Fewer Cushions for Financial Falls

Fewer Cushions for Financial Falls

Fewer Americans are able to cover unexpected expenses this year. 

A new report from Bankrate.com shows just 39 percent would be able to use their savings to cover a one-thousand dollar cost, down from 41 percent in 2020.  The survey also shows 38 percent would need to get a credit card or borrow from loved ones to pay for surprise costs. 

As for age, only a third of millennials would be able to take care of emergency costs.  That’s compared to 46 percent of Gen Xers and 45 percent of Baby Boomers.

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