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How are you going to spend the money saved during lockdown?

(145 Posts)
JenniferEccles Tue 09-Feb-21 11:02:39

It’s said we have saved an astonishing £150 billion during lockdown!
What will you spend yours on?
Some people will use it to pay off debt but it’s expected that a lot of people will go on a spending spree - holidays, clothes, meals out.

For me, I seem to have lost the inclination for clothes shopping.
Looking through my wardrobes spread among bedrooms, I have found things I had forgotten about plus some I have never worn.
Holidays and meals out with family and friends when permitted do appeal though.

Babs758 Wed 10-Feb-21 16:07:11

Like a previous poster, we have a timeshare and have not been able to use it for a years. Luckily we are allowed to roll the weeks forward as long as we pay the maintenance charges so are looking forward to a much longer holiday abroad when I eventually retire in a few years time. I have saved a lot of money not commuting and, luckily, have been able to work from home bar two short furlough periods. It has made me rethink my priorities.. I have given some of my savings to charity and have not bought any new clothes.

newnanny Wed 10-Feb-21 15:59:52

With no holiday at all last year, no weekend trips, no meals out since October, no activities for foster son and no travel to work for DH as he now has to wfh every day I have saved a lot over last year. I want holiday badly, want weekends away again, want meals out and want foster son to resume his activities.

HurdyGurdy Wed 10-Feb-21 15:57:04

Well darn it, as my ancient, but much loved car, failed the MOT today, and it is not cost effective to spend the money on it to bring it up to standard, it looks like I'm going to have to spend it on a new(er) car

Husband got a new electric car at the end of last year, so as we now have a charging point at home, I may look at getting an electric one. Cheaper to run than petrol cars, especially as we have "free" electricity from the solar panels.

But I'm sad to have to say goodbye to my old jalopy sad

Ellen56 Wed 10-Feb-21 15:43:59

Probably spending my saved petrol money on the gas bill these first months of the year. Never seem to have the heating off! Same as everyone else on house repairs and upgrades, spent so much time inside must never had noticed for years how shabby some areas have got.

PamSJ1 Wed 10-Feb-21 15:36:38

I have worked from home since last March. Saved on commuting but increased household costs. Also helped daughter and partner when she was furloughed and he was out of work. They were still living with me until September with my grandsons so added costs there with extra washing, dryer and hot water.

GillT57 Wed 10-Feb-21 15:21:43

It is interesting that very few intend to actually 'squirrel away' the money, it is all being spent on goods and services so going back into the economy. I understand that good tradesmen are very busy as people have rooms redecorated, gardens redesigned and sorted out, new kitchens fitted. This has to be a good thing surely?

Riverwalk Wed 10-Feb-21 15:11:17

I've certainly saved quite a bit as no hairdresser, theatre, eating out, and two cancelled overseas trips.

The savings will be spent on home improvements - having spent a lot of time at home I can see my place is looking quite tired and my bathroom definitely needs a complete re-do.

joysutty Wed 10-Feb-21 14:51:03

Plus our daily heating cost that's shown on our small smart meter going through the roof. Had to increase our monthly direct debit payments plus make a one-off payment top-up in January.

joysutty Wed 10-Feb-21 14:47:41

Saved a bit due to not having the various pubs pensioners deal meals out. But been very concerned about my brother who works in theatre doing UK + abroad Tours who also lives abroad with his finances. Have sent him over 2 x 25 pounds via on-line banking, but just wish could do more as he has 2 young children to bring up + was self-employed, whereas my children now have left home.

joysutty Wed 10-Feb-21 14:42:36

Myself also support local shops. But my daughter told me she has bought some Premium Bonds (on-line now apparently) and can cash them in anytime and get back same amount.

growstuff Wed 10-Feb-21 14:22:09

Scottydog I feel for you. I'm in the same boat and it's hard. I'm more or less reconciled to being happy with what I have and enjoying the moment.

Maybe Rishi Sunak is reading this thread and gets some ideas about he he could pay for all the people whose finances have been devastated by the pandemic.

Alioop Wed 10-Feb-21 14:18:44

I'm getting my gardens sorted. I have designed my back garden, that the sun is on all day, and hope the guys will be here the end of March to do it. So I'm going to buy rattan sofas, a firepit, etc so my friends can come round in the Spring/Summer when we are hopefully allowed people even in the garden again. I'll have my summer holidays in my back garden this year lol

Helenlouise3 Wed 10-Feb-21 14:16:23

We're getting ready for retirement, so anything we've saved will come in handy. I'm sure that we'll have a nice holiday once we're allowed as well.

