If you've taken a step back to review your finances during the pandemic, you're certainly not alone. A new survey revealed 58% of Americans have "completely" changed how they think about money due to the pandemic and nearly as many (56%) believe their concept of financial well-being has been altered since the pandemic. The study of 2,000 Americans explored the impact financial wellness has on their mental and physical health. In fact, the pandemic caused 48% to increase the amount of money they believe they need in their rainy day or emergency fund.
Conducted by OnePoll on behalf of Capital One, the survey found respondents added one month of emergency expenses to their savings (an average of five months pre-pandemic to six months now). Three in 10 respondents said their top financial struggle is establishing good spending habits, so it's no wonder the top habit they want to change is spending on items they don't really need (44%).