Financial experts say the American Dream is dead… and they reveal who's to blame

A lot of young people feel like the old version of the American Dream doesn't work anymore. Get a job, buy a house, retire after 30 years... that path just doesn't line up with what things cost today. Daily Mail dug into why that is, and Family Credit Management President Michael McAuliffe joined the conversation to share what he's actually seeing with real clients.

Michael's numbers tell a clear story. Gen Z has become one of the fastest-growing groups coming to Family Credit Management for help, up more than 160% since 2021. And the amount of debt they're carrying when they show up has almost tripled in that same time, from about $5,266 to $14,559.

Some of that makes sense. Younger people are starting to use credit earlier than past generations did. But Michael pointed out something worth paying attention to: young adults are becoming dependent on credit sooner, often before they've had the time to build good habits or a financial cushion to fall back on.

It's a good reminder that building credit early isn't the problem. It's building it without a plan.

Read the full article at Daily Mail.