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Pandemic focuses need for better budgeting and rainy-day savings

The Covid-19 pandemic has forced UK adults to be more aware of their financial situation, as nearly a quarter pledge to pay off debts.

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Toluna’s Understanding the 2021 Consumer: Global Barometer index, which recently surveyed 1,083 of its 30+ million members, found personal finances remain a top concern.

 

Just over a third of those questioned said they were less well-off now than they were prior to the pandemic, while 41% stated saving money for a rainy day or unexpected event was a priority.

 

Better budgeting was also cited by 34% of those surveyed as being more important following 15-months of the pandemic.

 

Lucia Juliano, head of FMCG research at Harris Interactive, said: “With repeated lockdowns, furlough and job losses, financial security continues to dominate our thoughts as we place increasing importance on being more financially aware and responsible and managing our money better, with more savings, that will help us through unexpected events that lie outside of our control.”

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