Savings & Retirement
Shoppers Are Fighting the Temptation to Go on a Post-Pandemic Splurge
People who amassed extra savings during Covid-related lockdowns will need much more than just willpower to resist the urge to spend.
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It’s always been easier to spend than save money. Until the pandemic flipped that idea on its head, at least for some people.
Shorn of opportunities to spend on everything from holidays to commuting, higher-income earners who kept their jobs suddenly had spare cash. In all, consumers in the world’s largest economies amassed $2.9 trillion in extra savings during Covid-related lockdowns, according to estimates by Bloomberg Economics.