The Covid 19 crisis is still in force. But life does not stop, so humanity has had no choice but to adapt to the new reality. Amid this new normal, Americans say the effects of the pandemic have eroded their personal finances.
It’s not all bad news, though. Citizens of the country of stars and stripes say they have improved their financial habits. Creating savings funds for emergencies and unforeseen events is one of the new customs that is here to stay.
The data
What is mentioned in the first two paragraphs is part of the data reflected in the 2022 Planning and Progress Study, published by Northwestern Mutual. In precise numbers, 60% of Americans say that the effects of the Covid on their finances have been devastating.
Effects of the pandemic and inflation
Although the Covid 19 crisis forced many people to review and control their money management habits, rising inflation during 2022 has harmed savings capacity.
You can read the full report here.
