Oyin Adedoyin
speaker
1,572 appearances
36 recordings
1 series
first heard Mar 2023
last heard Feb 2025
Oyin Adedoyin’s voice in public audio — every appearance, attributed to the second.
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The average credit score change for Gen Z, with scores above 720, for example, fell 24 points in the last couple of years.
Exactly.
And just the pressures of inflation in general.
One of the reasons why it's gotten so hard for Gen Z to establish themselves in adulthood is because the wages are also not keeping up with inflation.
So the median annual wage for recent college graduates was $60,000 in 2023.
That's little change from $58,858 in 2020.
And that's according to the Federal Reserve of New York.
At the same time, the median rent in the U.S.
was $1,987 as of January.
That's a nearly 22% increase in the last four years, according to Rent, which is an online rental marketplace.
Gen Z is putting everything on credit.
They are putting any outside payments that aren't rent, like groceries, transportation, even travel, fun things, discretionary spending.
That's all going on the credit card.
One of the things that we're already seeing is an increased reliance on parents or other family members to help them carrying the load.
Another thing that we're seeing is delays in major life milestones.
So that includes things like buying a home, getting married, and even starting a family.
Gen Z is pushing those things to later down the line for when they feel more financially stable.
One thing financial advisors recommend is checking your balance.
Remember a little over a year ago when we talked about that story I did about financial avoidance and how Gen Z is avoiding?
Exactly.
Showing 561–580 of 1,572 · page 29 of 79
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