To be concerned or not about the economy?

[wtfpls]

Full disclosure I'm not a economist but I'm very confused about all the recent economic news. On one hand we are in a recession, on the other we are in a mini property boom. Some people have lost their livelihoods others say their livelihoods are complete secure. Will growth return to normal because this was caused by a pandemic as opposed to the banks (was at uni then)? will remote working change how people live? I'm worried about spending money but then read the Eat out scheme has been a success & my high street is busy so am I being over cautious. I'm reading about council deficits so worry about tax hikes. I'm not normally an anxious person but I feel like there is a lot of uncertainty.

As your OP mentioned some jobs will be safe but others won't be. Same with industries, some will do better and some will suffer.

I think we will all be paying more in the future in terms of taxes or restrictions on services because ultimately the money lost or borrowed by the government will have to be paid back.

For me my job is ok 'at the moment' so I am taking a cautious approach. I am spending but with an eye still on saving money where I can but then that is my usual approach as I save for tomorrow whilst still living a bit for today.

As for changes in working remotely I suspect there may be more but I wouldn't be looking to move a long way from my work just now like some people are doing. I think the high street will change but only because I think it was struggling anyway with online shopping getting better all the time.

I guess I don't know how cautious I should be and obviously by not buying anything I'm not helping.

I already work from home but DH is looking at 3-4 days a month from Oct & the company are making noises about smaller hubs dotted about as opposed to their expensive huge leased building.

I agree that the high street was already in trouble.

I guess I don't know how cautious I should be and obviously by not buying anything I'm not helping.

I would be as cautious as any time on spending.

If you have debts then I would be concentrating on paying them rather than spending.

If you are at risk of reduced hours or redundancy I would increase savings and stop spending.

If you don't have 6 months of savings then I would be increasing savings over spending.

Basically assume shit can happen to you at any time. If you have savings or insurance policies to tide you over if you lost your job or couldn't work due to illness then you can spend in the knowledge that you should be ok if something happens to affect you personally.

I think a lot of people have done very well out of lockdown.

Most people I know were WFH on full pay but they didnt have commuter costs, childcare costs and weren't spending money on socialising. So were saving ££££.

We had some new windows installed recently and the fitter said he'd never been so busy.

I would be interested to know what kind of profits Amazon and the major chain supermarkets have made in all this?

Admittedly we did save an awful lot over lockdown @THisbackwithavengeance & we recently had our garden done (was booked pre Covid). Likewise gardener said he had never been so busy. We managed to pay for it without touching our savings.

I'm pretty sure Amazon made a ton.

Good advice @

@PourMeADrink that's good advice. So if savings & debt levels are ok, then I should unclench a bit. I guess i'm just worried re the future as we are in our 30s & it felt like we just got to the point of having some good disposable income & I was hoping I could relax a bit this year!