58% of Gen Z and 54% of millennials have increased their savings in 2025

By Mark Huffman of ConsumerAffairs

• Six in 10 Gen Zers (58%) have increased their savings since the start of the year, and 69% made sacrifices to save in Q2.

• More consumers are considering using CDs to grow savings. This interest is highest among Gen Z, but their limited familiarity with these accounts may prevent utilization.

• A majority of consumers (63%) see digital banking options as offering more competitive rates to help them grow their savings.

A new survey from Santander Bank shows that younger Americans are outpacing older generations when it comes to building their savings in 2025, with Gen Z and Millennials leading the charge.

According to the latest Openbank Growing Personal Savings (GPS) Tracker, 58% of Gen Zers and 54% of millennials have increased their savings since the start of the year. By comparison, 47% of Gen X and 39% of baby boomers reported boosting their savings.

The report suggests that younger consumers are particularly focused on their financial futures. A strong majority of Gen Z (81%) and millennials (79%) said that saving money is a top priority for them in 2025. To achieve that goal, 69% of Gen Zers and 62% of millennials have made lifestyle trade-offs in the past three months, cutting back on expenses in order to put more money aside.

Its encouraging to see younger consumers embracing the importance of saving, said Swati Bhatia, head of Retail Banking & Transformation for Santander Bank. They are showing real determination as they find ways to cut spending and build savings, even in a challenging environment. These savers now have an opportunity to grow their savings further by using high-yield savings accounts and CDs that are currently offering meaningful interest rates.

Missing out on higher yields

Despite the focus on saving, many Americans arent maximizing their returns. The survey found that 43% keep their savings in traditional savings accounts and 31% use checking accounts, both of which typically earn little to no interest. Among Gen Z savers who know their accounts interest rate, only 38% are earning a competitive yield, defined as at least 3.00% annual percentage yield (APY).

One bright spot is that certificates of deposit (CDs) are gaining traction, particularly among younger savers. While just 8% of Gen Z currently own a CD, nearly three-quarters (74%) expressed interest in opening one before potential Federal Reserve rate cuts later this year.

The survey also highlights the importance of choosing the right banking partner. Eighty-two percent of consumers said that working with the right financial provider is crucial to meeting their savings goals. Many view digital banks as offering more attractive rates, and over 80% said they would consider a digital bank as their primary provider.

Physical locations still matter

At the same time, physical bank branches still matter 70% of consumers reported they would feel more confident in a digital bank if it also had brick-and-mortar locations.

Consumers are telling us they want the best of both worlds competitive digital offerings paired with the confidence that comes from the backing of a financially strong bank with a physical presence, Bhatia said. As we expand into a full-service digital bank with branches, were focused on delivering strong savings and lending solutions, seamless digital experiences, and outstanding customer service that matter to consumers as they strive to reach their financial goals.

The GPS Tracker also found that setting goals and sticking to budgets makes a big difference. Nearly half (48%) of consumers who hit their savings targets did so by cutting discretionary spending, while 41% credited consistent budgeting, and 24% used automatic transfers to move money directly into savings.

Overall, 70% of consumers with high-yield savings accounts or CDs increased their savings in 2025, compared to just 38% of those without such accounts.

But industry analyst predicts its all downhill from here

By Mark Huffman of ConsumerAffairs

• Record EV Sales in August: Electric vehicle sales reached an all-time high of 146,332 units, nearly 10% of total vehicle sales, likely driven by consumers rushing to claim the $7,500 federal tax credit before its expiration on September 30, 2025.

• Analysts Predict Decline: Experts, including Karl Brauer of iSeeCars, believe Q3 2025 marks a peak for EVs, with sales and market share expected to fall sharply in Q4 and beyond, potentially stabilizing around 4% of new car sales through 2028.

• Hybrids Rising, EVs Losing Value: While EV market share has stalled and many models are losing resale valueTesla models leading the declineshybrids and plug-in hybrids are projected to grow due to lower costs and improved efficiency.

Electric vehicle sales surged in August, to a record 146.332 vehicles sold, according to Cox Automotives Kelley Blue Book. EVs accounted for just under 10% of all vehicles sold.

Does that mean EVs have finally won over drivers? Maybe not. It may be evidence of last-minute buying to take advantage of the federal EV tax credit that expires at the end of September.

Karl Brauer, executive analyst at iSeeCars.com, believes the third quarter of 2025 may turn out to be a high water mark for EVs, with sales falling in the future.

With the $7,500 EV incentive ending on Sept. 30, we've hit peak electric vehicle sales and market share in the U.S. at least for the next few years, Brauer said in an email to ConsumerAffairs.

Brauer said iSeeCars has been tracking EV market share in cities and states for several years, and the data consistently showed between 7% and 8% as the tipping point where growth in EV share slowed dramatically. And that was with the $7,500 incentive in place.

With both the electric vehicle credit for consumers and the regulatory requirements for automakers going away this fall, there will be a substantial drop in electric vehicle production, sales, and market share starting in Q4 2025, Brauer said. This drop will continue for the foreseeable future.

Brauer believes the EV share of car and truck sales will likely settle in around 4% of new car sales for 2026 through 2028.

Hybrids remain popular

Conversely, hybrid and plug-in hybrid share will grow substantially over this same period as hybrid component costs drop and efficiency gains rise through the use of this technology, he said.

