For many people, one of the top financial priorities in a post-coronavirus economy will be paying down debt. A poll conducted earlier this year by Creditcards.com found that 51% of American adults.
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Between the economic downturn and COVID-19, consumers are under immense financial pressure at a time when it’s more important than ever to think about saving money and planning for a stronger, post-pandemic recovery. Even amid such great uncertainty, there are still ways to save, get control of debt and credit, and boost financial well-being.
Financial well-being may seem out of reach for many people grappling with heightened unemployment as they grapple with the ongoing pandemic and its impacts. The slowdown in the U.S. economy as a result of COVID-19 has affected every sector of society:
While many individuals and businesses may feel unsettled during this unprecedented economic blow, that is all the more reason to not neglect one’s financial health, says finance expert and Capital One partner Farnoosh Torabi.