The coronavirus pandemic has thrown millions of Americans into chaos, negatively affecting financial well-being alongside physical and mental health. As unemployment rates soar and money insecurities abound, a new NerdWallet survey finds almost half of Americans (48%) are indeed feeling less confident about their personal finances due to COVID-19.
In a survey of more than 2,000 U.S. adults commissioned by NerdWallet and conducted online by The Harris Poll, we asked Americans how COVID-19 is affecting their finances — including spending and saving habits, feelings about homebuying and investing, and money plans for the end of the pandemic.
- Income impact: Close to 7 in 10 Americans (69%) say their household income has been negatively impacted by COVID-19, including 80% each of millennials (ages 24-39) and Gen Zers (ages 18-23).
- Stimulus saving: More than one-third of Americans (36%) plan to use/have used their stimulus check to save and/or invest; the