The kids are not alright.
Welcome to the Know the Difference Minute for Tuesday, April 18th. 
Stunning article in today’s Wall Street Journal regarding young adults and their approach to debt.  Basically, they’re adopting financial avoidance. Like, not dealing with it. At all. 
A Credit Karma survey found that average credit card debt rose 29% to $5,800 for millennials and increased by 40% to $2,800 for Gen Z.  Making it worse: Millennials and Gen Z are more likely to pay late fees or take advances from their credit cards.
You and I know that’s no way to run a personal balance sheet. It’s an economic backlash following runaway pandemic spending colliding with rising interest rates. 
We can preach to our kids about spending money they don’t have---but doesn’t at least some of this sound a little familiar? 
I’m talking to you Debt Ceiling. 
I’m Dave Spano from Annex Wealth Management.  That is your Know the Difference Minute.