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While Many Americans Are Not Touching Savings, Others Find It Difficult To Do The Same, Amid COVID (Image: iStock/Prostock-Studio) Damaging events caused by the pandemic such as job losses and big income cuts have made it difficult or impractical for many folks to hoard cash and not dip into their nest egg. Simultaneously, a global poll done by one of the world’s largest independent financial advisory and fintech groups found that 7 out of 10 people will not squander the excess savings acquired from decreased spending and transportation costs. When questioned by the deVere Group ‘Are you likely to spend the majority of the extra money you have managed to save over the last 12 months?’ 72% said  ‘no’. Some 16% of respondents said  ‘yes’ and 12% ‘did not know.’

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