Americans Prioritize Saving Since Start of Pandemic

A majority of American have prioritized saving money since the start of the pandemic, according to a new report from Regions Bank. Of those surveyed, 77% said they are saving more or maintaining the same amount of savings since the start of the pandemic in March and 10% of those said they have saved a “significant amount” more money. To increase savings, 33% of those that saved more responded that they adjusted their budgets to do so.

Meanwhile, 45% percent of all respondents said they have adjusted short-term financial budgets during COVID-19. About 70% said they would not be making big-ticket purchases like a home, furniture, cars or electronics despite lower interest rates, according to the survey.