Americans have faced a number of financial pressures during the COVID-19 pandemic, including job loss or reduction in household income, increased expenses from working and educating kids at home, medical bills for those who have been affected directly by the coronavirus, and for small business owners, the challenges of staying open amid lockdown restrictions and reduced household spending in many categories.
Here’s a look at how Americans have been coping in this moment of financial crisis.
How Americans Have Adapted Their Saving, Spending and Investing Behaviors
For some Americans without an emergency fund, the pandemic has been a wake-up call about the importance of saving money. Those with the means might have focused on saving more this year, with spending down in categories like travel and entertainment. And some people who never invested before started their hand at entering the stock market. Here’s a look at how Americans adjusted their finances amid these additional pressures — and opportunities.
- 8 Major Ways We’ve Had To Adjust Financially Due To the Pandemic
- What the Past Year Has Taught Us About Spending Money
- The Top Investing Lessons the Pandemic Has Taught Us
- How Our Approach to Financial Planning Has Changed Forever
- How Our Approach to Budgeting Has Changed Forever
- How Our Approach to Investing Has Changed Forever
How Businesses Have Coped
While hundreds of thousands of small businesses closed their doors for good amid the pandemic, others — like Amazon, Target, Zoom and Instacart — saw astronomical growth. Here’s how businesses big and small have been dealing with the challenging financial climate.
- The Industries That Have Changed for Good Due to COVID-19
- What We’ve Learned From Businesses That Are Surviving the Pandemic So Far
- All of the Creative Ways Small Businesses Have Stayed Open the Past Year
How the Economy Has Reacted
After years of growth, the U.S. GDP contracted by over 30% in the second quarter of 2020. Here’s a look at exactly what happened to the economy and where it stands now.
- An Economist Reflects on the Damages Caused by One Year of COVID-19
- By the Numbers: The COVID-19 Economy 1 Year Later
- Where Our Economy Is One Year After Life Changed
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