Has lockdown left you with more money to save or struggling?

Jun 26, 2020, 03:56 PM

In an unpredicted turn of events, the coronavirus lockdown has been good for some when it comes to their bank balances.

People collectively tucked away £30billion in savings accounts in March and April, around three times as much as the two months previous - with this credited  to surplus cash and moving money to safety.

A large slab of that went into easy-access accounts despite plunging rates. Meanwhile, we cleared a record amount of personal debt, according to Bank of England figures.

The ONS says households are spending £183 less a week, but while some might be lucky to salt that away, many wouldn't come anywhere near it.

Lockdown saving is not a universal picture. Many are facing up to lost income or losing their jobs entirely. In this podcast, editor Simon Lambert, assistant editor Lee Boyce and host Georgie Frost take a look at the figures.

Much of the money stashed away at big banks pays 0.1 per cent or less, meaning collectively, billions of lost interest – where are rates heading?

National Savings and Investments currently has a few best buy accounts, how long can it prop up the market and are we turning our backs on stocks and shares Isas?
Meanwhile, the IMF says the crisis will wipe £10trillion off the global economy: what's happened to the V-shaped recovery?

With pubs and shops slowly reopening, will Britons head back and spend their cash to help the economy?

Simon talks about investing like Warren Buffett and what opportunities are out the post-lockdown world.

With the heatwave that has smothered Britain this week, we take a look at how much it costs to run items that are designed to cool us down, and those trendy garden gadgets.