Zelle Finds 46% of Gen Z Owe Friends Over $1,000 as Group Costs Strain Ties
Updated
Updated · Fortune · Jul 27
Zelle Finds 46% of Gen Z Owe Friends Over $1,000 as Group Costs Strain Ties
3 articles · Updated · Fortune · Jul 27
Summary
Forty-six percent of Gen Z currently owe friends or family more than $1,000 for shared expenses, and 30% owe more than $2,500, according to Zelle’s latest survey.
Forty-seven percent say they have gone into debt after fronting a group cost they expected others to repay, a pattern the report ties to unclear repayment terms and avoidance of money conversations.
Repayment often drags: only 28% of borrowers say they pay back immediately, while 39% of Gen Z say repayment can take a month or longer.
Twenty percent of Gen Z debtors say they have muted or ignored a group chat to avoid paying, and 69% say repayment issues have hurt a friendship, family or romantic relationship; 14% say a friendship ended.
Frequent digital-payment users report faster settlement—76% of Zelle super-users, including 86% of Gen Z, say the app helps them pay people back sooner.