Two -thirds of Americans currently feel behind in their savings goals, according to a new study.
The survey of 2,000 Americans, evenly separated from the generation, found that 67% feel this way, with 47% also admitting they will not be “never” to achieve their savings goals.
This is likely to be the second in part to answer.
Six in 10 (63%) of those with savings have withdrawn money from the beginning of the New Year, with one in five (19%) receiving money from five or more times.
Ordered by the current consumer’s bank app for the National Financial Literature Month and conducted by Talker Research, the survey revealed that, unfortunately for Americans, they have been used this money for everything entertainment.
When asked what they were spending their savings, it was suddenly expected towards the list (48%).
This was followed by daily purchases that they otherwise could not afford (36%), Emergenceys (30%) and money for rent or their death (23%).
Only 18% got money to spend on something they were working to save.
The survey revealed that the average respondent is setting $ 496 in savings per month.
But this is not possible for everyone, and the results also found that three to 10 (31%) are setting $ 200 or less on their savings account every month.
Being limited to what they can put in savings – and need to get money to cover unexpected expenses – means 25% of respondents have less money in their savings account now than at the beginning of 2025.
General X was more likely to have lowered their savings to 31%, while millennia were less likely, 19%.
The millennia appear to be keeping stable, with 39% saying their savings stayed the same, while General Z were most likely to have increased money in their account (38%).
“Americans are demonstrating a tremendous consistency and commitment to save, even in challenging times,” said Erin Bruehl, Vice President of Communications, Current. “The fact that people are actively trying to build urgent funds shows their commitment to financial responsibility.
“Over 60% of people need to use their savings this year, pointing out exactly why Americans are awake to try and build this financial pillow. Essential needs.”
The survey also asked respondents about the role their bank plays in their savings habits.
Seventy -one percent of General Zers said their bank has been useful in achieving their goals, compared to 61% of millennia, 51% of General X and 41% of children’s boomers.
Even then, 52% of General Z believe they can get “more” from another bank, which is higher than any other generation.
This can be two in part for three to 10 Gen Zers believe that the benefits offered through their bank are “outdated”, compared to only 11% of children’s boomers.
And this can contribute to 45% of General Z who would be willing to change banks, compared to only 21% of children’s boomers.
“Americans have to choose the financial institutions that help them achieve their goals,” Bruehl said. “Internet or mobile solutions often offer higher savings rates than traditional banks without monthly or minimum balance rates and provide additional benefits such as premature wage access and excessive fees that offer additional pillows when bills are second. Pockets and can help people achieve their goals faster.”
Survey Methodology:
Talker’s research surveyed 2,000 Americans, evenly separated from generation; The survey was ordered by current and administered and carried out online by Talker Research between March 28 and April 2, 2025.
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