Generation Precarious: How young people wound up trapped in a volatile cycle of saving, spending, and debt that will haunt them for decades

Mon, 04/10/2023 - 06:02

Man holding onto a dollar-sign shaped pendulum for dear life as it swings quickly back and forth — Just as previous generations' view of the world was defined by cataclysmic events, experts say that the financial scars of the pandemic era will stick with Gen Z and millennials.
Getty Images; Alyssa Powell/Insider

How young people wound up trapped in a volatile cycle of saving, spending, and debt that will haunt them for decades

Bruno Solari wanted to stay in shape, but there was only one problem: All the gyms were closed.

Back in April 2020, Solari wasn't the only one with this dilemma — a lot of people had free time on their hands and a sudden desire to shape up. Of course, it was the height of the pandemic, and he couldn't get swole in an exercise class. And buying exercise equipment from a store? Forget it. When he and a friend went to Dick's Sporting Goods, the shelves were already empty.