MoneyGeek: New Study Surveys 1,257 Americans Nationwide to Understand Coronavirus Impacts

MoneyGeek, a personal finance technology company, has released a report surveying 1,257 Americans across the United States to understand how their lifestyle and individual and family finances have been impacted by the coronavirus. As reports of industry closures, lost jobs, and mass bulk buying hit the news wire on a daily basis, MoneyGeek ran the survey to better understand the financial impacts and lifestyle changes that have resulted from COVID-19. 

The results yielded from the survey provide an upfront account of the quantitative and qualitative positions that Americans find themselves in and provide a behind-the-curtain look into the lives of those who are currently struggling as a result of COVID-19. 

Some of the key findings in the report include: 

  • Almost half of employed Americans can’t work from home.  47% of employed Americans say they can’t work from home. If trends of stay-at-home orders continue to go into effect across the country, the number of people not working will continue to climb.

  • Americans expect coronavirus disruption to last 8 weeks or less. We asked Americans how many weeks they thought the disruptions would last and the median answer was 8 weeks.

  • American financial fragility is evident in the crisis. 54% of employed Americans surveyed say that their wages have or will decrease due to coronavirus. 43% indicate that they have a bill they will be unable to pay due to lost wages.  

  • 45% of Americans have delayed purchases due to the coronavirus, another 22% expect to delay a purchase soon. Respondents indicated that the types of purchases they are delaying range from birthday gifts to new homes.  

  • Americans plan to clean the house while social distancing. “Watching TV” is the most frequently stated activity to keep busy while social distancing, but “cleaning” shows up as a top plan for many Americans during social distancing.

Live Report: https://www.moneygeek.com/coronavirus/reports/coronavirus-financial-impacts-survey

Survey Methodology
The Coronavirus Financial Impacts Report includes data from an online survey of 1,247 U.S. adults (18+), fielded March 22 — March 25, 2020, powered by Toluna Analytics. These data were weighted and scaled using Toluna’s Ask the Nation feature which weights responses to be nationally representative.

About MoneyGeek
MoneyGeek is a personal finance technology company founded by Doug Jones and Dan Schuessler on May 29, 2018 as an inclusive resource to help people become healthier and wiser. We want to enable anyone to put on their ‘geek’ glasses and make smarter financial decisions. MoneyGeek does the hard work of pulling together know-how, data, and analysis to make decisions easier. Money Geek has sourced 400+ experts across various topics and has been referenced/featured by Forbes, the Library of Congress, Yale University, University of Pennsylvania and hundreds of other government and educational institutions. For more information about MoneyGeek, visit www.moneygeek.com

Press Contact: 
​Hillary Adler
​hillary@moneygeek.com

Source: MoneyGeek

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Tags: coronavirus, covid19, unemployment


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