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Study shows Americans are spending less, but staying positive this holiday season

Published: Nov. 20, 2020 at 4:49 PM CST
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WAUSAU, Wis. (WSAW) - How are Americans feeling six months into the COVID-19 pandemic? According to Fidelity Investments’ Moving Forward study, anxiety has been on the rise since social distancing first began—and looking ahead to 2021, nearly 70% do not see stress relief happening. Perhaps as a result, 58% say they are financially preparing differently for the new year. The good news: despite the uncertainty, the study also shows Americans are expressing confidence in their abilities to take on the challenges ahead.

This includes the holidays. Although more than 8 in 10 (82%) expect to spend less this holiday season as a result of the pandemic, there is a lot of holiday cheer to be found. In fact, the majority of Americans are staying positive and say they will roll with the changes and create new holiday traditions—and may even enjoy the holidays more because they’ll be simpler.

On Friday, Stacey Watson, senior vice president of Life Events Planning at Fidelity Investments joined NewsChannel 7 at 4 to discuss the findings of the new study, including how Americans are managing both financially and emotionally with major life events such as the upcoming holidays, even in the midst of a pandemic.

Stacey shared tips to help better handle the challenges all of us are facing, both in the next few months and longer term.

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