The latest survey found younger consumers were more likely to miss payments. More than half of Gen Z or millennial respondents-- those born between the early 1980s and mid-to-late 1990s-- said they had missed at least one payment. That compares with 22% of Gen X, who were born in the early 1960s to early 1980s, and 10% of Baby Boomers, those born between the mid-1940s and 1980.
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As 'buy now, pay later' surges, a third of U.S. users fall behind on payments
"It's easier than ever to purchase an item -- and finance it -- without even thinking about the implications of the purchase," said Colleen McCreary, financial advocate at Credit Karma. "It's this disconnect between making a purchase and actually paying for it where consumers can get in trouble." Report ad
