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"Gen Z Americans don’t have enough saved to cover a single month of spending," per FORTUNE.
Members of the Gen Z generation — people born after 1995 — were spending twice the amount they had in savings on average in February, according to Bank of America.
Read more: https://t.co/R2Q5y2LcGo
Unusual Whales - News · Gen Z Americans don’t have enough saved to cover a single month of spendingGen Z’s Financial Struggles: Spending Outpaces Savings
Younger Americans are financially vulnerable, with less than a month’s worth of savings to cover their expenses—leaving them at risk should the economy take a downturn.
Spending More Than They Save
According to Bank of America Institute’s latest analysis, Gen Z—those born after 1995—spent twice the amount they had in savings on average in February. This savings-to-spending gap has widened over the past two years and is significantly larg