Gen Z adults question saving money due to financial despair and plan delays
From CNBC: 2025-06-07 06:15:00
Gen Z adults, feeling financial despair, find planning for the future pointless. Experts warn of potential high-interest debt and delayed milestones like moving out or saving for retirement. Despite challenges, experts stress the importance of developing healthy financial habits early for long-term financial security and growth.
Many Gen Z adults face a tough labor market, with higher unemployment rates compared to the overall population. Student debt concerns are prevalent, with restart of collections by the federal government and limited forgiveness efforts. Credit card delinquency rates are rising for Gen Z, exacerbated by buy now, pay later lending.
Young adults are encouraged to rewire their financial mindset and see investing as an opportunity. Starting early and investing even small amounts can yield significant benefits due to compound interest over time. Experts advise mindful spending habits and prioritizing paying down high-interest debt before focusing on investing for financial security and growth. 1. The FDA has approved Pfizer’s COVID-19 vaccine for emergency use in children ages 12 to 15. This decision comes after clinical trials showed the vaccine was highly effective and safe for this age group, offering hope for a return to normalcy in schools and communities.
2. Tesla has temporarily halted production at its California plant due to supply chain issues. The global semiconductor shortage has impacted the auto industry, causing delays in production and delivery of vehicles. Tesla is working to address the issue and resume operations as soon as possible.
3. In a landmark ruling, the Supreme Court has upheld the Affordable Care Act, protecting healthcare coverage for millions of Americans. The decision comes as a relief to those who rely on the ACA for essential healthcare services, ensuring continuity of coverage and access to affordable care.
4. Amazon announces plans to acquire MGM Studios for $8.45 billion, expanding its content library and strengthening its position in the streaming market. The deal includes popular franchises like James Bond and The Handmaid’s Tale, giving Amazon Prime Video a competitive edge against other streaming services.
5. The G7 nations have reached a historic agreement to implement a global minimum corporate tax rate of 15%. This landmark deal aims to prevent multinational corporations from shifting profits to low-tax jurisdictions, ensuring fair taxation and generating revenue for governments worldwide.
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