Are you itching to spend after lockdown or planning to save?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 30 April 2021

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you itching to spend or planning to save? Lockdown savers are forecast by the Office of Budget Responsibility to have stashed away £180billion by the middle of this year.

That collective cash pile has been built up by those who have been fortunate enough not to see their finances hit by the pandemic, but have seen their outgoings drop substantially.

We’ve already seen some big spending themes come out of this, as people splash out on everything from home improvements, to luxury garden furniture, expensive pizza ovens and hot tubs.

The expectation is that as lockdown eases and people are released into the hoped for freedom that vaccines bring, they will go on a spending spree.

But will that definitely happen and will the economic rebound be strong enough to create a virtuous circle that delivers the much-talked about Roaring Twenties?

Or will people be more cautious and adopt their newfound savings habit more permanently?

On this week’s podcast, Georgie Frost, Helen Crane and Simon Lambert, dig into the save vs spend debate and look at how the giant behavioural and psychological experiment that lockdown represents might play out for the economy and people’s personal finances.

Also on this week’s show, the team look at both investing in the big themes of the coming decades and buying a holiday let for profit.

And finally, if a fence comes down how do you find out who has to pay for it and is there any truth in the old ‘yours is the one on the left’ rule?

Transcript

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0:00.0	Welcome to This Is Money Podcast. I'm Georgie Frostand alongside me and editor Simon Lambert.
0:04.5	Today is Assistant Personal Finance Editor Helen Crane.
0:07.7	And coming up, apparently we're sitting on £150 billion worth of savings as a result of the pandemic.
0:13.9	But what are we going to do with it all? Invest, save or splurge.
0:18.4	If hot tubs, garden furniture and shops, were so last lockdown, darling,
0:22.8	what will we spend our money on next?
0:25.4	Doing up your house, you may be in for some long delays,
0:27.8	invest in holiday homes.
0:29.1	Stacations might be booming now, but will they last?
0:31.5	And if you fancy something more long-term,
0:34.0	Simon helps us to spot the investment future trends.
0:36.8	Don't forget, stay up to date.
0:37.9	With all the latest breaking money news, just go to this ismoney.com.uker or download the app.
0:43.0	But first, we are chomping at the bit. We are ready to go, get out there, and spend, if the
0:49.0	figures, after the latest easing of restrictions or anything to go by. Cues outside, shops,
0:54.0	pints in the rain,
0:55.3	and doesn't the nation's economy need it? Indeed, it is banking on us spending big. But how much
1:01.5	of this supposed 150 billion that we've reportedly saved, not all of us, obviously, by not
1:07.2	commuting, going to restaurants or on holidays, how much of that will we spend?
1:11.5	Will we really see a revival of the roaring 20s?
1:15.6	Helen, will we?
1:17.6	Spending habits have changed somewhat during the pandemic.
	...

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