Spent less, saved more: How we used our money this year

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Consumer spending fell 7.1%, says Barclaycard, which tracks half of all credit and debit card spending.

People spent less and saved more in 2020 as the pandemic led to shops, pubs and attractions being closed down.

Meanwhile Brits working from home saved an average £110 a week, according to a separate survey from Aldermore Bank."E-commerce has seen huge growth, working from home has meant many are shopping more locally and experiences within the home, such as virtual work-outs have become the norm."Online grocery shopping surged 70.3% over the year and looks set to have become the norm for many.

Joh Rindom, who runs That Thing, an independent fashion, homeware and accessories shop, said perhaps because people have spent more time at home, perhaps because they've focused on what is important to them, this year there has been a "fashion for independents", she thinks. "The saving habits adopted due to the Covid-19 pandemic are likely to continue beyond this period and turn into better long-term spending routines," said Ewan Edwards, director of savings at Aldermore.

Source: Loan Digest (loandigest.net)

 

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Try paying with cash in most places and they don't want it because its dirty. But apparently that uncleaned card reader is fine.

I don’t know a single person who managed to save. They either got out on furlough, lost their job, or had extra bills to pay from being home more...

Stopped paying my TV licence😎

Diddums barclaycard have less to slap interest on.

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