The Dirty Little Secret of the Pandemic: Some People Are Saving a Fortune
Despite the unprecedented shedding of American jobs, real disposable personal income has been on the rise
While the deluge of coronavirus-related layoffs and furloughs continues into June, some Americans have a dirty little secret: Thanks to the shutdowns, they’ve been saving money — some for the first time ever.
As the listless indoor days tick by with nowhere to go and nothing to spend money on but rent and necessities, you can see this all over Twitter if you decide to look for it. “I’ve saved so much money during these 3 months by being limited to just about everything,” tweeted Dominique Provost in Lafayette, Louisiana. “I have saved so freakin much money cooking all but 3 meals at home for 3 months,” tweeted Talia Lavin, a writer and podcast host in New York City. Lavin lost her job as the editor in chief of a small publication when it folded in March and rethought her spending habits out of both necessity and prudence. “I think it’s made me more reluctant to spend $30 on a meal when I know that I can eat well for two days off rice, spices, and ground beef,” she said.
It may sound like a tone-deaf brag, but increased savings is the topsy-turvy reality…
