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Pandemic Leading to Better Financial Behaviors: Study

The pandemic has had a positive impact on some people’s financial habits, according to a new survey of 1,204 adults from Cleveland-based Key Bank. So reports Financial Advisor.

keybankThe survey, 2020 Financial Resiliency Survey, found that the percentage of adults in charge of their family’s finances that could afford an unexpected $2,000 bill jumped from 42% at the start of 2020 to 51% by early October. Furthermore, 41% of respondents said they were saving more and spending less since the beginning of the pandemic. 

“Given the major toll the pandemic has taken across the country—from lost income to sickness and loss of loved ones—Americans have demonstrated strength under pressure, ability to respond to a tough economic environment and resilience in the face of financial hardship,” KeyBank said in a statement, according to the publication.

Read the full article from Financial Advisor.

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