Is spending to help the economy not tank on your mind d?

[EinsteinaGogo]

Hi all,

We had people round for a bbq last night - really, really nice to see people properly again.

We got to talking about how we've been very lucky to work from home, saved on commuting costs, Prets lunches and coffees etc, and I talked about how I've been glad to stop spending on frivolous things and would try and continue to save where possible.

I was kind of a lone voice, as the general perspective was that (if you could afford to) you should be pumping your cash back into the economy right now. Use it or lose it.

Also started talking about pension schemes etc., and how we need to spend to ensure investments don't crash.

Do you have the economy on your mind too, and have a 'spend to support it' mindset?

I'm more scared about being laid off in future so want to build as much buffer as possible... am I in the minority?

I can not afford to support the economy, if I need it I.e food I will buy it but there is no spare money floating around to spare for the greater good.

We’ve saved over lockdown too - but like hell am I going to fritter it away. It’s been saved and will stay that way, as who knows what the next 12-24 months will look like.

Our income wasn’t effected but our holiday was cancelled so we’ve made a concious decision to spend the entire holiday budget here instead. Meals out, hiring bikes, day trips etc.

Spend if you can, it’s important.

We are among the spend to support mindset . I have been spending more and will continue to support local businesses. Both of us continued to work and have recession proof jobs .

No, I’m spending out of boredom. Although I have been focussing on local independent places where poss

No, I'm saving it.

We’ve saved a bit but I won’t be rushing out to spend it. I will need to buy some new (bigger) clothes and shoes for dc though.

We have bought a few takeaways from local restaurants to make lockdown more bearable, which has the bonus of supporting local firms.

We have spent significantly less over lockdown than normal. Out nursery was furloughed, so that was 600 quid extra, then we werent paying for petrol, we havent been out for dinners or date nights, and we basically just spent money on the food shop every week and a few DIY bits like paint.We have put quite a bit into our savings.

However, we are not about to buy a new wardrobe of clothes or put more money into the economy than we need to. I am going on maternity leave with our second DD in October, and it looks like DH's job may not survive the year due to CV. We are being very cautious, but we have always been pretty cautious with money and are not big spenders. I think if we had more secure incomes we wouldnt worry as much and spend more.

DHs income has reduced by 50%. This is hopefully fairly short term and we are able to manage as we are both normally high earners.I realise we are lucky, but it’s also made me realise how much we used to fritter away.
I’m a HCW and the NHS in the Covid era isn’t much fun, so it’s made me realise I really want to cut my hours, with a view to retiring in less than 10 years, so we will continue to be quite frugal.

I have been spending quite a lot tbh. I think it's a bit of mix of boredom / too much time on my hands and also the whole spend to support idea. Also, life feels quite short at the moment as well, so I do feel, if we have it, we may as well spend some of it. I'm not frittering away my life savings or anything, but I am spending.

I’ve spent loads. Partly boredom, partly because being in the house and garden so much has made me realise the parts about it I hate so I’ve spent money on rectifying it, and partly to help local businesses. I do think it’s important to spend if you can to keep local businesses afloat. Not so much Amazon.

This has been on my mind. We were fortunate in that we have saved and our savings are on the road to recovery after a battering last year.

However job is probably only 60/40 safe so I am very wary about spending. We need some work done to the house but are holding off until next year now.

I do feel we should consider spending a bit more over the next few months - like someone up thread we've only really spent on food and a bit of amazon and I'd like to support some local businesses.

No, I'm not spending to support the economy.

I'm spending when I need to and then choosing to do so mainly at local independent shops. But lockdown had made me realise I'm much happier with less. Less overall- fewer pulls on my time, less stuff, fewer things, fewer morning coffees, fewer trips out, freezer brunch dates. My mental health has been much improved by not feeling the need to be somewhere, do something.

"Use it or lose it" I'm happy to lose something's. I appreciate that means some will lose their jobs but I don't think we should feel forced to spend money on things we don't need or really want to keep the economy going. It's not a sustainable economic model long term.

We've saved quite a bit during the last few months, but I've got no inclination to go out spending as pp said we have no idea how the next 12-24 months will pan out.

If the rich and invested are concerned about the stock market and their businesses failing they can do the spending as far as I’m concerned. I’m not in a position to prop up multinationals with frivolous spending, despite the (very small and insignificant) savings we’ve made during lockdown.

When my favourite café opens next week for takeaway, I'll get a weekly coffee. We got an Indian takeaway a couple of weeks ago for the first time since March. I definitely want to support places we use locally but I'm less fussed about propping up businesses like ASOS, or anything owned by Mike Ashley.

I'm living off my redundancy payment for now as jobs are nonexistent but I can afford to spend a little.

I'm going to carry on buying what I need, but I'm going to spend it - as much as possible - in the businesses that I want to keep in business. For me, that means small local businesses, the shops I really like and would miss if they weren't there, and a few favourite places like my local theatre and bookshop and garden centre.

I'm spending locally - birthday presents, cups of tea etc. Not loads but trying to support the local economy after a difficult time.

We have been consciously spending in the local economy during lockdown. A family run supermarket, a number of small grocery businesses (fishmonger, butcher, artisan bakery, couple of delis etc). Local GC when they reopened. Local sports store.

We had generally shopped in all beforehand, but were particularly conscious of shopping there rather than elsewhere during shutdown.

We have bought some things off Amazon as not much choice, but I have also bought online from smaller shops in this country like a couple of sewing shops etc.

In my paid job, I am very aware of SMEs and the importance of the local economy. So it makes sense to me.

I understand where they’re coming from but I’m saving in case I lose my job in the post coronavirus world. I’ve been working 12 hour days and I have been doing more online shopping than usual in my downtime.

I'm more mindful of trying to spend my money at local businesses rather than big chains. With the exception of h&m .

We are spending locally, specifically cafes and pubs. Also investing in art and local craftspeople like jewellers, blacksmiths and furniture makers, who are close to bankruptcy and I really want them to stay.

Nope, my spending habits will remain the same as they have during all of this.

Coupe of takeaways a month, and still from independent places as I've been doing throughout lockdown and before. Same with shopping in my local independent places.

And I will continue buying stuff when needed. Big stuff I will save up for as usual.

I find my life much simpler when I live within my means and have no care about the latest whatever and keeping up with other people.

If companies want my cash then it's down to them to try and convince me. Propping them up isn't a consideration tbh.

And my pension years, I've been planning and putting things into action since my early 20's. I'm now in my 40's. A couple of tweaks will be needed but nothing major and mainly just involve a few planned things happening sooner.

Both. I’m buying stuff from local shops but I’m not going to stop prioritising saving.