How Will You Spend After Lockdown

Liverpool Street Station, London during lockdown 2020

If you are like me, you have been spending a lot less during the lockdown period. While we all have different circumstances, lifestyles and preferences, lockdown has reduced the opportunity for spending on things that, while enjoyable or fun in the moment, are neither essential nor necessary.

No trips to the coffee shop. No socialising. No leisurely walks around the shops and their tempting sales. Even gyms are closed, with membership fees frozen.  And as for large ticket purchases like houses, cars and furniture, forget it!

Living in lockdown is neither fun nor sustainable for many people, but what we can all learn from the experience is just how much money we fritter away each day. Spending that often causes us to accumulate or fail to repay expensive debt, or build an adequate emergency fund, or maximise the tax benefits from saving via a pension plan.

And even if your finances are healthy, it shows how much more you could be donating to causes that are important to you and that make a difference to others. Lockdown has shown me that by making some small daily adjustments to my future daily spending, I can increase my regular level of charitable giving, and so further support the causes that matter to me.  And that extra giving will make me happier.

Lockdown shows us all what is possible when we strip back some of the unnecessary, frivolous, impulsive and mindless spending from the pre-COVID days.  

As the coming months unfold, and we see lockdown restrictions gradually ease, the temptation and opportunity to spend our money on things that don’t serve us well will increase.  Rather than revert to your pre-lockdown level of non-essential spending, why not make a conscious decision now to become a more mindful spender?

Not only will you be able to make better progress with your money, you’ll probably also feel much better about yourself.

Warm regards,

Jason

PS My Smart Spending System can help you to structure your future spending more effectively.