Many people want nothing more than to say good riddance to the pandemic. However, one year into the pandemic, 34% of Americans felt they would never recover from the financial repercussions. Now, one more year later, it turns out many of them may have been right.
In March 2021, Ramsey Solutions, which is headed by personal finance guru Dave Ramsey, used a third-party research panel to complete a survey from a nationally representative sample of 1,023 U.S. adults to determine the state of their personal finance. A similar survey was completed again in October 2022 which shows a more recent, yet still grim picture of Americans’ personal finance.
Here’s what the study found regarding the state of personal finance in the midst of the pandemic in March 2021, followed by the results of the more recent survey.
Related: How to Salvage Your Finances During Economic Uncertainty