How To Financially Recover From Lockdown

Andy Webb on keeping your spending habits in check now that we are out of lockdown

- Andy Webb

I REALLY HOPE that by the time you read this the coronavirus vaccination programme will have enabled most lockdown restrictions to have eased. This would mean shops, bars, restaurants and other businesses open and eager to take our money. And no doubt, many of you will be keen to spend it too. But getting straight back into it isn’t necessarily the right thing for your finances. There are some pandemic money matters that need to be addressed before you hit the high street.

Knowing when to splurge

With newly regained freedoms, catching up with friends and family is going to top of the agenda for me, and I’m sure you too. But every meal out, every train journey, every hotel… it all adds up.

If you don’t want your savings to disappear, I’d recommend creating a post-lockdown spending plan to work out just what you can afford to splurge on.

Whether it’s a lump sum or a regular amount each month, knowing just how much you have available will stop your spending from getting out of hand.

Prioritise your spending