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News Ticker

60% of Millennials Don’t Have $500 in Savings Ahead of Next Recession

By Tyler Durden | 18 April 2019

ZERO HEDGE — Almost ten years after the Great Recession ended, a new survey reveals millennials have no savings amid rising probabilities of an imminent recession.

Banking company Varo Money found that six out of ten millennials don’t have $500 to cover their rent or food expenses, in the event they lose their jobs in the next downturn. That percentage is slightly higher for millennial women, 65% of whom don’t have any savings at all. Suggesting when the next economic downturn strikes, these youngsters will have no financial cushion – could send them back to their parents’ basement.

When it comes to saving for the rest of the deadbeat nation, the picture is equally worse. […]

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