Millennials are boosting their “emergency funds” as COVID continues to upend their financial plans. YPulse’s Facing COVID Fears and Finances report found that 78% of Millennials have taken financial actions because of Coronavirus—and according to a TD Ameritrade study, more than half of Millennials said they expect the pandemic to impact on their retirement plans. With “PTSD” from the Great Recession still strong, many are taking this time to cut back on spending, whether they’re ordering less take out, delaying real estate plans, or pausing contributions to IRAs. Stocking emergency funds and paying down debt have also become priorities to stabilize finances. (CNBC)
