Hard times: One in four Americans have missed a bill payment since COVID-19 emerged

Study Finds:

Paying off bills is hard for many these days, and a new survey shows that Americans are cutting costs or even adopting a ‘minimalistic’ lifestyle to make ends meet.

From our social lives to professional careers, life as we know it has shifted since the beginning of 2020. Well, almost everything; millions may have lost their jobs due to COVID-19, but that doesn’t mean the bills have stopped coming. Indeed, paying off bills are an unavoidable part of life, even during a pandemic. Unfortunately, a new survey of 2,000 Americans finds that one in four (24%) have already missed at least one payment since the pandemic began.

Among that group, 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 utilities bills.

On average, Americans who admit to skipping a bill payment have missed five bills altogether.

Commissioned by EnergyBot, the survey set out to gauge just how much COVID-19 has dealt a blow to Americans financially. Predictably, money is a big concern these days. In fact, 63% say the’re “always” worried about paying all their bills right now. Similarly, 58% are battling extra stress over their bills since the pandemic started.

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