We are savvier with our savings in a crisis

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Having just read a fascinating article about how Americans are currently focused on savings and being careful during this Covid Crisis, I thought I’d apply this thinking to Cardyard model.

Firstly those Americans: apparently even though many more Americans are claiming for unemployment benefits, the savings rate in the USA is at an all-time-high with 13.1%* of people actively saving money in savings accounts. And that's EVEN taking into account the diminished country-wide income with unemployment rising!

Now I don’t know about you, but based on my life currently, I would assume this could be due to several specific reasons:


1) There are far fewer shops open, and we’re more focused on buying the essentials, and doing fewer trips (so fewer last-minute indulgence purchases)

2) There are far fewer opportunities to enjoy luxury travel purchases like holidays, trips, new yachts(!) etc.

3) Shopping is now a fairly solitary affair, we head off alone, masked and gloved up, our attention is on keeping 2m away, getting everything on the list and getting out of there!

4) There are worries about the future that we cannot even know about. Covid caught us unawares, so who knows what is on the horizon. We need to ensure we have a cash cushion!

The Cardyard model, and how it can help in Covid cash-strapped times


Cash is king. Yes, we know we sell gift-cards but really we do it to help people save money and to do this strategically. We don’t sell gift-cards as gifts!

Saving is wise – buying wisely is even wiser. Using the Cardyard model you buy using a gift-card, and therefore get a % discount on everything. Even off “normal” shopping. In fact, especially off normal shopping!

Never gift or keep gift vouchers or gift cards.

We advise that people never gift nor keep a gift-card. More than £60Million each year is lost from gift-cards expiring. So just don’t do it.

Buy strategically – think about your purchasing, and only then apply the wise-buying model.

  • If you’ve got a gift-card and it’s burning a hole, then trade it on Cardyard for something you really want.
  • If you’re thinking about giving a gift-card, then think twice.Cash is better, more flexible and everyone takes it!
  • But if you just can’t tolerate giving cash, then at least ask the recipient which card they would like, and point them towards Cardyard afterwards in case they change their mind.

*last recent times that savings reached nearly 13% was 2012 and 1970.

22nd of May, 2020More blog posts