Feb 22, 2023

Sneak Peek of FinCap Friday: Tim and Yanely discuss record high credit card debt of almost $1 trillion

In this week's episode of FinCap Friday: Debt at Record Highs As Interest Rates Rise, Yanely shares the latest stats about outstanding credit card debt. Consumers have racked up hundreds of billions in credit card debt, according to the New York Fed. How does this affect the youngest borrowers in the Gen Z age group? How fast is Gen Z debt growing compared to other generations? Find out all about these facts, and more, in Tim and Yanely's short conversation below:



For more details on this topic, including tips from experts on how to manage credit card debt, check out Michelle Singletary's recent article in the Washington Post.

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Did you know that tomorrow is the first day of NGPF's FinCap Friday Frenzy Contest?! By playing FinCap Friday, your class can enter for a chance to have a virtual guest visit from Yanely, the host of FinCap Friday, plus win a classroom set of her new book, Mind Your Money. Check out all the details about the contest here!



About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Yanely Espinal

Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her 10 nieces and nephews!

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