Gen Z's Financial Guide: Spot 7 Debt Traps Before They Ruin Your Finances

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Gen Z: Avoid These 7 Debt Traps Before They Crush Your Wallet

Gen Z Financial Guide: Spot These 7 Debt Traps Before They Crush Your Wallet

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News18•27-02-2026, 14:30

Gen Z: Avoid These 7 Debt Traps Before They Crush Your Wallet

•Paying only minimum credit card dues leads to principal remaining unpaid and interest piling up rapidly.
•A debt-to-income ratio above 50% leaves little for daily expenses, forcing more borrowing for basic needs.
•Missing loan EMIs incurs hefty penalties, damages credit scores, and can lead to taking new high-interest loans.
•Borrowing to repay existing loans is a dangerous debt cycle, making repayments unmanageable.
•High credit utilization (80-90% of limit) signals overreliance on credit, increasing interest costs and harming credit scores.

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