According to the Aviva report, during and after the forced quarantine restrictions due to Covid-19 pandemic, two-thirds of respondents (64%) began to save their own financial resources. However, the remaining 36% admitted that they started to buy more.
According to the survey, people over 45 years of age are more likely to maintain their new saving habits (41%) than younger respondents (31%).
The authors of the report cite the Bank of England data, according to which, household savings have increased by 76 billion pounds from March to July 2020. Over the same period, the debt on credit cards has decreased significantly, as a result of which the volume of borrowings has fallen to the level of 2015. However, this situation changed right after the quarantine had been lifted: in July alone, the volume of consumer loans grew by 1.2 billion pounds.
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