Brief
Survey finds Gen Z and Millennials turn to AI and gambling to manage debt
A poll of 2,000 U.S. adults reveals younger borrowers are using online gambling and AI advice as financial survival tactics.
By Felo News Desk · Published
A survey of 2,000 U.S. adults conducted by National Debt Relief and Wakefield Research found that a majority of Gen Z and millennial respondents are turning to online gambling and artificial‑intelligence tools to address personal debt.
What happened
According to the poll, 65% of millennials and 53% of Gen Z say they feel more comfortable discussing financial problems with AI than with family or friends. The same study reports that 65% of Gen Z and 49% of millennials who gamble regularly do so to try to eliminate part of their debt, compared with lower percentages among older generations.
What the reports add
The New York Post article notes that 69% of millennials and 64% of Gen Z use AI for money advice during financial struggles, while 45% of Gen X and 23% of boomers do the same. It also highlights that 38% of millennials and 27% of Gen Z owe $7,500 or more in unsecured debt.
What was said
“The data shows younger Americans are willing to seek help with their finances, but where they turn for that help is changing,” Cathleen Bell, vice president of customer research & insights at National Debt Relief, said in a press statement.
How it came about
The poll follows growing concerns about debt burdens among younger adults, a topic previously covered by Felo News in its report on Gen Z‑millennial financial pressures (Gen Z urges millennials to retire to open corporate jobs).
Key facts
- 65% of millennials and 53% of Gen Z feel more comfortable discussing finances with AI than with people (nypost.com)
- 65% of Gen Z and 49% of millennials who gamble do so to reduce debt (nypost.com)
- 69% of millennials and 64% of Gen Z use AI for money advice during financial struggles (nypost.com)
- 38% of millennials and 27% of Gen Z owe $7,500 or more in unsecured debt (nypost.com)
Sources
- [1] nypost.com — originally reported as “Gen Z and millennials turn to AI, gambling to try to tackle thousands in debt: study”
