Of all the things for me to comment on in my first post, and it isn't about bankruptcy...
By gen z parents, do you mean the parents of gen z kids, or gen-z adults who have kids?
Speaking as a member of Gen X, I don't quite agree with the ages you listed. As I understand it, Gen X is generally considered to be people born 1965-1980, and Gen Y (aka millennials) is people born 1980 through some time in the 1990s.
That said (and speaking broadly), millennial parents tend to have different goals and priorities than previous generations.