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Let’s see how well Gen Z has avoided credit card debt…
Answer: $2,312
Questions:
- Why might Gen Z have lower credit card debt than other generations?
- Do you think young people with credit cards expect to go into debt? Explain.
- Do you have a credit card? Why or why not? If so, are you able to pay off the balance every month?
- How can carrying credit card debt month to month negatively impact your financial health?
Behind the numbers (The Ascent):
“Generation X carries the highest average credit card balance at $7,236. That’s over $1,000 more than baby boomers, who came in second with an average balance of $6,230.
The lowest average credit card debt by age was Generation Z with $2,312. Since young adults have lower incomes on average, they also have a lower average credit limit, which at least helps with avoiding credit card debt.”
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Want to access more Credit-focused activities and resources? Check out the Types of Credit unit page.
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Attend NGPF Professional Developments and earn Academy Credits on your own time! Check out NGPF On-Demand modules!
About
the Author
Mason Butts
After graduating from UCLA with a Master’s in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.
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