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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

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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

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