Balancing Today, Building Tomorrow: How Financially Coping Americans Plan, Save, and Invest

Even before COVID-19, millions of Americans were struggling financially, with more than half the population classified as Financially Coping. As job losses mount, savings are spent down, household debt grows, and investments shrink during the pandemic, Americans need financial support more than ever. This new research sheds light on how providers can support the saving and investing behaviors of Financially Coping consumers, ultimately improving both their immediate and long-term financial health.

Sarah Parker, Senior Director, Financial Health Network

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Meghan Greene, Director, Financial Health Network

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Necati Celik, Associate, Financial Health Network

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Top Takeaways

Preparing for the long term is an important step toward financial health, particularly for those less secure financially. Using original quantitative and qualitative research, we provide an unprecedented look into the planning, saving, and investing behaviors and barriers of the Financially Coping to reveal:

Stretched budgets, debt, and a lack of emergency savings make it challenging for the Financially Coping to plan ahead.

Many Financially Coping Americans regard investing as requiring another level of financial sophistication, making them far less likely to pursue it.

While some Financially Coping Americans lack the funds to invest, others only perceive that they lack the funds, highlighting the opportunity for education from providers.

The wide diversity of segments within the Financially Coping tier offer the opportunity to create meaningful customized solutions across the spectrum.

Data Spotlight

There are six distinct segments within the Coping tier that reveal meaningful differentiators in planning, saving, and investing behaviors that can point the way toward more customized solutions.

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Our Supporters

This report is made possible through the financial support of TD Ameritrade.

Balancing Today, Building Tomorrow: How Financially Coping Americans Plan, Save, and Invest

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The Financial Health Network’s consulting practice draws on industry-leading expertise, customer insights, and measurement strategies to build consumer financial health into your business strategy.

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