New Year financially better or worse off than last NY

[munmun]

I have been reading a lot in the financial press about the increased savings levels in the UK.

I know that this is not what has happened for all people and I also know that savings dont equal happiness and everyone would have preferred their holidays.

For us our savings have definately increased. Even though we have done work on our house and have another small project starting in the new year.

So for you financially better or worse off?

[gjdjud]

Definitely worse. Self employed and not allowed to work. So far around 5 and half months off work since march and only going to get worse. Savings are taking a massive hit.

[buryboy]

I suspect most people on here are financially better off . As a whole we have much higher earnings than the population .
And haven’t had the opportunity to spend our earnings .

Of course those who have lost jobs or are self employed won’t be in that situation and not necessarily those who have been furloughed , but I would suspect 90% plus of people on here have more money in the bank today than last year

As a nation as a whole of course the picture will be different - the variance between the haves and the have nots will have grown

[scottishnellie]

We are better off financially. Haven’t been able to spend the 10-18K a year we usually spend on holidays (but did buy a hot tub) and have both been very fortunate to continue in our jobs working from home so no loss of earnings.

I have lots of friends who’ve not been so lucky though. I feel terrible for folk who’ve lost their jobs or earnings. Been so devastating for so many.

[catherinesian]

More. We have had no impact on our earnings due to covid (I actually got a promotion in April) had two fully paid holidays cancelled so our level of savings have increased. We are very lucky to both work for companies that have seen increased demand due to the pandemic.

[Mr Tom Morrow]

Better off in 2021. Roll on February - Old Age Pension arrives.

[Cabbie]

Definitely better, my salary has increased and I've not been allowed out

-Steve

[maidmarian]

Worse as I lost my job 😩

[Fluffypenguin]

I did lose my job and was unemployed for around three months, but I would say we are actually slightly better off as we haven’t spent the 6k we were potentially going to spend on holidays.

We now have a wedding to pay for in 2022, so at least the money we would have spent on holidays will now go towards that.

[Lisa-72]

Definitely worse off, redundancy after a week in a new job then 6 months out of work.
Literally wiped out my savings so probably no holidays now for the foreseeable.