Lockdown making UK a nation of savers, says report

Lockdown has seen many homes become savers as they are spending less.

Amidst the pandemic pandemonium people have found a small fortune can be saved.

Some reckon they are £500 a month better off.

In a Money Mail survey by Consumer Intelligence, nearly four out of five families say they have more money.

And a quarter of those were saving between £200 – £500 a month.

The savings came from not doing things – holidays, commuting, coffees, sandwiches, entertaining, and eating out.

Consumer Intelligence says 16 per cent of people feel better off.

Nearly half were spending less and 38% were saving more.

Bank of England figures reveal the nation saved £16.2 billion in April.

A staggering £5 billion was paid off on credit card debt – more than double the previous record of £2.4 billion set only the month before.

In a usual month, Britons clear about £300 million off their cards.






About the Author

Philip Braund spent 16 years at the Daily Mirror as a reporter and news editor before moving to ITV. He was the series producer of the ground-breaking investigation programme The Cook Report, Managing Editor at ITV's Millbank Studios, and Head of News at ITV Central. He has won national and regional Royal Television Society awards for documentaries.

Back to Top ↑