I think the economy is ready to rip, Federal Reserve Governor Christopher Waller told CNBC s Steve Liesman during a Friday Squawk on the Street interview. There s still more to do on that, but I think everyone s getting a lot more comfortable with having the virus under control, and we re starting to see it in the form of economic activity.
Still, many households are still dealing with the impact of the pandemic and will be for many years, even as the economy recovers. And, even those who weren t hit as hard by Covid may need to reassess their finances, as lockdowns have shifted priorities and spending habits.
How to get started on a post-pandemic budget recovery plan
As the last year shows, itâs good to have some money socked away for financially challenging times.
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Published Dec. 31, 2020
Many Americans are hoping to get their finances back on track in 2021 after a rough year. Increasing savings, paying off debt and improving credit scores were the most popular goals cited by Americans in a recent NerdWallet survey.
At the same time, many Americans also said they want to keep some of the good habits they developed earlier in the COVID-19 pandemic, like spending less on wants and travel.
The challenge is how to do this amid so much continued uncertainty as we head into the new year. To help you design your own budget recovery plan, we asked financial planners about the advice theyâre giving their clients. Of course, recovery plans depend on individualsâ experiences in 2020.
How to Get Started on a Post-Pandemic Budget Recovery Plan
December 21, 2020 2:46 PM Kimberly Palmer
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Many Americans are hoping to get their finances back on track in 2021 after a rough year. Increasing savings, paying off debt and improving credit scores were the most popular goals cited by Americans in a recent NerdWallet survey.
At the same time, many Americans also said they want to keep some of the good habits they developed earlier in the COVID-19 pandemic, like spending less on wants and travel.
The challenge is how to do this amid so much continued uncertainty as we head into the new year. To help you design your own budget recovery plan, we asked financial planners about the advice they’re giving their clients. Of course, recovery plans depend on individuals’ experiences in 2020.