19% between Q3 2023 and Q2 2026. While Gen Z debt rose, the share of other generations with credit card balances decreased, with Baby Boomers showing the fastest decline at nearly 26%. The Federal Reserve reported an average credit card interest rate of approximately 21% in August. Financial expert Eileen Olson, founder of Emerald Wealth, notes that paying off high-interest debt is financially advantageous compared to investing, as it offers a guaranteed return exceeding historical stock market averages. However, she advises maintaining employer-matched retirement contributions before aggressively paying down debt.
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Official source
The Standard - 전체
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