Was the Pandemic Really a Good Thing for Some (Financially Speaking)?

On a financial level, several good things came out of the pandemic for a number of people. Savings ballooned. Debts were paid down. To continue on that financially healthy path, follow these five simple steps.

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(Image credit: Getty Images)

It’s hard to think that there is a bright spot when you look at the death and destruction that the pandemic brought to so many. But if we step back, let’s see if there has been a silver lining for some.

We can’t forget the backdrop of the pandemic. We were petrified as we went into 2020, as people got sick and businesses started to shutter. We had no defenses from the disease or from losing our loved ones and livelihoods. Unemployment surged to levels not since the Depression. But help was on the way. The government poured trillions of dollars into the economy; people received real money via two rounds of stimulus payments; the government also paused mortgage and student debt payments for millions of people; the Fed kept liquidity flowing into our economy; inflation and interest rates were negligible.

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Neale Godfrey, Financial Literacy Expert
President & CEO, Children's Financial Network Inc.

Neale Godfrey is a New York Times #1 best-selling author of 27 books, which empower families (and their kids and grandkids) to take charge of their financial lives. Godfrey started her journey with The Chase Manhattan Bank, joining as one of the first female executives, and later became president of The First Women's Bank and founder of The First Children's Bank. Neale pioneered the topic of "kids and money," which took off after her 13 appearances on "The Oprah Winfrey Show." www.nealegodfrey.com