I don't think so. Some people might use credit cards or loans but it is just a cycle of taking a loan then paying it and you are not really moving forward are you?
When I used to bounce, I would go out for group drinks with many younger staff members. The general state of attractive young women is that they will spend to maintain beauty and have their fiance make them whole. Not kidding. They make minimum wage (+ tips) but will spend a thousand a week on vanity items like clothing or accessories. Just use a cash advance from one card to pay the minimum on another. Gen Z esp seems to have no idea about saving, with all the available instant loan services. (I recently received an offer to pay my walmart groceries over 6 months lol)
You are right - they are not moving forward. Many don't believe tomorrow will come so they spend now. The rest believe in a fantasy to save them.
Yeah I agree, and bitcoin is the best investment. ... If I was an investor right now that starts new, then I would save at the moment, wait for bitcoin to have a bear season, crash to bottom, buy at the bottom, and wait for the bull run, and keep buying.
Bitcoin
was the best investment. It was novel and different and filled a need. If it crashes to the bottom, what would cause a bull run? It would just be another shitcoin. :/
Bankruptcy filings among 18 to 29-year-olds have surged nearly 17% from Q1 to Q2 of 2024 and are up 13% compared to last year.
While the pandemic sparked a drop in filings due to relief measures, debt among young adults has since risen, reaching $1.12 trillion for 18- to 29-year-olds. Filings have jumped 50% since a 24-year low in early 2022.
https://www.forbes.com/advisor/debt-relief/bankruptcies-on-the-rise-gen-z-millennial-debt/