Over 50% of people plan not to reinstate direct debits post lockdown – expert gives advice

Direct debits for things such as gym or music services have faced cancellation across the board as coronavirus hits everyone’s wallets. Recently conducted research has highlighted just how dramatic these changes have been.

If this occurs, it could leave people with hundreds of pounds in extra income.

Anthony Morrow, the CEO of OpenMoney, commented on recent direct debit changes and provided advice on what consumers should do with the extra income they find themselves with.

As he detailed: “If there’s a positive to take from the current situation, it’s that many of us have had some time to reflect and re-evaluate.

“For some this has led to changes in financial habits. Learning that people are finding ways to cut back and save more money is encouraging.