1 In 3 Households Say They Don't Have Enough Savings To Last A Month If They Lose Their Job

An astonishing 33% of U.S. households say they lack enough savings to cover a single month of expenses if faced with job or other income loss.

A new survey found that 39% of women and 41% of Millennials are most at risk of being unable to afford their bills and expenses for even one month if they were to lose their jobs, compared to 28% of men.

The results come from the annual Yahoo Finance/Marist poll looking at the financial vulnerability of households with bank accounts by generation.

For the most part, the findings showed families with bank accounts "are not enthusiastic about the money they have saved."

26% of banked households said they are "somewhat satisfied" with the amount of money in their savings while 48% said they have saved less money this same time last year.

Rising living costs pose the biggest challenge to saving, with 67% of households describing their local cost of living as unaffordable, and 47% citing the cost of living as their "biggest challenge" to increasing their savings.

Roughly 26% of households said they could remain financially afloat for one to three months after losing their job, while 18% said they could cover their expenses for four to six months.

If faced with a financial crisis, 26% of banked households would spend out of their savings.

Savings data continued to reflect a generational divide, with Baby Boomers more likely to live comfortably, while younger adults, typically Millennials, struggle to meet basic expenses.

The two demographics that feel the financial squeeze the most are 71% of Millennials and 72% of women.

Despite these challenges, 60% of households remain optimistic about their savings in 2025.