Coronavirus and Personal Finance Data

In an effort to clarify how people perceive the coronavirus outbreak is affecting their personal finances, the National Financial Educators Council conducted a survey from March 23 to March 29, 2020.

The objective of the survey was to understand the effects of COVID-19 across three main areas: how prepared people were to meet such an emergency, how the coronavirus has affected people’s financial situations, and the concerns of individuals about the outbreak. The study uncovered the following results of interest:

  • Concerns about contracting the coronavirus were nearly equal to people’s concerns about their personal finances.
  • People reported that COVID-19 has had a “Very Negative Impact” on their financial situations and that they are “Very Concerned” about the impact over the next 3 months.
  • Most people felt “Somewhat Prepared” financially for this crisis.

Biggest Concern: Contracting Coronavirus or Personal Finances

(1,201 respondents)

Select your larger concern now:


Contracting the COVID-19 Virus


Personal Finance Concerns

Current Financial Situation Amid Coronavirus Outbreak

(1,201 respondents)

What impact has the COVID-19 outbreak had on your personal finances?


Very Positive Impact


Somewhat Positive Impact


Neither Positive nor Negative Impact


Somewhat Negative Impact


Very Negative Impact

Future Concerns: Personal Financial Situation Over 3 Months Considering Coronavirus

(1,201 respondents)

How concerned are you that the COVID-19 virus will have negative impact on your personal financial situation over the next 3 months?


Very Concerned


Somewhat Concerned




Not Very Concerned


Not Concerned at All

Financial Readiness for Coronavirus Pandemic

(1,201 respondents)

At what level do you feel you were prepared for the COVID-19 pandemic, in terms of your personal finances?


Very Prepared


Somewhat Prepared


Neither Prepared nor Unprepared


Somewhat Unprepared


Very Unprepared

Note from the NFEC

We hope you, your loved ones, and your family are well. The coronavirus traveled out of China to disrupt the daily routines of people around the globe. We all are affected, and together we can work through this crisis.

Our team remains focused on helping people improve their financial wellness and we are pushing forward. Although everyone is currently working remotely, we are back to business as normal.

Our mission – to help people work toward greater financial strength and security – has become even more galvanized by this crisis. In times like we are experiencing now, having that financial security is even more critical. Let’s come through this with a greater passion and push to help others improve their financial situation.

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