Jillybird Wed 10-Feb-21 14:15:51

Message withdrawn at poster's request.

Sillyjilly2 Wed 10-Feb-21 14:01:04

Hopefully We will be spending all last years credits carried forward from last year. Return ferry to France, flights to Budapest, competition wins overnight stay in a pub with b, b and evening meal. Cinema tickets and a weeks holiday in Gozo

Theoddbird Wed 10-Feb-21 14:00:41

I haven't saved any. My outgoings are no less than before. Not sure where people have been saving all this money...

Scottydog6857 Wed 10-Feb-21 13:23:56

Savings, what savings? ? Both my husband and I had to retire early due to ill health and in 2012, after the money ran out, we had to declare ourselves bankrupt! We lost everything we worked over 35 years for!
These days, we exist on a quarter of our former income, and there's nothing left for extras once the bills are paid! As I was born in 1957, I don't get my state pension until I am 66, in August 2023! Both my husband I were in senior positions, with good salaries, our own beautiful house and our children wanted for nothing! Overnight - all gone! ?. These days, I find it impossible not to be bitter! My mental health has suffered seriously, and that's something you can't put a price on! ???

Galaxy Wed 10-Feb-21 13:13:28

Commuting costs an enormous amount so the figures dont surprise me. I was saving £50 per week on fuel alone during first lockdown.

Whatdayisit Wed 10-Feb-21 13:12:26

I am the same as Blossoming. I have spent a fortune on family and donated lots more to charities/zoos etc.
I have nothing saved. Quite down on earnings too from shorter hours etc.

NoddingGanGan Wed 10-Feb-21 13:09:55

Because we both work very close to home (when not locked down) and have little or nothing to spend on clothes or entertainment under normal circumstances, the 20% salary lost in furlough and the extra spent on heating and lighting has more than outstripped the saving in petrol (we always take packed lunches and both our employers supply free tea and coffee for workers) so the pandemic has cost us rather than saved us, sadly. Seen £1500 disappear from savings in the year gone past. sad

Tweedle24 Wed 10-Feb-21 13:04:42

I have taken up sewing again after a long break and turned a spare bedroom into a dedicated sewing room. I have spent money on a shelving/cupboard unit and also invested in an overlocker which I now wish I had bought years ago.Tomorrow an electrician is coming to put extra sockets in there for me.

I have spent money on fabrics and other necessities. I am now learning to sew bags so have spent money on fasteners, clips etc.

HillyN Wed 10-Feb-21 13:01:51

I envy those who saved money by not going on holiday. We normally have three timeshare weeks in the Lake District and the summer in our static caravan in France. We still have to pay the management fees and site fees without actually being able to take a holiday!

SueB14 Wed 10-Feb-21 13:00:05

Saved! You’re joking. Both my daughter and granddaughter became self employed 5 months before the first lockdown so never had figures for 2018/19 as they hadn’t been self employed for a year. So no help at all from the government. My ‘savings’ and much more have been going to help them with their day to day living. Things have been very tough for some people, not only them. They were both working hard to build up a business each and this has been disastrous for them. I’m glad I can help them but feel so sorry for anyone else who hasn’t had family to help them out in these very difficult times.

GillT57 Wed 10-Feb-21 12:51:37

We have saved quite a lot due to not going out for lunch with friends, going to the hairdresser, no new clothes or shoes bought, hardly any mileage on the car, no holidays ( we had lots planned as both DC finally in their own homes), no kennel fees for said holidays. The heating costs have not changed because we would have been at home anyway, but we probably spend a bit more on food at home, extra wine etc., just to make life more enjoyable. Would like to have a couple of rooms decorated, but can't bear the thought of doing it ourselves with the ensuing mess.

allsortsofbags Wed 10-Feb-21 12:42:56

We haven't saved much nor have we had to spend much extra so we have been very fortunate.

I'm hoping to get the bathroom refitted but can't face the upheaval in the cold weather. The sink is held together underneath with Araldite so I can't put it off for much longer

Other than that we'd like a special meal out with the family and couple of nights in the UK and meeting up with friends so nothing extravagant.

We have bought some things while in lockdown most have been replacements, a new kettle last week - not very exciting.

I've spent about £20 extra on seeds and bulbs to add more colour in the garden as I think we'll be spending most of the summer at home this year.

Having written this we seem very dull.