CHARLOTTE, N.C., Aug. 25, 2021 /PRNewswire/ -- LendingTree®,
the nation's leading online loan marketplace, released its survey
surrounding the emotional reactions Americans experienced during
the pandemic due to the financial impacts of COVID-19. The survey
found that more than 4 out 10 Americans cried about money during
the pandemic; job and income loss were the most common reasons for
crying.
Key findings
- More than 4 in 10 Americans admitted to shedding tears over
their financial situation during the COVID-19 outbreak.
- About twice as many women (55%) admitted to crying about
money during the pandemic than did men (29%). Parents of
children under 18 (60%) and millennials (59%) were also more likely
to report shedding tears over money since March 2020.
- Job or income loss (42%) was the No. 1 cause for crying
during the pandemic. Other top reasons were centered around
affordability of needs and wants (33%) and facing debt (31%).
- Some consumers have had a "happy cry" during the pandemic,
thanks to stimulus checks (26%) or paused student loan payments
(9%), among other reasons.
To view the full report, visit
https://www.lendingtree.com/personal/cry-about-money-pandemic-survey/
Methodology
LendingTree commissioned Qualtrics to conduct an online survey
of 2,050 U.S. consumers from Aug. 2-6,
2021. The survey was administered using a
non-probability-based sample, and quotas were used to ensure the
sample base represented the overall population. All responses were
reviewed by researchers for quality control.
We defined generations as the following ages in 2021:
- Generation Z: 18 to 24
- Millennial: 25 to 40
- Generation X: 41 to 55
- Baby boomer: 56 to 75
While the survey also included consumers from the silent
generation (defined as those 76 and older), the sample size was too
small to include findings related to that group in the generational
breakdowns.
About LendingTree
LendingTree (NASDAQ: TREE) is the
nation's leading online marketplace that connects consumers with
the choices they need to be confident in their financial decisions.
LendingTree empowers consumers to make smarter financial decisions
through choice, education and support. Consumers can compare
multiple offers from a nationwide network of over 500 partners in
one simple search, and can choose the option that best fits their
financial needs. Services include mortgage loans, mortgage
refinances, auto loans, personal loans, business loans, student
loans, insurance, credit cards and more. Through the logged-in
experience, consumers receive free credit scores, credit
monitoring, recommendations to improve credit health, and
notifications when the proprietary algorithm identifies a savings
opportunity. LendingTree, LLC is a subsidiary of LendingTree, Inc.
For more information, go to www.lendingtree.com, dial 800-555-TREE,
like our Facebook page and/or follow us on Twitter
@LendingTree.
MEDIA CONTACT:
Nelson Garcia
nelson@lendingtreenews.com
704-943-8208
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SOURCE LendingTree