Content Manager

Comparing Chip pre-Coronavirus to now

The harsh truth of our new normal is all the big plans we had in-store for 2020 are now going to have to wait until next year.

While we are eternally grateful for our health and safety amidst a pandemic, it is completely normal to grieve over the cancelled holidays, weddings, festivals and all the celebrations in between.

With the majority of you guys using Chip to save for these big ticket purchases, most of us now find ourselves re-evaluating what we want to do with these would-be funds.

Many savers have reached out to share how Chip has acted as their financial buffer, or safety net, after being faced with unexpected expenses - like computers for their children, or unemployment.

So, we wanted to show you an updated list of the top 10 goals made in the Chip app and compared the average autosave amount pre-lockdown to now to reveal how Coronavirus has truly influenced our spending priorities.

Increasingly there has been a shift in savers using Chip to cover the more mundane expenses, stressing the importance of having backup funds for instances like this.

We've also seen the average monthly auto-save amount increase by £9.65, which reflects that people have more money available to be moving across to Chip, or people are turning up their autosave level.

There will come a time when we will be allowed to travel again.

There will come a time where the weddings will go on.

There will come a time where the music will play, and we can go for long lunches and bar hopping.

Save for those days.

If you'd like to share how you're using Chip now, get in touch

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Remember your Capital is at Risk and past performance is not a reliable guide to future returns. The value of your investment can go down as well as up and you might get back less than you originally invested.

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