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Well, is it true so many of us have saved a little fortune during the pandemic?

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  • Registered Users Posts: 10,711 ✭✭✭✭Jim_Hodge


    If people are saying they didn't save anything but spent less on fuel, clothing, holidays etc then where did the money go?



  • Registered Users Posts: 554 ✭✭✭Kerry25x


    I saved loads in the very first couple months because I was actually doing nothing except ordering groceries and walking the dog in the evenings. After that we started ordering more takeaways to try support our favourite restaurants and treat ourselves. Then the DIY projects started around the house and that's where a lot of money went. Also did a campervan conversion which ate up a few bob. Probably have more to show for our money than we did before covid when we spent a lot on nights out but I don't think we've saved any more.



  • Registered Users Posts: 5,367 ✭✭✭JimmyVik


    Spent most of what id saved in foreign holidays on Irish holidays. Irish holidays easily twice as expensive as the foreign ones. And thats including flights.



  • Registered Users Posts: 555 ✭✭✭laoisgem


    Spent more than I could afford tbh. Bought a swing set, trampoline and put a lot of money into the garden for the youngest because that's as far as we could go (I even slept out on the trampoline for a night with her for amusement purposes) the things we do 😳



  • Registered Users Posts: 10,711 ✭✭✭✭Jim_Hodge




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  • Registered Users Posts: 10,711 ✭✭✭✭Jim_Hodge


    15.6% growth in GDP expected - twice the earlier estimate. There's money and pent up demand out there.




  • Registered Users Posts: 510 ✭✭✭noplacehere


    Saved a sweet fortune on creche for lockdown 1. Nearly lost my mind in the process but it paid for the boiler replacement and a chunk towards window replacements. We chose to put it back in the economy.

    Also saw saving in petrol and day to day costs like coffee on the way to work but this balanced a bit with probably having more ‘treat’ takeaway lunches while working from home



  • Registered Users Posts: 29,417 ✭✭✭✭Wanderer78


    yup, but only those that can afford to spend, will probably do so, and those that are currently struggling, will more than likely continue to do so, it ll be interesting to see if this will be sufficient to keep the economy going, but i think we re well into the era of discontent, so.....



  • Registered Users Posts: 10,711 ✭✭✭✭Jim_Hodge


    It was never said otherwise. The point is that there was never as much saved as a nation over such a short period and overall there is a large spending spree imminent. The economy as a whole will grow.



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  • Registered Users Posts: 8,411 ✭✭✭FintanMcluskey


    Costs are rising rapidly to meet it though Jim.

    Will money go as far?

    It's an interesting one though, more money in savings deposit than ever before.

    The biggest surprise for me is the staffing issue businesses are facing.

    Centre parcs have huge demand for accommodation, and are extendending the facility in the Midlands here.

    But they can only open the current facility at 75% due to staffing issues

    So the demand is irrelevant if the staff aren't there to meet it





  • Talk about a boiler replacement… just paid €2300 for one ☹️



  • Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 7,024 Mod ✭✭✭✭HildaOgdenx


    I read somewhere, but I can't remember offhand where I read it, that many foreign workers, especially in hospitality, returned home during lockdown. And also that they are now being attracted to countries other than Ireland. Better wages and conditions, maybe? I don't know.

    There certainly seems to be quite a few jobs advertised, I noticed signs in quite a lot of windows, in different parts of the country recently.



  • Registered Users Posts: 7,236 ✭✭✭mcmoustache


    We saved a heap and started the process of buying a house. Only problem was that others had also saved a heap and pushed up the price of houses. It feels like whatever we saved was wiped out by bidding. That being said, we have a house now and it's a good one in a good area so I'm not too bothered about the easily saved and easily spent money. 2020 and 2021 were strange years.



  • Posts: 5,311 ✭✭✭ [Deleted User]


    What is elusive to the privileged is that many people (myself included) took a significant pay cut through an enforced layoff from work via lockdown. And their pretend surprise is rather insulting, "why didn't you save this and that". These individuals haven't the slightest inclination of our everyday struggle for the best part of eighteen months, their opinion is null and void.



  • Registered Users Posts: 721 ✭✭✭PmMeUrDogs


    Saved a few thousand but my costs didn't decrease. I still went to work each day, no working from home. I just got lucky and got some promotions so my income increased and I saved a chunk of the difference.


