Gen Z consumers are carrying more credit card debt and using buy now pay later while planning to put more savings toward stocks and retirement

NEW YORK, Oct. 8, 2026 /PRNewswire/ — Many young people in the United States are racking up interest on their credit cards and at the same time wanting to buy more stocks, according to new Deloitte ConsumerSignals survey. 

The new report, based on a monthly survey highlighting the financial priorities of 1,000 US-based respondents, highlights Gen Z’s unique money management habits. While Gen Z (ages 18-29) is not the first generation to juggle debt and the desire to build wealth, there are some differences. A tougher entry-level job market and easier access to credit and investing apps are among the forces reshaping how Gen Z manages money.

The survey indicates that an increasingly larger share of Gen Z borrowers ages 18 and up are carrying credit card balances for more than a month, while respondents from other generations appear to be more actively managing their debt. From Q3 2023 through Q2 2026, the share of Gen Z respondents carrying credit card balances for more than a month rose nearly 20%, while declining among other generations. And Gen Z buy now pay later (BNPL) use surged to 22.8% in the first quarter of 2026 — the highest level among generations tracked in three years of data — before easing to 17.6% in the second quarter.

Gen Z’s growing reliance on short-term credit may reflect financial pressure amid a tougher entry-level job market, rather than greater comfort with debt. While older generations have become more comfortable with credit card debt, Gen Z’s reported comfort has remained largely unchanged over the past four years. The comfort gap nearly doubled, from 6.3 percentage points in Q3 2022 to 12 percentage points in the second quarter of 2026.

“Gen Z is spending, saving, and investing differently,” said Michelle Gauchat, Deloitte’s US banking and capital markets leader, Deloitte. “They came of age with smartphones, BNPL, and investing apps already at their fingertips — and they’ve entered a tough job market. Our clients are focused on how to serve this digital-savvy generation.”

Despite increased short-term borrowing, Gen Z respondents plan to allocate more of their savings to stocks, mutual funds, and retirement plans than they did three years ago. Other generations, by contrast, report plans to shift more savings toward cash.

The findings suggest that Gen Z is balancing near-term financial pressure with long-term wealth-building goals. For financial services firms, this may create an opportunity to provide more integrated tools and guidance spanning credit, spending, saving, and investing.

About the research
This research is based on Deloitte’s ConsumerSignals survey, a longitudinal exploration of consumer spending behavior and the drivers behind it. Every month, ConsumerSignals surveys thousands of consumers across more than a dozen countries about their sense of financial well-being, spending intentions, and upcoming purchases. For this analysis, we draw on data collected from July 2022 through June 2026, focusing specifically on responses from US consumers (N = 48,000; n = 1,000 US-based consumers each wave, adults age 18+).

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 9,000 US-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters for our people, clients, and communities. We bring together distinct talents, technologies, disciplines, and an ecosystem of alliances to help tackle today’s most complex business challenges and drive long-term progress. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 180 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s nearly 500,000 people worldwide connect for impact at www.deloitte.com.

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SOURCE Deloitte