Millennials and Gen Z Carry High Levels of Debt, Influencing Financial Decisions and Relationships
A new survey by National Debt Relief reveals that nearly nine in ten millennials (87%) and almost eight in ten members of Generation Z (77%) carry debt. The findings highlight how this financial burden is reshaping their attitudes toward money management, relationships, and major life choices. The study shows a growing reliance on AI for financial advice among younger generations—69% of millennials and 64% of Gen Zers have used it to manage personal finance challenges. Additionally, many are turning to gambling as a way to pay off debt, with over half of regular gamblers in both groups admitting this behavior. The survey also found that convenience purchases like subscriptions or food delivery contribute significantly to their growing debts and that younger generations increasingly prioritize financial stability over traditional life milestones such as having children.
Topics: AI usage in finance consumer spending debt generational financial habits