(NewsNation) — A new survey from Bankrate revealed that 33% of U.S. adults have more credit card debt than emergency savings. This is down from 36% in 2024 and 2023.

Bankrate’s 2025 Emergency Savings Report found that this year’s percentage is still higher than in 2022 when only 22% of Americans had more credit card debt than emergency savings.

When you break it down into age groups, millennials were most likely to have more debt than savings, with 42% falling into that category. Despite this, nearly three in four Americans (or 73%) are saving less money for emergency situations due to rising prices.

“The cost of living continues to rise, prompting more individuals and households to turn to credit cards when in a bind,” Mark Hamrick, Bankrate’s senior economic analyst, says.

In January, the consumer price index increased 3% from a year ago, according to data from the Labor Department.