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Fortune
Fortune
Jane Thier

Gen Z and millennials are dumping their wealthier friends, fearing lifestyle creep

summer friends popping champagne (Credit: J. A. Bracchi - Getty Images)

Why can’t we be friends? Maybe because only one of us can afford to go to that new restaurant.

Over a third (36%) of Gen Z and millennials said they have a friend who often leads them to overspend, finds a new study from Intuit Credit Karma that polled over 1,000 young adults. For many of them, that means racking up debt—and dropping the friends in the process. At a time when both generations feel they're living paycheck to paycheck, it's no wonder they'll do anything to avoid lifestyle creep.

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