I’m a Gen Xer, and so are many of Consolidated Credit’s clients. In fact, most of our clients are either Gen X and Millennials.
That makes sense, because those generations are working hard to build their careers and their families. They might also be paying down student loans and caring for elderly parents. Sadly, many are of the age when most divorces happen, and that’s a leading cause of crushing personal debt.
While the oldest Gen Zers are also approaching this stage of life – nearing 30 – they’re suffering earlier and more deeply. We see that in our Consolidated Credit data. From 2021 to 2024, the number of our Gen Z clients rose over 80%.
In August, our trends were confirmed. The annual 2026 Planning & Progress Study reports the following…
- “Nearly one in four (24%) Gen Z adults are delaying having children due to financial constraints,
- one in five (20%) say they worry they may never be able to afford to become parents.”
- “More than 3 in 10 Gen Zers (31%) say they’ve postponed buying a house.”
- “1 in 5 (20%) put off getting married.
- “More than a quarter (26%) say they’ve delayed paying for college or higher education for themselves.”
Those are some upsetting statistics. Even worse is the study’s conclusion. When it comes to getting married, buying a home, or having children, Gen Zers “are concerned that they may never be able to afford these milestones, ever.”
Ever.
That’s a strong word. But these are trying times. Many of these hardworking Gen Zers have endured the Great Recession, the pandemic, and now economic turmoil from tariffs and war. No wonder they’re falling into debt faster than preceding generations.
That’s the bad news. The good news is the Gen Z is especially keen on asking for help. Pew Research says Gen Z is more likely to ask for mental health counseling without feeling the stigma that previous generations attached to it. Deloitte reports that Gen Z workers more readily ask for mentorship than previous generations.
This is a good sign, because it means they’ll also ask for credit counseling – if we can let them know it exists.
Credit counseling has been around for decades, and it’s administered by nonprofit agencies. A certified counselor offers a free, in-depth debt analysis and then provides debt-busting options with no obligation and no pressure.
That sounds like something handcrafted for Gen Z sensibilities, but it’s been working for Consolidated Credit for three decades – and for clients of every generation. Gen Z might have gotten a raw deal with the economic upheaval it’s faced, but the solution is literally on their phones. I hope they tap into Consolidated Credit.
