A study found the percentage of people who cannot afford rent due to COVID-19. Americans are cutting costs or even adopting a minimalist lifestyle to make ends meet. As millions are losing their jobs, people often feel overwhelmed by how much coronavirus has affected the financial status of all individuals. The study also shows about two in five people never use their credit cards anymore since it encourages them to spend more to pay off.
According to the survey conducted by OnePoll, Americans are saving money throughout the disaster by turning off lights, turning off appliances, (46%), closing windows or opening windows instead of AC (36%), and using blinds to adjust room temperature. (33%).
"Another 37% say, however, that they wouldn't even have enough savings to fix appliances if they were to break."
"26% say they haven't paid their cell phone or cable bills. Another 25% failed to pay for streaming services, and perhaps more worryingly, some of their electricity or utility bills."
"58% are battling extra stress over their bills since the pandemic started."
Blowing off Americans financially, there are big money concerns especially for those who don't get financial support from the government.
The survey shows 52% only buy the 'essentials' these days. Another 43 % are no longer buying premium quality goods (toilet paper, gas) in an effort to save some cash. Some are adopting new lifestyles. 41% say they're following a minimalistic approach to life.
