Folsom, Calif. – (Sept. 1, 2023) – SAFE Credit Union Certified Financial Educator Savannah Brown spoke with ABC 10’s Your California Life host Desiree Sheppard Thursday about the unique credit traps tempting Gen Z to overspend in today’s marketplace .
“Credit card debt is definitely surging right now,” says Brown. “Recent data from the Federal Reserve Bank of New York shows that Americans have exceeded $1 trillion in credit card debt .”
Given this news, Brown contends there is an even greater need today to prepare and teach young adults about good credit habits. During the segment, she offers specific credit and savings tips for college students and those entering the workforce for the first time.
“Research is showing that Generation Z is an optimistic bunch,” says Brown, adding that they can tend to overspend while facing an onslaught of "buy, now, pay later" offers at every online checkout during a time of historic high inflation.
SAFE Credit Union Certified Financial Educator Savannah Brown
Moreover, she warns Gen Z to avoid “flexing for the 'gram” and getting discouraged with their financial outlook too early. “Comparison is the thief of joy,” she says. “Your financial situation is individual and unique to you. If you set a plan and you stick to it, you will achieve anything.”
View the televised live segment.
Brown is set to present a free SAFE financial wellness webinar on the "Wise Ways to Shop with Your Credit Card," from 11-11:45 a.m., Tuesday, Sept. 26. Those interested can register online.
SAFE's financial education team fulfills the not-for-profit credit union cooperative commitment to share profits within communities, in part, through financial education.
For more information email [email protected].
About SAFE
SAFE Credit Union has made members an integral part of its vision since 1940. Over the years the credit union has kept the focus on what really matters, putting members first, a formula that has seen SAFE grow into a leading financial institution in Northern California with $4.7 billion in assets and about 236,000 members. SAFE crafts every cutting-edge product and sterling service with members’ needs foremost in mind. In addition to banking services conveniently available through online, chat, mobile, or phone options, SAFE offers in-person services for members and small businesses at service centers across the Greater Sacramento region. SAFE is a not-for-profit, state-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, Amador, and Alameda counties. Insured by NCUA. www.safecu.org