May 4, 2021 | by: jeffromard

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.