In this exciting episode of the Holistic Wealth podcast, I’m distilling some great strategies and tips to help you spring clean your personal finances. Spring often means renewal, rejuvenation and since we're also in the midst of spring cleaning our homes and wardrobes, our personal finances should also get some concierge treatment. It couldn’t come at a better time given the economic impacts of COVID-19.
Due to the impact of the COVID-19 pandemic on people’s finances, around 145 million Americans say they cannot afford another year like 2020, according to WalletHub’s new Coronavirus Money Survey, released today. This survey illustrates some of the ways in which COVID-19 has impacted Americans’ lives and spending habits. According to the survey, money problems are a huge source of stress and have now surpassed COVID-19 as being the top stressor in America, a 15% change since last year. The pandemic causes more need for credit cards, as 29 Million more Americans say they will apply for a new credit card this year due to coronavirus, compared to last year.
The survey revealed that women’s spending has increased. Women are 16% more likely than men to say they spend more money due to coronavirus. Many Americans have also decided to start saving, as 61% of Americans are saving more money during the coronavirus pandemic, rather than spending more. Touching cash is less scary, and about 30% fewer people than last year believe it is possible to contract COVID-19 from money. Join us for this exciting episode of the Holistic Wealth podcast, where we outline some great tips and strategies to help you spring clean your finances!

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