Money Management in 2020 and Beyond: This Year’s Top Posts
ByMolly Zilli
UpdatedJan 22, 2026
- In 2020 COVID caused a lot of changes and financial stress.
- Key topics include budgeting, building up an emergency fund, and knowing where your money is going every month.
- Despite various coronavirus, stimulus measures debt remained a top priority for many households.
Table of Contents
This year has been called a lot of names. “Dumpster fire,” “train wreck,” and “roller coaster” are a few of the tamer examples. And aside from the obvious stress we’ve endured thanks to Covid-19, many of us have also struggled financially, despite coronavirus stimulus packages and other efforts.
But if we’re lucky, with experience comes wisdom. And since it feels like we’ve squeezed seven years into one, maybe we’re moving forward even wiser than we realize. So, as we emerge from the emotional and financial bar brawl that has been 2020, let’s pick ourselves up, dust ourselves off, and march into 2021, bruised perhaps, yet determined.
To help you start off the New Year with the benefit of hindsight in money management, here is a round-up of the knowledge we gathered from our top 10 posts of 2020.
Money management 101
There’s nothing like a crisis to make you realize how well — or not — you’re managing your finances. This year has served as a sobering reminder of how important it is to make and keep a budget, build up an emergency fund, and know where your money is going every month. Here are some helpful money management posts from 2020:
Even if you’ve been less than disciplined up to this point, there’s no time like the present to make a fresh start and begin building new financial habits.
Coronavirus stimulus efforts
There are few people who can say they weren’t adversely affected by COVID-19 and the lockdown measures enacted in response. Businesses have stalled or closed completely, workers have lost their jobs, and of course some have lost loved ones. Consequently, legislators have tried to provide some assistance, which we covered for our readers this year:
Of course, while these governmental band-aids may help in the short term, they can’t replace sound money management and debt strategies by individuals and families. So, while it’s good to know what help is available to you, it’s best to pair that aid with long-term planning to improve your overall financial well-being.
Debt management strategies
Unfortunately, the financial strain of 2020 sent many people further into debt, despite various coronavirus stimulus measures. So, on top of the stress of a global pandemic and a chaotic election year, you may be wondering about your options for debt management or loan forbearance. Here are our top blogs with information on these programs.
While 2020 has seen an increase in debt for some families, it’s also provided us the opportunity to take a hard look at what our essential expenses are, what we can do without, and how important it is to get out of debt as quickly as possible while managing our finances better. So, even though we don’t know what 2021 will entail, we can at least march into it with more knowledge and resolve to get our financial houses in order (we might as well, since we’re still stuck at home for a while).
Looking for debt relief in Knoxville, TN or across the country? The first step is the most important one—learn more.
Stay informed and equipped with the tools you need
Whether you’re struggling to get by or simply need to get out of debt as soon as you can, having the right information and strategies can make all the difference. So, as you make new resolutions and work to improve your money management skills, come back and visit our blogs for free news and information throughout 2021. From updates on coronavirus stimulus laws, to proven strategies for controlling your debt, we can help you stay informed and make the right decisions for your financial future.
Learn More
A look into the world of debt relief seekers
We looked at a sample of data from Freedom Debt Relief of people seeking the best debt relief company for them during December 2025. This data highlights the wide range of individuals turning to debt relief.
Credit Card Usage by Age Group
No matter your age, navigating debt can be daunting. These insights into the credit profiles of debt relief seekers shed light on common financial struggles and paths to recovery.
Here's a snapshot of credit behaviors for December 2025 by age groups among debt relief seekers:
| Age group | Number of open credit cards | Average (total) Balance | Average monthly payment |
|---|---|---|---|
| 18-25 | 3 | $8,877 | $272 |
| 26-35 | 5 | $12,187 | $375 |
| 35-50 | 6 | $16,024 | $431 |
| 51-65 | 8 | $16,739 | $524 |
| Over 65 | 8 | $17,477 | $488 |
| All | 7 | $15,142 | $424 |
Whether you're starting your financial journey or planning for retirement, these insights can empower you to make informed decisions and work towards a more secure financial future
Student loan debt – average debt by selected states.
According to the 2023 Federal Reserve Survey of Consumer Finances (SCF) the average student debt for those with a balance was $46,980. The percentage of families with student debt was 22%. (Note: It used 2022 data).
Student loan debt among those seeking debt relief is prevalent. In December 2025, 27% of the debt relief seekers had student debt. The average student debt balance (for those with student debt) was $48,703.
Here is a quick look at the top five states by average student debt balance.
| State | Percent with student loans | Average Balance for those with student loans | Average monthly payment |
|---|---|---|---|
| District of Columbia | 34 | $71,987 | $203 |
| Georgia | 29 | $59,907 | $183 |
| Mississippi | 28 | $55,347 | $145 |
| Alaska | 22 | $54,555 | $104 |
| Maryland | 31 | $54,495 | $142 |
The statistics are based on all debt relief seekers with a student loan balance over $0.
Student debt is an important part of many households' financial picture. When you examine your finances, consider your total debt and your monthly payments.
Regain Financial Freedom
Seeking debt relief can be the first step toward financial freedom. Are you struggling with debt? Explore options for debt relief to regain control of your finances. It doesn't matter how old you are or what your FICO score or credit utilization is. Take the first step towards a brighter financial future today.
Show source
Author Information
Written by
Molly Zilli
Molly Zilli is an attorney and freelance researcher and writer based in California. With extensive experience working for trusted legal and HR companies, she has a passion for bringing important, accurate, and helpful content to professionals and consumers alike.
Personal Finance
