COVID-19 financial lessons

Finance expert Vera Gibbons, founder of, reveals the lessons we should be taking to the bank following the pandemic. ABC News’ Will Ganss reports.
2:06 | 07/10/20

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Transcript for COVID-19 financial lessons
We've learned a lot about ourselves these past few months and according to Willis personal finance analyst Gary Gibbons. We've also learned some mega important money lessons to take with us ended a future number one establish an emergency fund. One great. Consider eating it up it is fine because we're in a very tense situation and it's nice little dinner will go on the senate side. Until well rumor. Most American ends in a do or fun. Really really out her daughter and it could emergency fund has about 612. Months living and it. Next coded money lesson and brace yourself update your will even if you're healthy and I have a lot of people. Jumping into higher year. They are getting around Austin independent creature in doing interstate running or doing it left or less than three separate essential and nonessential purchases do you presents would be hey you're you're ready room. A group of your house. You're utilities. And why did you Iraq and nature and not rentals Whitney things like we did I can't studies let her on her AE is separate the essential. And the nonessential and I what you. In the year now and what can actually wait in an act and at the other end of the age spectrum. Covance taught Americans the importance of investing for retirement a lot of people call when it comes to retirement or not rethinking retirement and or early retirement I can see that one of the primary lessons learned from an in nineteen. In Italian are planning. One other thing to keep in mind here says that kids are learning about personal finances right now in a way that they might not happen before they're seeing mom and dad talk about the budget cook dinner instead of eat out. And they're learning by example how to plan ahead financially which. Is a pretty good thing. I'm hearing mom and dad save frustrated and that's why they start Spain's fifth all think oh yes some good information there.

This transcript has been automatically generated and may not be 100% accurate.

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