To think that after all this ppl will relax about keeping up with the Jones's?

[nowaitaminute]

Now I'm going to start off by acknowledging that I know a lot of ppl cannot save etc. But...on a whole do you think after all of this ppl might be more inclined to opt for smaller houses with smaller mortgages, stop getting newer cars with huge payments, stop buying the latest gadgets and subscribing to every subscription going. Try to reduce their expenditures dramatically and try to save some money specifically to tide them over in these kinds of situations. AND at the same time realize that the huge house, flash car and astronomical outgoings are a not necessary and practically worthless in times like these, that they only add to your worries? Just a thought...

No I don't think it will change anything if I'm honest. Boasty show offs will always be boasty show offs

I think the most likely thing to change is how people buy food. Back to the nineties, no more only having two days of food in the house. This might also mean more big fridges and freezers.

No, some people will always want more. Unless of course those who live on their “Estates” decide to take in the homeless, or share their £100,000 salary with the poor.

I don't think so, sadly.
However, I prefer keeping up with the Joneses to the current trend of spotting and shaming the Joneses on social media "because this is the second time she's been outside today, I don't care if she's only taking the bins out, she's LITERALLY KILLING PEOPLE. Stay the fuck home."

I don’t think many will change their mindset. So many don’t save anyway and expect the government just to pay.

I doubt most buy to keep up with anyone, they buy as they like to shop or want the latest gadget.

People may be nervous for a time. Personally I can't wait to get out and have some fun which involves spending some money. Ideally a holiday so I can have a change of scene! Also looking forward to my new car arriving that was due 1 April. Because I want to. For me. Not the Joneses.

Because I want to. For me. Not the Joneses

Yeah and this. A lot of people buy things just because they want them. I’ve bought a hot tub because I thought it might make the next couple of months a bit more fun for us all! Don’t care what anyone else thinks, I haven’t actually told anyone and I don’t think my neighbours are the type to give a shit 🤷🏻‍♀️

YY re chest freezers! Think those who have room for one in sheds, garages etc are going to become much more inclined to want them now after all this.

I also could see people still treating themselves to small inexpensive things, so weirdly stuff like nails and coffees might still be popular because they're a cheap pick me up. Someone who's really into beauty can probably still afford a tenner for a manicure on pay day even if bills all get more expensive, but not hair extensions. Iyswim.

Not a chance.

The people who used money they haven’t got to buy stuff they don’t need in order to impress people they don’t like will not change their basic values. They are obsessed with status, they crave the validation and approval of others, and that is manifested as obsessive consumerism and materialism.

They are idiots and they won’t change.

It should do, but it will only happen if the incoming recession kicks their arse. These types of people are not inclined to look beyond their desired lifestyle.

Caught an interview on BBC with a middle aged bloke who had nearly died from Corona but discharged from hospital and now recovering at home. He said that now the things he used to think were important - fancy holidays and cars were just trinkets, and it was family that was important.

I think it's nice to think that somehow we'll all come out of this with a different outlook and a different plan for how to live our lives but I really think that it'll be business as usual in a very short time (within the limits of any recession we might be in)

All the excesses that seem to go these days, the consumption, the showing off, the keeping up with the Jones'. It'll not take long, people have very short memories

There is no incentive to save. If you have 16K in the bank you will not get UC to help you through this. If you have spent that 16k on fun and things then you can get UC - and you can always sell your stuff.

Anyone who has saved it stuffed

Yeah, because UC is just so much dosh, you wouldn't know what to do with it all! You just get online and money is dished out in spades, no having to prove you're looking for ANY work for 35 hours/week or you're sanctioned, having to hand all your bank statements over and gone over with a fine-toothed comb, meetings and appointments - miss one and that's another sanction, told you will take this work and if you don't you are sanctioned. God, yes, it's just so easy and such a swish life! I mean, other taxpayers who can't afford to save a bean should definitely pay for other people to keep their Golden Calf .

I didn't say any of that. i was countering what the OP and others were saying about the lockdown encouraging people to save. There is no incentive. You don't get benefits ot help or care home fees paid or any protection from a fall or any help at all. SO why save? (At 1% or something). You won't incnetivise people to save like that.

(I am not - unlilke you - saying whether it is right or wrong but feel free to misunderstand)

I think that once people feel that they are ‘free’ that they will probably go over the top.
I’m just thinking of the privations and rationing after WW2 which was then followed by OTT fashionistas ( eg Dior, Chanel, Balmain etc...) in the fifties.
I know that this virus situation isn’t the same as WW2 but people’s privations may well follow the same pattern.
Personally, I’d love to see young people eschew massively overpriced and ostentatious weddings( save your money) and I’d love to see less vacuous spending ( eg not going to Primark every Saturday or having ruinous nail treatments) but I doubt it’ll happen.

