3 in 5 Americans Hit Financially by Coronavirus: Survey

Looking ahead, 21% of all Americans in the survey and 28% of those with children under 18 expected their finances to be severely affected by the pandemic. Another 35% said their finances would be somewhat affected.

Forty percent of survey participants — including 44% of employed millennials and 51% of employed Gen Zers — said their paycheck had been hit by the coronavirus' spread. Thirty-five percent had had their hours at work reduced or eliminated, and 5% had lost tips or commissions.

One thing COVID-19 has not shut down is bills. Forty-four percent of survey respondents said they were worried about their ability to pay their rent or mortgage. 

They were also worried about paying off credit card debt, making insurance premium payments and paying down student loan debt. And 17% were not sure they could cover the cost of treatment if they should contract the virus.

Twelve percent of Americans surveyed also expressed concern about losses in retirement accounts or other investments, another 12% about losing their jobs and 4% about finding care for children home from school.

— Check out Fed Opens Floodgates as Investors Flee to Cash on ThinkAdvisor.