Captain Tom, McDonald’s and DIY: The things we spent our money on in 2020

As we approach a year of pandemic restrictions, lockdowns, tiers and bubbles, Sophie Gallagher looks at how we’ve been spending our money

(Getty Images/iStockphoto)

The year of the coronavirus pandemic wasn’t just destructive in terms of public health - it also took a wrecking ball to the global economy. The UK entered a recession of historical magnitude and millions were put on furlough to avoid companies making mass redundancies.

For those who kept their jobs it wasn’t all plain sailing, with many enduring mandatory pay cuts despite working ever-longer hours. Others, who were able to, became rainy-day savers (in the first two months it was suggested one third of Britons had saved £500), presumably worried about their own job security.

In June, a YouGov poll gave some preliminary suggestions about how our bank balances were faring. It concluded that, on the whole (and in spite of the economic downturn), the pandemic was costing us less money than a normal year - with over half the nation spending less disposable income.