Halloween is one of my favorite holidays! I’ve got Hocus Pocus on repeat (1 and 2 BTW), pumpkin spice lattes flowing, and I’m soaking in the beautiful weather before things turn cold here in Austin. While there’s a lot of good things to focus on during Halloween, I want to share something very scary with you. In fact, in this episode I’m sharing the spooky reality of millennials and money, with some statistics that will truly turn your stomach!
Here’s a glance at this episode:
- [01:45] Nearly 40% of young adults said they spend more of their money on experiences than necessities like paying bills, in part because they want to share it on social media.
- [04:15] As of May 2022, 58% of Americans — roughly 150 million adults — live paycheck to paycheck. Of those earning $250,000 or more, 30% are living paycheck to paycheck.
- [06:10] Inflation isn’t just hitting gas and groceries. It’s impacting people’s ability to pay rent or purchase a home.
- [09:03] An ideal emergency fund amount would be 3-6 months’ worth of living expenses.