Covid-19 has been a wake-up call for many of us – be it with regards to our health or our wealth. With regard to our personal finances, many of us have changed the way we look at money. A recent survey conducted by digital wealth manager, Scripbox found that a emergency fund It has emerged as the top financial target of all genders in the current environment. Whereas 34% of men chose healthcare as their next important financial goal.

More than 80% of the survey respondents say that Covid-19 is a wake-up call for them to put their personal finances in order and definitely correct for better financial health. One in three respondents say the biggest stressors during Covid-19 have been financial health and well-being ahead of physical health and relationships.

Both men and women have acknowledged the role of the pandemic in this, changing their behavior of saving and investing. “28% of female respondents say they are smarter investors today than before the pandemic, compared to 26% of male respondents,” said a press release issued by Scripbox.

This was an online survey conducted by Scripbox where they polled around 650 respondents with equal representation of women and men.

“Respondents to our survey confirm that they are paying more attention to saving and investing to create wealth, reduce discretionary spending and build an emergency fund, to be better prepared in the new normal. , traditional means of savings are still popular, glad to see the increased preference for strong Investment Trading on options like mutual funds. Atul Singhal, Founder and CEO, Scripbox, said, “It’s about being in control and the belief in being in charge, helps create a sense of betterment.”

Here are more findings from the survey.

• 51% have started saving more than before, while 36% of the respondents are investing more in wealth creation to improve their financial health.
• women are fulfilling their increased Savings An action supported by 29% of female respondents, with less discretionary spending.
• 20% say they have a financial plan in place to meet their personal goals, while 15% of respondents say they are seeking professional help with investment decisions.
• 53% of the survey respondents have kept their extra money in a savings account while 41% say they put it in fixed deposits or recurring deposits.
• 37% of respondents prefer mutual funds as their number one investment choice, followed by stocks (24%), gold (24%), cryptocurrency (14%) and asset buying (14%).