One Year Later: How Are You Thinking About Your Post-Pandemic Money Moves?

[Edward]

It was about a year ago that we first asked how Covid-19 was impacting your financial life.

One year later and we’ve all been through A LOT. I’m especially thinking of the millions of people who lost loved ones to Covid-19.

This pandemic has tested our economy, politics, and family lives. Millions of households experienced untold stress and catastrophic income loss.

But finally, we can see light at the end of the pandemic tunnel. People are looking forward to rebuilding their finances as the economy reopens.

Indeed, millions of people will actually reenter society with increased savings and somewhat lower debt. That’s mostly because people stayed home, didn’t travel, and took a cautious approach to spending and saving.

But those pragmatic days may soon end. With all this cash on hand, a strong stock market, low-interest rates, government stimulus, and tremendous pent-up demand to travel, dine out, and shop, there’s lots of talk of a new roaring ’20s (or at least a few roaring ’20s).

How are you thinking about your finances as the pandemic winds down?

Without getting too personal or asking specifics, we were wondering how the Tiller Money Community is planning for post-pandemic financial life. What did you learn over the past year? Are you going to stick to your pandemic budget, are you going to fortify your savings, or do you plan to splurge on spending?

Share your thoughts with the quick poll below. There’s nothing scientific about this poll - it’s simply for the Tiller Money Community to discuss and consider.

And here’s to brighter days ahead!

At the beginning of the shut-down, did you create an intentional budget or other financial plans to carry you through the pandemic?

• Yes
• No

Do you feel your finances are stronger, weaker, or about the same vs 12 months ago?

• Weaker
• About the same
• Stronger

Based on what you were thinking a year ago, was the impact of Covid-19 on your finances:

• Less than expected
• About as expected
• Bigger than expected

Do you anticipate changes to your non-essential spending over the next 12 months vs previous 12 months?

• I’ll be spending less
• I’ll be spending about the same
• I’ll be spending a little more
• I’ll be spending a lot more

As the pandemic winds down, what are you most looking forward to spending on?

• Travel
• Dining Out
• Shopping
• None of the above

Are there any financial habits you developed over the past year that you hope to maintain going forward? Explain in the comments if possible!

• Yes
• No

[susandennis]

One financial (and storage) habit I’ve always hated having was random food shopping. I ended up with a fridge/freezer and pantry of food that looked great at the store but not when I got home.

The pandemic taught me to dig into that old food and eat it up. At first you could not get a delivery time and I was too chicken to go into a store. Then stores got better and I got braver but still for most of the past year, I got new food once a month. I’m eating fine, have storage room and, am on track for saving 50% in grocery money. I’m sure hoping to keep that up!