78% of Americans do not feel confident that life for their children’s generation will be better than their own, the highest percent ever, per WSJ.
The poll also found 65% of Americans were most likely to describe inflation as a major financial concern. That was followed by housing, at 43%, and health care and prescription drug costs, at 41%.
A recent survey also found that of 4,336 respondents who were 18 and above and resided in the United States found that over half had no emergency funds. Specifically, a quarter of them had less than $5,000 saved.
This was according to the CNBC Your Money Financial Confidence Survey, in partnership with Momentive, which aimed to determine where Americans were financially.
The survey also found that over half of the participants lived paycheck to paycheck. This even included people that earned a six-figure salary.
40% of the participants said they have less than $10,000 in savings. 70% of participants said that they were stressed about their personal finances.
Financial planners usually recommend having three to six months' worth of expenses should an emergency happen.
Read more: https://unusualwhales.com/news/53-of-americans-dont-have-emergency-savings-with-1-4-of-them-only-having-5-000
