This study examines generational differences in emergency fund savings adequacy between Millennial (born 1981-1996) and Generation X (born 1965-1980) households using 2022 Survey of Consumer Finances data. Using Precautionary Savings Theory as the conceptual framework, this research analyzes how income uncertainty, risk aversion, and borrowing constraints influence emergency fund adequacy across 2-, 3-, and 6-month savings thresholds. The sample includes 11,675 households: 6,705 Gen-X and 4,970 Millennials. Chi-square analysis reveals statistically significant generational differences with Gen-X consistently outperforming Millennials across all thresholds. At the 6-month comprehensive measure, Gen-X demonstrates 23.0% adequacy compared to Millennials' 19.0%. For Gen-X, homeownership dramatically increases odds across all thresholds while for Millennials, spending less than income proves most critical at the 2-month. These findings suggest that financial education programs, professional recommendations, and policy interventions should adopt generation-specific approaches rather than universal strategies. The research highlights the importance of understanding generational contexts when developing emergency fund guidelines and financial wellness programs.

Accepted Oral Presentation