The plans finally made it out of the group chat: one person covers the apartment rental, another covers dinner for two nights, someone else grabs the concert or sports tickets, while the others are happy to let someone else do the planning. Friends cover the expenses with the expectation they’ll get paid, but a new survey says otherwise: Gen Z is spending big on group trips and events, but they’re not getting reimbursed.
A new report from Zelle finds that 46% of Gen Z currently owe friends or family more than $1,000, and 30% owe $2,500 or more. Nearly half, 47%, say they’ve gone into debt covering a group expense they expected to be repaid for, compared with 13% of Boomers.
