Answer: Credit Cards

Questions:

• What do you think will be your first credit product, if any, from the list above? 
• How would you describe your feelings about borrowing money (credit)? 
• The chart above compares Gen Z and Millennials when they were at the same ages. What differences do you see in the credit behaviors? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (CNBC):

TransUnion compared the credit activity and performance of millennials (25 to 39 in 2019) and Gen Z consumers in the U.S. To have a true “apples to apples” comparison, TransUnion observed millennials who were between the ages of 18 and 24 years old in 2012 and Gen Z consumers who were 18 to 24 years old as of 2019, adjusted for risk and age differences.

The comparison found a difference between which products each generation preferred. Gen Z favored credit cards (41%) over student loans (37%) while millennials were the reverse — student loans (44%) and credit cards (34%).

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Students take on the role of lender and learn about the tricks of the loan trade in NGPF's Shady Sam

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 Did you miss NGPF's "Best of..." series in December? Here are some of the highlights:

• NGPF's Best of 2021: Product Releases and Updates
• NGPF's Best of 2021: FinCap Friday
• NGPF Best of 2021: Arcade Games and Interactives
• NGPF's Best of 2021: Top Search Terms on NGPF Website in 2021

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.