I seem to move in very 'Keeping up with the Joneses' circles thinking about it - even separate friendship circles totally unrelated seem to do it. And people I hang out with the most these days definitely have a tendency amongst them, some more than others. It's a lot of expensive haircuts, Range Rovers, naice houses with constant aspirations of moving to even naicer ones etc.

I try not to engage but sometimes it's hard. DH is very sensible with money and doesn't give a fuck who has got what, and gets annoyed with me if I even observe that so and so has another different Range Rover (always bloody Range Rovers, even though they are notoriously shit!). We are comfortable though, have nice holidays, lovely house, but are not into flashy cars or designer clothes etc Some of the people I know who do it can absolutely afford it, they have good jobs and also 'trickle down'. But some of them I know can't, and alongside the talk of haircuts and house renovations also talk about how they have a terrible credit rating, are mortgaged up to their eyeballs and have 3 full credit cards etc but without even seeming to connect the two!

I do wonder if it will change after this. I follow a good few 'influencers' on Instagram and just the beauty regimes alone, extensions, nails, tanning, microblading must cost an absolute fortune.

I follow a hair salon in London who do lots of bright colours etc and the director is a semi celeb etc - their cut and colours can be around £400 and that's not even with the director! They are currently doing a thing where people can pay a deposit to book now and then get a priority spot when the salon opens again. I'm just wondering, when all this is over and we are in a recession, are normal people even going to be in a position where you can spunk 300/400 odd quid on a cut and a colour that will fade after a few washes anyway?!

Or it might all go back to how it was? I don't know. But it did feel like social media was spiralling out of control a bit anyway with all the hidden ads, all the materialism and the 'influencing', maybe this is what is needed to rein things in? But then spending is good for the economy isn't it, all that 'growth'?

I don't think anything much will change. People have short memories. Things will go back to where they were left off for many.

no having to prove you're looking for ANY work for 35 hours/week or you're sanctioned, having to hand all your bank statements over and gone over with a fine-toothed comb, meetings and appointments - miss one and that's another sanction, told you will take this work and if you don't you are sanctioned

To be fair, none of that applies to new claims currently being made.

Oh, do fuck off.

I'm so glad for you, OP, that you're so comfortable that you imagine everyone in society is a home owner. That must be very nice.

However, please realise that most of us are not 'keeping up with the Joneses' when we try to do very basic things like paying the rent or finding the money for childcare.

I'd love to know how you think we should save?

I did all the responsible things - living in shitholes, working hard, training to get a better job, etc etc. I have no interest in showing off with a house or a car. Many of us are in this situation.

@SarahAndQuack to be fair the OP never said that they themselves had saved or were comfortable/well off

I know I will.

I wanted to move to a bigger house. Honestly now, I’m just grateful for the lovely house we have in a great area with a small mortgage. In secure jobs which we didn’t appreciate before.

I’m really enjoying being at home, baking, reading books and going for walks. No pointless expensive trips out or buying stuff we don’t need.

I am quite excited for my first trip to B & M, but I think I will be quite restrained!

There is no incentive to save. If you have 16K in the bank you will not get UC to help you through this. If you have spent that 16k on fun and things then you can get UC - and you can always sell your stuff.

I disagree. UC isn't affected by savings lower than 6k. There'll be considerable variation at the extremes, but I'd expect that to be around 2 or 3 months costs for the average household. Events of the last couple of months will have made the idea of that buffer much more desirable to more people.

That is not to say that people might not look to conceal savings above that amount, whether in cash stored in the home or through purchasing other items. I've come across people who bought gold jewellery as a hidden asset. It does go on.

I think saving is a mindset. Some will need that safety blanket for times of need and therefore don’t mind working more, living in a smaller place, having no children or just one etc. Others don’t save as they want x, y and z and can’t afford to do both. Likewise many feel the state should step in and pay.

I can’t see much changing either, people may initially buy more food for a while but then will naturally drop back to their old habits.

Like another poster, I’d like to see the big weddings being a thing of the past but highly doubt it.

Last time we moved we only borrowed £100k out of a possible £550k offered .. we have got a big 4 bed detached house with everything we need so why stretch yourself ..? Don't people already realise the interest rates can go up and people lose their jobs etc ..? I'm amazed how people live to their absolute max anyway .

No! Lockdown has shown me just how competitive people are, frankly. They might not be able to boast about their things at the moment but they're sure boasting about how well they can self-isolate or homeschool their kids or whatever.