Savings made by most homes

Three-quarters of UK households have saved money during the lockdown, according to new figures.

Households have saved an average of £300 on day-to-day expenses as they stop going to restaurants and the cinema, with savings also boosted by people working from home and not buying much petrol.

Not paying gym memberships and TV sports packages have saved one-fifth of households money.

But many households are still struggling, with 19% of those surveyed by comparethemarket.com saying they worry about making ends meet.

Comparethemarket. com product director Anna McEntee said: “The savings households have managed to make during lockdown may offer some temporary respite.

“When lockdown lifts, the cost of living

“People are still very worried about the long term hit”

will go back to previous levels, rainy day funds have been raided and borrowing will need to be repaid.

“People are still very worried about the long term hit their finances will take, and this anxiety is especially pronounced among those with children at home and extra people to care for.”

Comparethemarket. com found 23% of families with children living at home had struggled to pay bills during the past seven days, down from 29% a week earlier. A quarter of households with children said they had to dip into savings, 10% had taken on loans and 11% had borrowed from friends and family.

More than half (54%) of those surveyed said they did not feel confident about going back into restaurants, cafes, pubs and cinemas.