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American Focus > Blog > Economy > Why Gen Z’s adulting dreams are being crushed — and what they can do about it
Economy

Why Gen Z’s adulting dreams are being crushed — and what they can do about it

Last updated: February 16, 2025 10:06 am
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Why Gen Z’s adulting dreams are being crushed — and what they can do about it
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Young people today are facing a harsh reality – the life they had envisioned for themselves is becoming increasingly out of reach. Gen Zers, those born between 1997 and 2012, are finding themselves drowning in debt and struggling to achieve traditional milestones like owning a home and starting a family.

Jennifer Rubin, a senior researcher at education research group foundry10, highlighted the challenges faced by Generation Z, citing rising costs of living, tuition fees, and an unstable job market as major obstacles. These factors have made goals like homeownership, financial independence, and career stability seem like distant dreams.

Data from TransUnion and the New York Fed shows that Gen Z has a significant debt problem, with credit card debt levels surpassing those of millennials at the same age, even after adjusting for inflation. This cohort is also more likely to max out credit cards and become delinquent on payments.

A survey conducted by Laurel Road and Luminary found that a majority of young adults with student loan debt struggle to save for emergencies, invest, buy a home, or start a family. This financial burden is having long-term implications on their ability to achieve key milestones.

Homeownership, once a cornerstone of the American dream, is now painfully out of reach for many young Americans. Census data shows a decline in homeownership rates, with more young adults still living with their parents due to soaring home prices and mortgage rates.

Enrique Martínez García, from the Dallas Fed, warned that slower generational progress could have profound social and economic consequences. Delaying major life decisions like starting a family and buying a home can choke population and economic growth, ultimately impacting overall demand in the economy.

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The convenience of digital payments and online transactions has made it easier for young people to fall into debt. Keisha Blair, a personal finance guru, highlighted the influence of social media in fostering a culture of instant gratification and heightened consumerism among Gen Zers.

Despite these challenges, there are steps that young people can take to achieve their dreams. Experian’s Rod Griffin recommends drawing up a budget, setting achievable goals, seeking professional guidance, cutting back on impulse purchases, and eliminating unnecessary expenses.

Elizabeth Husserl, author of “The Power of Enough,” suggests that young people redefine wealth on their own terms by prioritizing meaning, sufficiency, and fulfillment over relentless striving. By co-living to cut housing costs or pursuing alternative education to avoid debt, they can create a path that aligns with their personal values and aspirations.

In conclusion, while the odds may seem stacked against them, young people have the power to take control of their financial future and redefine success on their own terms. By making intentional choices and prioritizing what truly matters to them, they can overcome the obstacles standing in the way of their dreams.

TAGGED:adultingCrushedDreamsGen
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