Gen Z Faces Massive Financal Stress

November 14, 2023 8:51 am in by
Credit: Maskot via Getty Images.

Gen Zers across Central Victoria are more concerned about their finances than any other generation – that’s what we are hearing from the Australian Securities and Investments Commission (ASIC).

Research by the Moneysmart program reveals Gen Zs living in regional areas are more likely to use Buy Now Pay Later products (34%) than their metropolitan counterparts (26%).

The program also found Australians aged between 18 and 26 have an average debt of over $8000.

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The CEO of ASIC, Warren Day, says the findings suggest young people across our region may need extra help to get on top of their finances.