What's the most important financial lesson you've learned so far from lockdown?

The headlines remind us that we’re all impacted, but in truth the Covid 19 lockdown is affecting us all in lots of different ways, so the lessons we learn will all be very different.

What would you say is the most important thing you have learned from this experience that will change the way you live ‘PC’ (Post Covid) - if anything?

I don’t just mean personally, though I imagine many of us will have discovered how resilient we are in a crisis, but also how we spend our money (on local business, supporting family or charities, and on those things we’ve discovered are ‘essentials’ in life) but maybe also what we think local and national spending priorities might be.

Will we be willing to take fewer risks with our health, and our money - and be even more grateful for medical and teaching staff?

Or might we see a new ‘Roaring 20s’ where we react against this austerity, and decide to throw caution to the wind and get back to having as much fun as possible?

What do you think?

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I’m going to spend more in local shops, and I don’t mind drinking instant coffee now. :coffee:


Noooo! Get an aeropress and order delivery from a local roaster

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I for one will be taking life a little bit slower. I’ve never appreciated what I already have as much as I do now. Mostly likely because I’m around my own belongings a lot more, and doing what I truly enjoy and is good for me not just once but on a daily basis. Of course, I’ll jump at the opportunity to go see live music again or meet a friend for coffee. But much like @ColinR and @Gaoler said, I don’t mind finding a local or self-sustaining alternative in the meantime.

Has anyone else felt like this time has allowed them to pause and realise they were putting some important tasks on the back bench?


Lockdown really made show small the virus made us no travel and access to money the old fashioned way of passbook like has been for the best part of 100 years or more still limits access in a world where we have online banking and video calls and a host of electronic verification to prove you are you some building societies still use dark ages access where you must visit physically

It must be incredibly hard for a customer or a business that has not developed digital flows to keep going. Small financial institutions that have not made the digital transition and rely on face to face will certainly be badly affected, and their customers will be disadvantaged.

It is a similar story for retailers who have either not made, or were about to make this transition. I remember seeing some terrible stats for Primark as a brand because of this, and M&S groceries have been badly impacted (at least in terms of opportunity cost) by not yet having made the switch to being Ocado’s supplier.

I think there is definitely a lesson here for us all, to be prepared with a range of services and channels to cope with dramatic change.

There’s positive argument to having all your eggs in one basket but then there’s negatives like I had rbs accounts a few years ago when the who system they had crashed beyond anyone’s control no one could tell me what I had or what I was getting and had to issue money without logging on a computer cause I was desperate to access it now I have to not be linked to one like that in future to avoid the problems all in one place actually gives.

No one told the building societies to automate their accounts online ahead of the pandemic making access to them zero as you use a passbook to access them and to ask me to post the passbook is a risky procedure when I’m supposed to be staying at home all the time and would I trust the postman to deliver my passbook or a cheque in return unfortunately no