Young drivers today are facing financial pressures their parents never imagined. Recent research shows that nearly half (41%) of Gen Z run out of money each month, with less than 25% considering themselves financially stable. About 29% have nothing left by month’s end, and 34% have less than $100 remaining. In addition, 20% juggle multiple jobs just to make ends meet.
Between student loans, rising living costs, stagnant wages and social media-driven consumer culture, this generation’s financial stress is at an all-time high. Many rely on car loans for transportation, but one dangerous trend could leave them paying for vehicles they will never drive again, according to one expert.
The risky behavior
The risky behavior is not speeding or aggressive driving. Instead, it is something far mo