Gen Z is getting hit hard by inflation

Gen Z is in the financial trenches.

A new study from credit reporting agency TransUnion found those in their early 20s are earning less, have more debt and see higher delinquency rates than Millennials did at their age.Related video above: If the Fed wants 2% inflation, they have to raise ratesThe findings outline the credit usage of 22- to 24-year-old Gen Z ers. Millennials who fell in that age range in 2013 were asked about their credit usage during that period.

But in those cases where they're renters, they're seeing that additional bite that certainly those homeowners that have their homes before 2022 haven't faced. You own your home, and your mortgage typically doesn't vary, but your rent does. And so I think that's been a big cause of what's been driving a lot of that financial strain that Gen Z consumers have seen.

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Gen Z Millennials Credit Scores Inflation Loans

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