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Is saving sexy now?

June 15, 2020

Do you know how many cups of tea I drank this week? 39.

I can tell you that because I bought a box of 40 PG Tips last Friday and 7 days later, I’m down to 1. Yes, that’s what lockdown life is like now: simple, logical, measurable.

Don’t say boring.

It’s not boring.

Because boring is the new fun.

Without the daily chaos of daily life, it’s now officially possible to find pleasure in the small things.

This includes the way we think about money. Since lockdown many of us are a lot clearer on what we’re doing (or not doing) and where our money is going. If it’s not going somewhere, that’s noticeable too. And relatively interesting…

And it’s not just me. Even people under 29 are apparently finding satisfaction in being able to save their cash.

According to a survey by Barclays, those in the avocado-munching age bracket have saved on average is £604 against the national average of £545. Saving by these people has apparently risen by 10% – the highest increase in any age group.

They’re also finding that they’re more self controlled than they thought.

What do we do with this?

Of course we may all just return to our normal habits once we’re set free – it’s easy to be self-controlled when there’s no option for being wild. But 83% of millennials said that lockdown had changed their behaviour towards their finances, compared to a third of people aged over 60, so perhaps now is the time to build on this?

At least there’s now a reference point when speaking to younger people about the power of saving. Without sounding like an old fogey, you can hark back to those unprecedented times of Lockdown 2020, when drinking tea was an event in itself.

June 15, 2020

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