Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 07/11/2025 2:14:00 AM PDT by Libloather
The kids aren’t alright.
It’s no surprise that Gen Z — the generation born between 1997 and 2012 — isn’t the best with their money. A poll from Newsweek revealed that adult Zoomers have around $94,000 in personal debt — thanks to never-ending credit card spending.
And the proof is in the pudding — according to the 2025 TIAA Institute-GFLEC finance and retirement report, most of Gen Z is financially illiterate.
The report showed that on average, Zoomers score only 38% correct on financial literacy tests.
Because of this, in the U.S., 29 states now require a personal finance course as a high school graduation requirement.
However, the course requirement comes a little too late for Gen Z since 3 out of 4 of them wish they were taught finances 101 in school because they don’t feel prepared now, according to a recent report from Intuit.
“We know that students need to begin learning essential personal finance concepts earlier, and our latest Prosperity Index Study results show that 60% of Gen-Z are eager for more financial education,” Dave Zasada, vice president of education and corporate Responsibility at Intuit, told Forbes.
Luckily, Gen Zers do have access to informational resources online yet many feel overwhelmed by it all. It also doesn’t help that many parents financially support their Zoomer kids — which doesn’t teach them the value of a dollar.
A report conducted by Savings.com revealed that 50% of US parents hand an average of $1,474 a month to their Gen Zers to keep them afloat in today’s economy.
(Excerpt) Read more at nypost.com ...
Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Makes my head hurt just thinkin' about it.
It’s not just Gen Z, a significant percentage of all Americans are illiterate of personal finances, especially when it comes to borrowing, interest rates, and taxes.
I’m 65 years old; I’ve had numerous adults in my age group tell me they do not pay property taxes even though they live in a house with a mortgage. They had no idea their property taxes were paid out of their mortgage.
I’ve had numerous people in all age groups with mortgages that have no idea of how much their house would cost if paid off their mortgage over time. For example, if you purchase a $200,000 home with a 30-year mortgage, I’ve asked them to multiply their monthly mortgage payment by 360 to see how much interest they will pay over 30 years.
I’ve had quite a few people tell me a 15-year mortgage is a worse for your finances because you pay more per month than a 30-year mortgage, even though over time you would thousands in interest costs.
People are so hooked on debt and lack any knowledge of how interest expenses affect their overall financial wealth.
"$1,474 a month to their Gen Zers"
And we can thank the stupider previous generations for “teaching”
Or the lack of teaching in some cases.
That’s about what the to man demands from me. Add that to what I just paid for insurance this month I wonder why I bother working when it is so easy to go on welfare. Some days I think I just declare myself a trans woman of trans color and move to a blue state and live for free.
‘People are so hooked on debt and lack any knowledge of how interest expenses affect their overall financial wealth.’
That’s terrifying!
Through marketing the last three generations have been brainwashed into mass consumerism and living on credit. Toys... “You MUST buy shiny toys, you cannot live without them”. So what they call “staying afloat” is still not truly living within their means. They are paying for a lot of toys they could actually live without.
Can’t balance their checking account. But hey, they have participation trophies. 😆👍
CC
“Can’t balance their checking account.”
I’d say 95% don’t have checking accounts.
I went from writing about 15 checks a month to about 3 per year!
_________________________________________
And hair weaves
Uh, oh. More trouble -
Gen Z woman views shaving as a ‘chore’ — so she hasn’t done it in years: ‘It’s so crazy how people are scared of body hair’
Whoa Nelly! You got an allowance?! 5 to 10 bux? Man...I could have gotten in serious trouble back in the day with that kinda dough.
Not writing physical checks and not having a checking account aren’t the same thing...
That said, the problem is that without writing the physical check, though, is that it makes it far easier to just spend without thinking about it. Just tap that card, scan that QR code on the phone, buy, and move on...don’t even have to look or think about the price.
“I got about $5-$10 per week as allowance until I got my first real job at 14.”
At 13, my millennial son(1995) was a hockey referee, making $25 a weekend. When he wasn’t doing that, he was cleaning out people’s garages, selling on e-bay what they didn’t need and taking a cut of the proceeds. When he wasn’t doing that, he bought a lawn mower with his own money and cut the lawns of people in the development. The lawn thing went on until the primary lawn service came to me and threatened my kid to stop or be buried in the desert. My son conceded on that one. I agreed after my son wanted me to sell him one of my weapons to defend himself.(I had to tell him all my guns were lost in a boating accident) All these years later, my son still uses an iPhone 6.
I used to work in banking.
Most people don’t balance their checkbook….ever. With the advent of online banking they just check their balance on their phone.
But I was stunned when I saw how people treated their money. Most people treat their money very poorly.
I’m 75. I got a weekly allowance of $7.50 back in the 1960s. It included school lunches, drum lessons,saving for summer camp, and some to spend. It taught me how to budget.
These “toys” include daily Starbucks at $10 a pop, the latest Apple I phone, weed, meals delivered by door dash, breweries and on and on.
Stupidity is the biggest requirement of the educational system...they’re doing a great job.
They Be Lazy..
.
Take two Aspirin ,
call me....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.