Check out the third paragraph:
More than two-thirds of Americans experienced financial setbacks in 2020 due to job loss, declining household income or a drawdown of emergency savings, according to a new Fidelity study.
The report by the financial services company also looked at how Americans plan to handle their finances as they head into 2021 and continue to face challenges brought on by the COVID-19 pandemic.
Of the 3,011 surveyed adults, over 38% said they will spend the year in “survival mode,” meaning they’ll focus on the day-to-day rather than long-term goals to try to get themselves and their families through 2021.
Although some respondents maintained their usual income over the past year, 68% had setbacks. Of those, 23% lost a job or household income; 20% had an unexpected non-health emergency; 18% had to provide unexpected financial aid to family or friends; and 16% had a health emergency in their family.
Economy 2021: These are the biggest concerns for Americans next year: