Tadeo Ruiz Sandoval
speaker
291 appearances
3 recordings
1 series
first heard Aug 2024
last heard Aug 2024
Tadeo Ruiz Sandoval’s voice in public audio — every appearance, attributed to the second.
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Appearances
Bruce said if Gen Zers aren't able to pay off their debt, that poses a risk that doesn't just affect them.
Turns out it's bigger than that.
The debt that Gen Z is accumulating, which includes student loan debt, but also includes very high interest rate consumer credit and other loans, those issues are going to come home to roost at some point.
And everyone in every generation may bear some impact of that.
This is a special edition of Your Money Briefing for Wednesday, August 21st.
This is Gen Z and the Debt Trap, a three-part series that looks at why this generation is accumulating debt so fast, what can be done to slow the growth, and how our debt could affect everyone else.
In part one, we learned about the broader economic effects that led to Gen Z's fast debt accumulation.
In this episode, we talk about the ramifications of that debt and the personal habits that could be making it worse.
This is part two, hemorrhaging money.
More after the break.
The pandemic limited Gen Zers' ability to go out, travel, or hang out with friends.
For many, it was a time of social isolation.
25-year-old Gaia Jacobs was in Delray Beach, Florida during the pandemic.
She had just graduated from Lynn University as a film major and transitioned from working in a shoe store to a photo studio, where she worked as a manager earning $15 an hour.
She says that to cope with the isolation during the pandemic, she found new hobbies that made her happy.
But they came at a cost.
At this point, she had nearly $40,000 in student loans and owed over $30,000 in a car loan.
On top of that, becoming a chef at home increased her grocery bill.
If she didn't already have the cash to afford it, the cost for the groceries would end up on her credit card.
Little by little, a purchase here and a purchase there, her credit card usage climbed to $9,000 on two cards.
Showing 121–140 of 291 · page 7 of 15
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