Millennials face a spectrum of financial challenges and fear that they have little maneuvering room in case of an emergency.
• Nearly 50% don’t believe they could come up with $2,000 if an unexpected need arose within the next month
• Nearly 30% are overdrawing on their checking accounts
• 53% carried over a credit card balance in the last 12 months
Millennials, in general, are financially fragile, meaning that they do not possess the tools to cope with even midsize financial challenges.