*By Carlo Versano*
Sixty percent of millennials would have to beg, borrow, or steal if confronted with a mere $1,000 in emergency expenses, according to a new [survey](https://www.prnewswire.com/news-releases/lendingtree-survey-finds-more-than-half-of-americans-cant-cover-a-1-000-emergency-with-savings-300769040.html) from LendingTree, which defines the generation as those between 22 and 37 in age.
But the rest of the country doesn't fare much better. Only 42 percent of Gen-X could come up with a grand to cover an emergency, and just 60 percent of Boomers. All told, less than half of all Americans could cover the cost with cash or savings.
The other half said they'd either borrow from family or friends (16 percent), sell something or use a credit card (9 percent each), work more (7 percent), or take out a loan (6 percent).
Brian Karimzad, vice president of research at LendingTree, told Cheddar that millennials were least prepared in part due to the combined $1.5 trillion in student loan debt they are carrying. But asked whether they fared worse than past generations at the same point in time, he said: "the answer is mixed."
Obviously, younger generations are more stretched and less liquid than older generations, though Karimzad noted that millennials born in the 1980s had 34 percent smaller net worth than would have been predicted based on prior generations.
And yet, there is reason to remain optimistic. "This is the most educated generation in history," he said. As millennials advance in their careers and earning potential, that 60 percent number will shrink.
In the meantime, he has some age-old advice: Save. A 401(k) that automatically debits from a paycheck is the best way to avoid the temptation to spend that money instead, he said. However, he noted that money would not typically be available in an emergency situation.
"Try to force that savings," he said. It may be the difference between bouncing back from an emergency or going bankrupt.
For full interview [click here](https://cheddar.com/videos/60-of-millennials-dont-have-enough-for-emergency-expenses).
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
