A new story from News and Perspective with Tom Hutyler


Millennials more likely to have more credit card debt than emergency savings More so Than any other generations on Guim in in a situation where compared to men, they're more likely to have credit card debt exceeds an emergency savings and also more likely to prioritize paying down that debt relative the building up savings, you know that there are still a lot of Eyes to dot and peace to cross When it comes to getting those savings accounts built up. A lot of people still don't have them. Absolutely. And you know, the thing about it is the credit card debt can appear suddenly when you have an unplanned expense or joblessness or medical event on yet the savings takes a long time to build up. And yet it's kind of the opposite, where it takes a long time to pay down the credit card debt, but that emergency savings can get wiped out very quickly. A lot of people found that out in 2000 and 20, and this year and next year is going to be all about building that backup on bright sizing that financial equation again quite a disparity when it comes to gender with regard to savings versus a paying down the debt. Yeah. I mean, it's you know, I guess you know what the old saying, you know, Matter from Mars, Women are from Venus or whatever you know men more likely to have war savings and credit card debt more likely to be prioritizing building up that savings relative of paying down credit card debt. And when we saw the exact opposite with women, and you know again, I think of that. Is a reflection of the fact that we have seen unemployment and income disruptions affecting women more so than men during this recession, all right, interesting stuff. And that's the dude bankrate dot com Study just came out yesterday. Thanks for breaking it down for us, Greg that is baker dot com. Senior financial analysts are chief financial Evans, Greg McBride. Come on who's timed out 9 20 Man. It's time as we do a 2050 past each hour to check the propel insurance business update. Microsoft reportedly made overtures.

Coming up next