Debt-Weary Millennials More Likely to Have Emergency Cash

More than other age group, millennials are more equipped to have funds available to use for unexpected expenses, indicating a generation weary and leery of debt.

According to a survey from Bankrate, 69% millennials were prepared to deal with emergency expenses by either dipping into savings or cutting back on spending, compared with an average of 61%. Among baby boomers, that number dips down to 56%, meaning that 13% of young people are better at dealing with unexpected financial responsibilities without going into debt than their parents. [Read more…]