Who has more credit card debt versus emergency savings [Video]

GREENSBORO, N.C. — How much credit card debt do you have versus the amount of money in your emergency fund? A Bankrate survey of a thousand people shows for 36% of them, credit card debt was higher than the money they had in emergency savings. That’s the highest percentage since Bankrate’s polling began in 2011. 

“The thing about emergency savings is, it is your buffer between you and high-interest rate debt when unplanned expenses arise.,” said Greg McBride, Bankrate’s Chief Financial Analyst.

When it comes to how the generations deal with money, the survey showed that GenXers (47%) and Millenials (46%) were significantly more likely to have more credit card debt than emergency savings. GenZ came in third with 32%  and Baby Boomers had the smallest percentage at 26% with debt and savings.

So, how do you get those stats to flip? Bankrate experts say save and pay down debt at the …