BACK

Credit Scores and Reports

Infographic: Financial crisis inspired better money habits

Summary

The financial crisis that started in 2007 may have forced many investors to learn things the hard way, according to research from Fidelity Investments

The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we may receive compensation when you click on links to products from our partners. Learn more about our advertising policy.

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Please see the bank’s website for the most current version of card offers; and please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

The financial crisis that started in 2007 may have forced many investors to learn things the hard way, according to research from Fidelity Investments. According to an April 2013 study called “Five Years Later,” the losses and hardship investors faced during the recession has inspired them to make positive behavior changes when it comes to money.

In 2008, 64 percent of investors described themselves as “scared and confused.” However, more than half of them (56 percent) describe themselves as “prepared and confident” today.

The reasons for this change in outlook? Nearly three-quarters (72 percent) repaid debt, 42 percent increased their emergency savings and 88 percent understand their finances better than they did before the downturn.

Lessons learned from the recession

See related:Fed study: Recession really changed our spending habits

To use the graphic on your site, use the following code:

 <center><a href=”http://www.creditcards.com/credit-card-news/infographic-financial-crisis-inspired-better-money-habits-1701.php”><img alt=”CreditCards.com infographic: From confused to confident” border=”0″ src=”http://www.creditcards.com/credit-card-news/images/credit-card-news/images/infographic-confused-to-confident.jpg” /></a> </center>

What’s up next?

In Credit Scores and Reports

6 crucial credit questions you should know answers to

Not keeping current on the state of your finances can have dire consequences. Here are six money questions everyone should know the answers to.

Published: April 24, 2013

See more stories
Credit Card Rate Report Updated: May 23rd, 2019
Business
15.61%
Airline
17.50%
Cash Back
17.60%
Reward
17.62%
Student
17.79%

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.