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Research from pensions and retirement specialist LV= highlights how in September 2021 20% (10.7m) UK adults said they expect their finances to worsen over the next three months - but the figures remain much better than the lowpoint of December 2020 when 26% (13.7m) expected their finances to worsen.
The LV= Wealth and Wellbeing Monitor* - a quarterly survey of 4,000+ UK adults, shows:
|LV= Wealth & Wellbeing Indices||Jun-20||Sep-20||Dec-20||Mar-21||Jun-21||Sep-21||Change QonQ|
|How finances have changed in last 3 months||-18||-18||-25||-9||-8||-11||-2|
|How finances might look 3 months from now||-6||-8||-14||-2||-1||-5||-5|
|Total monthly outgoings||-9||2||-16||-11||14||26||12|
|Income from work||-11||-10||-7||1||6||8||2|
|Amount saving into pensions||1||0||-4||2||3||4||1|
|Spend at the supermarket||27||21||13||18||16||26||10|
|Spend on socialising||-53||-37||-52||-47||-9||6||15|
“The Covid-19 pandemic has been incredibly difficult for the nation and had a huge impact on the lives, personal finances and mental health of millions of people.
“The success of the vaccine programme, fall in death rates and easing of lockdown restrictions lifted spirits over summer and consumers are more optimistic than in the dark days of lockdown.
“We are living through a period of reassessment and adjustment as life begins to return to normal. As the threat from Covid begins to recede, people say they are spending more on socialising. Rather than worrying overwhelmingly about Covid and the effects of lockdown, people’s concerns are switching to more non-pandemic issues such as rising prices and how inflation is eroding their savings.”
* LV= surveyed 4,000+ nationally representative UK adults via an online omnibus conducted by Opinium in June 2020, September 2020, December 2020, March 2021, June 2021 and September 2021.
UK population stats from ONS. Total UK adult population is 52.7m UK adults (aged 18+).