Gen Z is sinking deeper into debt as higher costs for education and housing weigh it down, new data shows [Fortune]
TransUnion (TRU)
Last transunion earnings: 4/28 06:50 am
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Source: Fortune
Housing inflation has proven to be one of the stickiest components to drive up the cost of living, with rents outpacing salaries in all but six of the top 50 metropolitan areas. Rising food prices and heavy student loan debt also factor in as young Americans are forced to tighten their belt by reducing expenses to their essentials. According to new data from credit reporting agency TransUnion , these higher costs matched with their entry level salaries have forced young Americans born between 1997 and 2012 to rely much more often on expensive forms of revolving lines of debt—such as credit cards—to make ends meet. “This is a generation that is feeling financial stress in a more acute way than millennials did a decade ago,” Charlie Wise, head of global research at TransUnion, told the Wall Street Journal The average open balance on U.S. credit cards for Gen Z consumers grew to $2,834 last year versus $2,248 a decade earlier. The added $586 is a figure that has been adjusted to t
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News
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- 6 Ways To Build Up a Low Credit Score in 2024 [Yahoo! Finance]Yahoo! Finance
- How to pay off debt and save for retirement amid sticky inflation: Wealth! [Yahoo! Finance Canada]Yahoo! Finance Canada
- How to pay off debt and save for retirement amid sticky inflation: Wealth! [Yahoo! Finance]Yahoo! Finance
- Average credit card debt per borrower tops $6,000: TransUnion [Yahoo! Finance Canada]Yahoo! Finance Canada
TRU
Earnings
- 4/25/24 - Beat
TRU
Sec Filings
- 5/7/24 - Form 8-K
- 5/6/24 - Form 4
- 5/6/24 - Form 4
- TRU's page on the SEC website