Gen Z adults ages 22-24 are taking out more credit lines and racking up more debt than millennials of the same age did a decade ago, and experts are concerned the problem could get worse.

According to a new report from TransUnion, Generation Z is racking up debt at a faster rate than millennials did at their age and are reporting higher delinquency rates than previous generations. Editor-in-Chief at Investopedia,

The Acorns survey found that Gen Z and millennials are worried that their financial situation could lead to homelessness.

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While median minimum monthly debt payments for U.S. consumers grew by 32% between 2020 and 2023, for younger Americans that figure is a staggering 74%.

A new TransUnion report shows that borrowers aged 22 to 24 are carrying an average of $2,834 in credit card debt.

Gen Zers are digging themselves into a ditch of debt by tapping into credit at higher levels than their millennial counterparts did in the early stages of adulthood, according to a new study.

Members of Generation Z have more credit card debt at their age than any generation before them, according to a new Wall Street Journal report. With inflation plaguing the economy, young adults have needed to turn to using credit cards to cover the rising costs of food and shelter.