9.5m say their incomes have increased in the last three months

  • Fewer people are worrying about money, losing their job or contracting Covid-19
  • People are spending more and saving less as lockdown eases
  • 12.5m** people are worried about rising inflation
  • Holidays, socialising and days out with family are priorities for people after lockdown

Research from pensions and retirement specialist LV= highlights how the finances and emotional wellbeing of UK consumers continues to improve as we approach the end of Covid restrictions.

The latest LV= Wealth and Wellbeing Monitor* reveals that in June 2021- 18% (9.5m) UK adults said their incomes had increased over the past three months - the highest figures since the quarterly survey started in June 2020.

As lockdown restrictions ease, UK consumers say their outgoings are increasing, and they are saving less. The proportion of people whose socialising spend increased has risen markedly.

This quarter’s research shows that fewer people (than last quarter) are worried about the future, about losing their job, or about finding work if they lost their job. The mental health of the nation is also beginning to improve with fewer people saying they feel lonely or isolated. However, 12.5m (24%) are now worried about rising prices of everyday items such as food, clothing and utilities.

The LV= Wealth and Wellbeing Monitor - a quarterly survey of 4,000+ UK adults – reveals that in June 2021:

  • Fewer people are worried about losing their job. In June 2021, 6% (3.1m) of UK adults worried about losing their job, compared to 8% (4.3m) surveyed in March 2021
  • Fears about contracting Covid-19 are subsiding. 17% (8.8m)  worried about contracting Covid-19, compared to 23% (12.1m) in March
  • Worries about money are beginning to ease. 27% (14.1m) worried about money, compared to 30% (15.8m) surveyed in March
  • Mental health issues are beginning to improve. 24% (12.7m) felt lonely and isolated, compared to 31% (16.2m) in March
  • More people say they are booking holidays. The number of people who say they have booked a holiday in the last 3 months has risen to 16% (8.2m), compared to 8% (4.5m) in March

Financial priorities after lockdown

People are thinking ahead of their priorities after lockdown restrictions lift. The research reveals:

  • 36% (19.1m) adults are planning to go on holiday in the next 12 months
  • 28% (14.6m) plan to do more socialising
  • 25% (12.9m) are planning special days out with family to make up for lost time
  • 23% (11.9m) are planning to make home improvements
  • 21% (11m) plan to be more environmentally conscious
  • 20% of people aged over 65 plan to give money to children/and grandchildren 

Clive Bolton, Managing Director of Savings and Retirement at LV=, said:

“The Covid-19 pandemic has been incredibly difficult for the nation and had a huge impact on the lives, personal finances and mental health of millions of people. 

“However, the success of the vaccine programme, the fall in death rates and the gradual easing of lockdown restrictions is lifting spirits. The economy is proving more resilient than many expected and those who predicted a swift recovery look like they might be proved right. 

“Confidence is returning as a growing number of people say their income has increased over the past three months and, as lockdown eases, they are saving less and spending more on socialising. This is good news as it indicates that the UK could experience a stronger recovery when lockdown restrictions are eased and life begins to return to normal.” 

The LV= Wealth and Wellbeing Indices:

LV= uses indices to track overall changes to spending, saving and finances. The below indices are calculated by: subtracting the % who stated a negative change over the past three months (e.g. decrease/ worse) from the % who stated a positive change over the past three months (e.g. increase/ better), to work out the overall impact.

LV= Wealth & Wellbeing Indices

Jun- 20

Sep- 20

Dec- 20

Mar- 21

Jun- 21

Change QonQ

How finances might look 3 months from now







How finances have changed in last 3 months







Total monthly outgoings







Income from work







Amount saving







Amount saving into pensions







Spend at the supermarket







Spend on socialising








The above data shows that there have been significant changes to some indices between March and June 2021.

  • Savings index falls: The index measuring saving has fallen over the past three months, from 10 in March 2021 to 2 in June 2021, with people spending more and saving less as lockdown restrictions ease. 
  • Spending on socialising and total outgoings are up: The index measuring spending on socialising has increased over the past three months from -47 in March  to -9 in June, indicating that spending on socialising is rising as lockdown restrictions ease. This has had a knock-on effect on total monthly outgoings, which have increased from -11 in March to 14 in June.

Notes to Editors

*LV= surveyed 4,000+ nationally representative UK adults via an online omnibus conducted by Opinium in June 2020, September 2020, December 2020, March 2021 and June  2021.

**UK population stats from ONS. Total UK adult population is 52.7m UK adults (aged 18+). 

For further information please contact:

Contact the press office
07867 141547

About LV=

LV= is a leading financial mutual and serves over 1.3 million members with a range of financial products. When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products. We offer our services direct to consumers, as well as through IFAs. 

LV= and Liverpool Victoria are registered trademarks of Liverpool Victoria Financial Services Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria group of companies. Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035. Registered address: County Gates, Bournemouth, BH1 2NF.