HOBOKEN, N.J.–A lot can change in two weeks, a new consumer survey shows.
Two weeks after LendEDU first surveyed Americans over how the coronavirus pandemic is affecting their finances, a second survey has found a sizeable uptick in their money concerns.
Among the new findings in the LendEDU survey of more than 1,000 Americans:
- 12% of Americans said they have lost their jobs due to COVID-19, compared to just 6% from its first survey two weeks ago.
- 24% of Americans have seen no changes to their job compared to 35% the first time, while 13% have been furloughed compared to 11% two weeks earlier.
- Money spent on food and supplies increased by 88% from two weeks ago, to 631.06 from $335.65.
- 51% of Americans said they have had to use money from a savings account or emergency fund compared to 44% from the first survey.
- 72% are worried about their retirement savings compared to 63% from two weeks ago.
- 30% of eligible respondents will save the $1,200 payment being made by the federal government to most Americans, while 30% will spend it on food/supplies, and 20% will use it for a rent or mortgage payment.
The full survey’s response can be found here.