Well there’s almost nowhere to put savings to make a return so that kind of makes sense
We shut down in 2020 and had one of the strictest lockdowns in Europe (if not the strictest) plus a lot of sectors adapted really well to remote working. I kept my job and my outgoing expenses went way down. While we were in lockdown I made proper savings for the first time in my life
The Brits are living on the edge. Prior to the pandemic they were spending more than they earned.
I’m pulling this out of my arse but the big jump in household savings during lockdown could be linked to low homeownership and low rental rights. I know in Norway the spending stayed fairly stable during lockdown but was diverted from leisure to home-improvment. People did spend money online and did stuff around the house and garden, both owners and renters. Which home ownership in Ireland low among younger generations and renters right not allowing for upgrading your rental as a tenant, and most rentals are furnished, there is not a vacancy for spending which leads to household savings rising immensely in event of social lockdown.
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Data from OECD [https://data.oecd.org/hha/household-savings.htm](https://data.oecd.org/hha/household-savings.htm).
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Found it interesting the rise from 2019 to 2021.
Well there’s almost nowhere to put savings to make a return so that kind of makes sense
We shut down in 2020 and had one of the strictest lockdowns in Europe (if not the strictest) plus a lot of sectors adapted really well to remote working. I kept my job and my outgoing expenses went way down. While we were in lockdown I made proper savings for the first time in my life
The Brits are living on the edge. Prior to the pandemic they were spending more than they earned.
I’m pulling this out of my arse but the big jump in household savings during lockdown could be linked to low homeownership and low rental rights. I know in Norway the spending stayed fairly stable during lockdown but was diverted from leisure to home-improvment. People did spend money online and did stuff around the house and garden, both owners and renters. Which home ownership in Ireland low among younger generations and renters right not allowing for upgrading your rental as a tenant, and most rentals are furnished, there is not a vacancy for spending which leads to household savings rising immensely in event of social lockdown.