According to Acorns 2024 Money Matters report, 23% of Americans are concerned with becoming homeless over a number of financial pressures.
Acorns CEO Noah Kerner joins Wealth! to give insight into the report and what Americans can do to prepare so they can alleviate some of those stresses.
"One-third of young people are scared that their current financial situation could land them in homelessness. And I think while you have issues like cost of living, inflation, debt underpinning, all undergirding all of that, what you have is lack of savings, lack of safety net," Kerner says.
He advises to begin saving as soon as possible: "Just get started right away. Don’t wait. I mean, inertia is probably the biggest problem among all these other issues, but the inertia… in society where people just don’t take that step to take control now. So I would say if you’re sitting around thinking about this or if you feel like you’re not in a great position with your money, just take that step now and start saving as much as you can and investing as much as you can every day. And that will not only change your functional life it will change your emotional mindset."
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