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Savings & Retirement

Cash-Strapped Americans Are Drawing Down Savings as Pandemic Divisions Widen

Survey shows one in four consumers pulled money from their savings in December, the most so far during the Covid age.

    
Photographer: Nina Westervelt/Bloomberg

The second round of stimulus checks can’t come fast enough for increasingly cash-strapped Americans.

One in four consumers pulled money from their savings in December, the most so far in the pandemic, according to a new survey from financial comparison website MagnifyMoney.