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The pandemic has admittedly been tough on many people’s finances with furloughs and jobs losses, but despite hits to incomes, 42% of people say they’ve managed to save more since the first lockdowns started in early 2020.
For those who have saved more, the average saving they have made on their usual outgoings is £2,165, according to new findings from Barclaycard Payments. Much of the savings have come from not spending, or spending less, on holidays, day trips and transport costs.
Nearly three-quarters (71%) of shoppers now think more carefully about how they spend their money. And many people will continue to be more mindful about their spending in the future, the research found.
In fact, nine in 10 (92%) mindful spenders plan to stick with their more thoughtful shopping habits in the longer term.
Kirsty Morris, managing director at Barclaycard
Payments, says: “As lockdown restrictions begin to ease and it’s safe for people to start seeing families and friends again, people will of course begin spending money on things like holidays, meals out and travel again. However, our research has uncovered that in its wake, lockdown is likely to leave a legacy of more thoughtful shoppers.”
ECONOMISING:
These are the average amounts people estimate they’ve saved by not spending on certain outgoings over the past year, according to Barclaycard Payments:
Holidays ............................................................................ £647.80
Day trips/weekends away .................................................. £329
Transport costs (including public transport fares as well as petrol/diesel) .......................................... £229.10
Meals and drinks out with friends/loved ones ..... £224.50
Clothes and beauty products ...................................... £114.80
Trips to the hairdressers/barbers/spa ....................... £113.40
Takeaway breakfast/lunch
(from places such as sandwich shops) ......................... £96.50
Gym/exercise class membership ................................ £94.70
Impulse buys on the high street
(beauty products and snacks) ........................................... £93.70 ■ Coffee/tea while out and about ........................................... £66