Tik Tok Gen Z Is Plagued With A New Problem & You Could Have Seen It Coming 100 Miles Away

In 2020 the World Economic Forum said, “you’ll own nothing and you’ll be happy.”

Yeah not really.

The new hip young TikTokers we are all supposed to admire are quickly falling into trouble and you could have seen this coming 100 miles away.

They are strapped with debt.

Not sure if you noticed but “buy now, pay later” services are popping up all over websites. A lot of internet influencers are pushing products with hefty price tags but retailers use the services to split the payments up into increments.

Afterpay, Affirm, Sezzle, and Zip are just a few.

However, Gen Z has fallen in love with the practice of these “short-term loans” and Bidenomics is crushing their ability to make their payments.

From the San Francisco Gate:

Gen Z, in particular, has fallen in love with the short-term loans, spending 925% more now through point-of-sale services than in January 2020. But coupling nearly instantaneous loans with an influencer-addled social media culture that prioritizes exorbitant spending and normalizes debt could be further jeopardizing the financial futures of young people through just four easy payments.

“They are marketing very heavily to an audience that is younger, that might not just have as much experience on how to use credit and what credit implications are or what it means to have multiple loans at one time,” Marisabel Torres, the California policy director of the Center for Responsible Lending said.

Below is an example of what occurs on Tik Tok:

@loganraehill #ad Afterpay day is here! It’s here for 4 days only March 17-20! “See @Afterpay Terms for full terms. @afterpayusa #AfterpayDay ♬ FEEL THE GROOVE – Queens Road, Fabian Graetz

Gen Z is being swayed by influencers for big-ticket items and using these services to dive further into debt.

According to reports, 43% of Gen Z customers have missed at least one payment and 30% have missed two.

The companies admit that their services target Gen Z, encourage increased purchase amounts, and claim the service can be used as a “budgeting tool.”

The services are branching out, Texico and Chevron has launched a “Fill up now, Pay later” program with Klarna. Afterpay recently announced they are getting into medical bills and dental work.

Meanwhile, Gen Zers are calling it “an addiction.”

@annabelle.cooley i can’t even say that i’m a material gworl bc it’s deeper than that. it is an addiction. #materialgirl #materialgworl #shopaholic ♬ you guys werent supposed to use this sound LMFAOO – jade/don

Then this is what happens…

@lillian.bradford @Afterpay Australia ♬ mario kart wii race results – sky

Remember you’ll own nothing and be happy. You won’t even own the gas you pumping into the car aren’t allowed to own.

Whatever happened to delayed gratification? What does this say about the health of the US economy/consumer? Americans are buying products that they can’t afford and almost half of Gen Z is missing payments.