Predictions that electric vehicles would make up between 20% and 50% of new vehicle sales by 2030 were common just a few years ago. But new EV market share has stalled at 6.9%, and even declined over the past 12 months, according to Cox Automotive. Most EVs cost more than their gasoline equivalent when new, limiting demand even with the $7,500 incentive.

Clues about future EV sales may be found in the used car market. Data from iSeeCars show the used EV supply is up 61.8% in the past year, but demand isn't keeping pace and prices are dropping.

EVs make up half of the top 10 used cars with the biggest 12-month price drops. Tesla's Model X, S and Y lost more value over the past year than all other used vehicles.

A closer look at the hidden gap in diabetes diagnosis around the world

• In 2023, about 44% of people aged 15 and over living with diabetes didnt know they had it.

• Under-diagnosis is especially high among younger individuals.

• The study reveals a global snapshot of the diabetes care cascadefrom awareness to treatment.

Imagine almost half the people who have diabetes don't even know it.

That's exactly what researchers uncovered in a major global analysis published in 2025.

Despite diabetes being a widespread and serious health issue, a huge chunk of those affected remain undiagnosed. This isnt just a number its a wake-up call about the gaps in detection and care around the world.

By 2050, 1.3 billion people are expected to be living with diabetes, and if nearly half dont know they have a serious and potentially deadly health condition, it could easily become a silent epidemic, researcher Lauryn Stafford said in a news release.

The study

The study comes from the Global Burden of Disease research, which examines health trends worldwide.

Researchers looked specifically at the "cascade of care" related to diabetes in 2023 from who has the condition, to who knows about it, to who receives treatment. They focused on people aged 15 and older, gathering and analyzing data across countries and regions to understand where breakdowns in detection and treatment are happening.

What the study found: the numbers behind the gap

Heres the tough truth: in 2023, 44% of people aged 15 and older with diabetes were unaware of their condition.

Thats nearly half of all individuals living with the disease many without treatment or necessary lifestyle adjustments flying under the radar.

On the other hand, over 90% of those who knew they were diabetic were receiving treatment for the disease. However, of that group, just 42% had a handle on maintaining healthy blood sugar levels.

Overall, these findings found that 21% of all diabetics around the world had the disease under control.

Trends in diagnoses

The largest share of undiagnosed cases were found among younger populations. In other words, younger people with diabetes are at notably higher risk of being unaware they have it.

The researchers also found that certain demographic factors impacted the rate of diagnosis and treatment of diabetes.

For instance, diabetics in Southern Latin America had the highest rates of blood sugar management. Similarly, high-income diabetics in Asia-Pacific had the highest rates of diabetics receiving treatment. On the other hand, individuals in Central Sub-Saharan Africa had the lowest rates of diagnosis.

The broader context reminds us that diabetes remains a profound global health challenge not only for those diagnosed, but for those who havent even been identified yet.

COVID-19 is no longer a top 10 cause of death

• The U.S. saw roughly 3.07 million deaths in 2024, with a notable 3.8% drop in the overall age-adjusted death rate compared to 2023.

• Mortality fell across most age, sex, and racial/ethnic groups, though the highest death rate remained among Black non-Hispanic individuals, and infants didnt see a meaningful decrease.

• Heart disease, cancer, and unintentional injuries remained the top causes of death, while COVID-19 dropped out of the top 10 for 2024.
  

The Centers for Disease Control and Prevention (CDC) has released provisional data on the U.S. death rate in 2024. The latest report includes information on death certificates processed up to June 1, 2025.

While there is plenty to unpack from these findings, two of the biggest headlines:

• The overall U.S. death rate is the lowest its been since before the COVID-19 pandemic.

• COVID-19 is no longer a top 10 cause of death.

Provisional death estimates can give researchers and policymakers an early signal about shifts in mortality trends and provide actionable information sooner than final mortality data, the report states. These data can inform public health policies and interventions aimed at reducing mortality.

The study

Researchers at the National Center for Health Statistics used death certificate data covering over 99% of deaths in 2024.

They broke things down by age, sex, and race/ethnicity. Causes of death were classified using the standard ICD-10 system, then ranked based on how often they showed up as the underlying cause.

The researchers used U.S. Census population estimates from mid-2024 to calculate death rates, including age-adjusted rates (to account for population age differences) and simple age-specific rates. Statistical tests ensured comparisons were reliable (p-value

The results

In 2024, there were approximately 3,072,039 deaths in the U.S. Overall, the age-adjusted death rate fell to 722.0 per 100,000 people, down from 750.5 in 2023 a 3.8% decrease, which marks the lowest rate since 2020.

Death rates declined across nearly all age groups except infants (under 1 year) showed no significant change and most demographic groups too. Men continued to have a higher death rate than women (844.8 vs. 613.5 per 100,000.

Among different racial and ethnic groups, the lowest age-adjusted death rate was among multiracial non-Hispanic individuals (332.3), while the highest was among Black non-Hispanic individuals (884.0).

The study also broke down the top 10 causes of death across the United States. Notably, COVID-19 has been removed from that list.

Heres a look at the full list:

• Heart disease (683,037 deaths)

• Cancer (619,812)

• Unintentional injuries (196,488)

• Stroke (166,783)

• Chronic lower respiratory diseases (145,612)

• Alzheimers disease (116,016)

• Diabetes (94,382)

• Kidney disease (55,070)

• Chronic liver disease and cirrhosis (52,529)

• Suicide (48,863)