Survey: Gen Z and Millennials Turn to AI, Gambling to Address "Crushing Debt"
Survey: Gen Z and Millennials are using AI and gambling to address crushing debt.Summary
A survey by National Debt Relief and Wakefield Research of 2,000 U.S. adults found that 65% of Gen Z and 49% of millennials who gamble do so to eliminate debt, compared to 39% of Gen X and 19% of boomers. Over a third of millennials (38%) and over a quarter of Gen Z (27%) with unsecured debt owe $7,500 or more; 69% of millennials and 64% of Gen Z have used AI for financial guidance, favoring "judgement-free advice" and "approachability." Gambling methods include sports betting, prediction markets, fantasy sports, day trading, and casino gambling, with experts warning of a debt cycle, especially as some borrow to gamble. The report notes a generational divide in financial security perceptions. Experts advise younger adults to understand debit vs. credit, limit digital wallets, calculate costs of buy now, pay later plans, use snowball or avalanche debt repayment methods, and practice mindful consumption to manage debt and improve financial wellness.
(Source：Natural News)