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