(NewsNation) — A new survey from Bankrate has revealed 33% of adults in the United States have more credit card debt than emergency savings, down from 36% in 2024 and 2023.
Bankrate’s 2025 Emergency Savings Report found this year’s percentage is still higher than in 2022, when 22% of Americans had more credit card debt than emergency savings.
When broken down into age groups, millennials are most likely to have more debt than savings, with 42% falling into that category. Despite this, nearly three in four Americans (or 73%) are saving less money for emergency situations due to rising prices.
What does January’s inflation report mean for me?
“The cost of living continues to rise, prompting more individuals and households to turn to credit cards when in a bind,” said Mark Hamrick, Bankrate’s senior economic analyst.
In January, the consumer price index increased 3% from a year ago, according to data from the Labor Department.
