Personal Finance

Young Americans Struggle to Save, Raising Concerns Among Financial Experts

Student loans, credit card debt, and the ease of spending with a smartphone all take a toll on saving, and that could jeopardize retirement security.
Young Americans Struggle to Save, Raising Concerns Among Financial Experts
Teens check their phones at Roosevelt Field mall in Garden City, N.Y., on July 27, 2015. Seth Wenig/AP Photo
Juliette Fairley
Juliette Fairley
Freelance reporter
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Financial experts are increasingly concerned about studies showing that young adults in the United States are falling behind in savings at an alarming rate. Some organizations are working to promote financial literacy and encourage better saving habits.

The latest survey by financial services company Empower found that more than 21 percent of Americans lack emergency savings—funds set aside for unexpected expenses such as medical bills, job loss, or other financial emergencies.
Juliette Fairley
Juliette Fairley
Freelance reporter
Juliette Fairley is a freelance reporter for The Epoch Times and NTD and a graduate of Columbia University’s Graduate School of Journalism. Born in Chateauroux, France, and raised outside of Lackland Air Force Base in Texas, Juliette is a well-adjusted military brat. She has written for many publications across the country. Send Juliette story ideas at [email protected]