Gen Z’s Cash Cushion Shrinks After US Summer of Splurge
- Young adults increasingly can’t cover $400 emergency expense
- Discretionary spending on vacations, concerts is slowing down
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The share of American young adults who said they could cover a $400 emergency expense with cash or equivalent dropped for the third quarter in a row, according to a survey out Thursday.
Overall a smaller percentage of Americans said they would be able to pay an unexpected bill, but Gen Z adults in particular are showing higher financial stress as they face the return of student loan payments and higher prices.