Content Manager
July 20, 2020

How will your spending be affected after lockdown?

Will you embrace the new archetype that has come with a slower lifestyle or remain unchanged? 

Back in March, we wrote a blog on the Sauce illustrating how to sensibly prepare for Coronavirus. If you didn’t get around to reading it, we aren’t mad, just disappointed. 

Fast forward three months, and lockdown laws are now easing and restrictions adjusted, begging the question - how will our spending habits change?

I doubt it’s a question that’s crossed your mind, but since we’re in the business of money, our financially-wired brains naturally wander there. 

Following ‘Super Saturday’, the highly anticipated day the pubs reopened, the figures show while there was an exponential spike, spending is nowhere near normal levels according to Barclays. 

Will we go back to blowing an absurd amount of money on pints? Be a regular at expensive brunches? Go back to handing over 200 quid a month to TFL to get us to work? Or will this newly accumulated amount of savings and new lifestyle motivate us to deviate away from heavy spending? 

Image credit: This Is Money

With less opportunity to spend, a lot of you may have proportionately accumulated a bit more money in the bank than usual. The Institute for Fiscal Studies (IFS) dub this phenomenon “forced savings”.

Last month, we found that Chip users were autosaving an extra 9.65 a month, reinforcing the fact that people have more money available to be moving across to Chip, or people are turning up their autosave level.

Similarly, a Nationwide survey revealed today that 37% of people put more money aside than usual during lockdown.

So, now that the saving-sucker opportunities have resurfaced, we’re entering a period of critical self reflection where we have to ask ourselves: what expenses can I do without? 

Will you embrace the new archetype that has come with a slower lifestyle or remain unchanged? 

What can be reconsidered


In the wake of public transport bans, Peloton bike sales have jumped (or cycled a steep incline of) nearly 66%.

Question to ask yourself: Is it really essential to get the tube? Is your journey achievable by foot, bike, scooter or magic carpet? 

If you’ve liked the extra pocket money since going transport-free, read how Chip savers are using the money they’ve saved on their commute to the couch here


In line with gym closures, we've been made to adapt, with most of us building our own home gyms or opting for workout videos (no shame if it was Body Coach, Joe Wicks).  

Dining out (well, sort of...)

The hiatus from having someone wait on you with a bread basket to start has been difficult, I’ll be the first to admit it. But, it’s absence, we’ve gotten inventive. A DIY bottomless brunch; a pull-out-all-the-stops Mexican night; a lavish picnic or Takeaway Friday. 

While it’s been an absolute treat to get back into our favourite tipple and nibble haunts and support the hospitality industry, perhaps we’ve realised just how much money we were unnecessarily eating up and might favour some of the homemade alternatives we’ve come to know over the last few months. 

Bonus: In the latest Budget, Chancellor Rishi Sunak announced the “eat out to help out scheme”, offering customers a discount worth up to £10 per head when they eat out from Monday to Wednesday in August.


Don’t let that extravagant coffee maker gather dust behind the bread maker. 

Shopping online

Amazon and Argos have had an absolute ride and it’s time for it to end. Slide on some good footwear, go in store and support small businesses where you can - delivery costs are free there, too. 

What should you spend your money on


To get the tourism sector moving again, the UK has cut the VAT on the tourism sector to 5% until January. Plus, we all deserve a holiday this year. 

Local businesses 

Sainsburys have had their time in the sun, try a farmers market or independent grocer. 

If you’re looking for some easy ways to support local, we’ve written a blog on just that. 

Theatre & the music industry 

Hit worse than a one star review, the arts industry has suffered considerably. To take action, actively seek out ways you can support your favourite band/artist; head to their social media, their website; subscribe to their mailing list or check your go-to what’s-on source. 


Still have PTSD from the time you trusted your housemate/partner/relative with a pair of scissors to your hair? Are your eyebrows still looking like two different species as opposed to twin sisters?

According to Revolut, barbers and hairdressers saw a 23% jump in spending, compared with a normal Saturday before the coronavirus lockdown. Proving that there are just some things you need to recruit a professional for. 

Importance of having a safety net fund

In a rather dramatic life lesson, the uncertainty that came with a global pandemic has demonstrated to us just how important it is to have money put aside for a rainy (or viral-infected) day. 

Nationwide's survey leads us to believe that our new savings habits will stick with 37% of people saying they're likely to keep it coming in.

Our data reflects the increasing urgency for safety net funds, (more on that here) and while it might not be as motivating as a house deposit or stag do, it’s the grown up thing to do. 

Let us know how you’ve used Chip differently since COVID-19. 

Tweet us, chat with us on Instagram or slide into our Facebook inbox if you've got an anecdote to impart. If social media's not your thing, email me at

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