How The Past Year Affected peoples Financial Behaviours
The past year has been tough for a lot of people financially, and it’s forced many people to make some changes regarding how they spend their dollars.
A new YouGov poll finds:
- 38% started saving more money each month over the past year.
- They did so by cutting back on certain things.
- 32% say they stopped buying anything non-essential during the pandemic.
- 21% cancelled subscriptions they normally pay for.
- 21% attempted to save money on bills by not turning on the lights or electric unless absolutely necessary.
- 17% reduced the amount of showers they take.
- 15% have eaten less food.
- 11% have not turned on the heat.
But regardless of last year’s challenges, there are some things folks were not willing to cut back on.
- For example, some people were still treating themselves, with 29% saying they bought themselves something they’ve been wanting for a while.
- 25% increased their debt repayments.
- And some helped others.
- 20% gave more to charity over the past year.
- 14% say they lent money to family and friends.