NEW YORK — While there is no question 2020 has been an unparalleled health challenge, many are not losing sight of how devastating the year was for their wallets as well. A new survey finds over half of Americans (55%) consider 2020 a personal financial disaster.

The OnePoll survey asked 2,000 Americans what their financial status and future goals are for 2021. It’s a poignant question as 59 percent say 2020 has been filled with financial setbacks for them. Seven in ten say their financial priorities have changed from the start of 2020 to now. For 63 percent, this year has permanently changed their financial priorities.

More than six in 10 Americans (65%) are depending on 2021 to recover financially from the setbacks they’ve experienced during the pandemic. For nearly four in 10 (37%), that includes making serious cutbacks.

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Three in four respondents (74%) have had to shift their financial priorities this year because of emergency or medical expenses. Half say putting more money aside has gained new importance due to their experiences in 2020. Almost as many (48%) admit that saving for an emergency fund was a new priority this year as well.

Commissioned by World Finance, the survey finds, on average, Americans need a minimum of $10,726 in savings in order to feel financially comfortable.

Read more at Study Finds