    I could have saved more but family were left in a bad way financially due to work shutting down etc, so I helped out there. I don't know anyone who's saved more than 5k tbh



  • Registered Users Posts: 13,503 ✭✭✭✭fits


    I was out of work for four months at beginning of this year - which was fortunate as there was no way I could have managed work with children both home. Our savings are maybe a bit more but we spent a lot on our unfinished house and a couple of breaks in ireland. And we bought an ev.



  • Registered Users Posts: 10,711 ✭✭✭✭Jim_Hodge


    I don't think anybody said why didn't you save. The OP was about the billions that were actually put in to savings. This is fact. Some people did make significant additional savings as the simple result of not being able to spend their disposable income for a period. It's nothing to do with whether they were aware or not that others were struggling. Personally I think they were aware. It's not about exclusivity either as, apparently, the majority managed additional savings. It's just how it panned out.

    As the topic is about the additional savings, it seems a bit nonsensical to say the opinion or comments of those who made those savings are null and void.

    Post edited by Jim_Hodge on


  • Registered Users Posts: 25,409 ✭✭✭✭Strumms


    saved a few grand around 9 - 10 grand as of now that’s nicely topped up my savings, I’ll be buying a car maybe around March and hoping to go on holiday in May...I’ll probably be cautious enough as regards any major expenditures but I like the idea of that holiday in ‘22 around May, maybe even a cruise hopefully, I’ll want to get a car too around then so that’s another outgoing.



  • Moderators, Music Moderators Posts: 12,195 Mod ✭✭✭✭iamstop


    I would normally take a trip to Ireland and France each year so I saved the cost of that. Flights, accommodation, a festival ticket and fun money all saved. Also drank more cans and less pints so saved some that way too I reckon. I also bought less records than normal for that year but a lot of that was down to inheriting a large collection and going through that.

    So yeah, I've a few grand more than I would have had.



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  • Registered Users Posts: 4,549 ✭✭✭blue note


    My wife and I saved a decent bit during the recession. We didn't get to go on our honeymoon, so there was a few grand. We probably saved a few grand from not going skiing and for a summer break too. The there's all the travel and lunches bought out.


    To be honest, as regards routine entertainment (meals out, concerts, cinema and the like), I saw when we were applying for our mortgage that we don't do that very often at all. Our entire bank statement was pretty much supermarket expenditure.


    But still, between all of the above you'd be looking at €10-15 grand I reckon. We'll spend that on the house though. I remember rattling off the things I'd like to do to the house and €100k or so rolled off the tip of my tongue. That's without any extension or the like.


    But generally speaking, the people with good, well paying jobs were able to continue to work during the pandemic, generally without any loss of income, but with a drop in expenditure. Those who had to go on PUP are the ones who suffered and continue to suffer, along with a lot of self employed people and business owners. Taxi drivers, hospitality sector, etc - I don't know how many of them will survive this.



  • Posts: 0 [Deleted User]


    Yes I saved and paid a chunk off my mortgage. I was in the lucky position of being in full-time employment and working from home. This did enable me to save on transport costs, and then of course there was all I saved that would have been used for holidays, socialising and shopping. And it's still the case apart from a bit more socialising and shopping.

    I did spend more on food though. Got a lot of deliveries.

    Post edited by [Deleted User] on


  • Registered Users Posts: 10,711 ✭✭✭✭Jim_Hodge


    I didn't save anything like enough to clear a mortgage during the restrictions but I certainly saved a few thousand on a severely restricted social life. I don't know anybody who saved that kind if money. I'm not sure where your reply to me fits in though because I didn't claim to have saved that much.





  • The jeopardy of opening this thread was to encourage some “wealth-boasters”. I originally wanted to open a poll to be able to get a rough gauge simply of whether people saved or found themselves breaking even or down somewhat, but couldn’t seem to able to able to on the mobile site.



  • Posts: 2,725 [Deleted User]


    I’m not going to lie - the pandemic was good for me from a financial perspective. Saved a load of extra money by not eating out, taking foreign holidays, going to gigs, gambling on the horses and visiting pubs as much.

    Then an old bachelor farmer uncle of mine died of covid and left me his estate (we weren’t even that close tbh)!

    Bought a small holiday home out past Clifden with the windfall.



  • Registered Users Posts: 3,784 ✭✭✭Buddy Bubs


    On day to day stuff, saved money on the likes of going out for dinner and drinks and taxis etc...everything else stayed the same really. I spent the savings on those things on the house anyway. The big increase in car prices meant I hung on to my own, I'd say I would have changed in 2021 otherwise. Luckily I like it and no need to really change. I have my emergency fund sorted and pension on track, have a house so I'll tend to spend my money on something rather than save anyway.



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