Order Report - Timely Topic: Impact of COVID-19 on Saving, Investing and Advice: Executive Highlights from March 25-30 Tracking Data
Our special tracking appendix examines the impacts of the COVID-19 crisis on U.S. consumer finances, attitudes and behaviors. This just-fielded data reveals impacts by generation, asset level, and work and health status. The analysis looks at income and spending cut-backs, changes in goals and financial actions, changes to investment mix and more.
This new 66-page report features 46 exhibits. See table of contents and sample pages below.
Select Key Findings
- Consulting sources of saving and investing information and advice is up 2-5x depending on source.
- Almost two thirds (63%) of households are planning to spend less, irregardless of work status.
- Goals for saving and investing are shifting with the percentage of millennials who plan to buy homes plummeting from 36% in 2019 to 2% in March 2020.
About the Hearts & Wallets Investor Quantitative™ COVID-19 Tracking Series
Hearts & Wallets has launched a new resource to track the impact of COVID-19 on U.S. consumer finances, attitudes and behaviors.
While we can't be on the frontline of health care, we can make a difference within our area of expertise – solutions for how consumers save, invest and seek advice. Our goal is to collaborate with the industry to inspire solutions that will improve consumer financial outcomes.
This COVID-19 report is from a March 2020 fielding of 845 U.S. consumer households, which is appended to our main Investor Quantitative™ Database of over 50,000 households going back to 2010. Additional reports will be issued as we return to the field to track changes resulting from this crisis.
In addition to the report, Hearts & Wallets has launched a new data resource, delivered in our easy-to-use software, which is available at no charge to strategy, solution and innovation professionals in retail finance. Sign up here.
Gain insights in 14 areas: health, employment, income, spending, use of time, concerns, feelings, advice-seeking behaviors, financial goals, attitudes, asset allocation, and actions taken and planned. Guest users may access segmentation, data visualization and cross-tab features. Full users of our software have the ability to track trends over time and analyze how customers of specific firms are responding.