Young Americans Face Financial Crisis: 62% Of Gen Z Have Zero Emergency Savings
Your car breaks down on a Tuesday morning, and the repair bill comes to $500. If you’re part of Generation Z, there’s a good chance you have nothing set aside to cover it. A new survey from Credit One Bank reveals that 62% of Gen Z have no emergency savings at all, nearly double the rate of baby boomers. There’s a very clear widening gap in financial preparedness happening between generations. The study, which surveyed 1,150 Americans, found that while older generations have had time to build financial cushions, younger adults are entering adulthood with far less of a safety net. ….[READ]
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