For one in three Americans, a single surprise bill could spell financial crisis.
“More than half say saving for emergencies feels ‘almost impossible’ with how expensive everything is right now,” the study said.
“Close to half (46%) say their emergency savings account has less money compared to a year ago and more than 2 in 5 (42%) say their savings wouldn’t help them if they lost their job today,” the survey found.
Gen Z has found it especially difficult to manage the cost-of-living crisis while being expected to have money left over to save.
“Their debt feels heavier because it hits earlier—right as they’re launching their careers,” she added.
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