Financial planning is the task the UK is putting off the most when it comes to everyday ‘to-do’ lists, according to a survey of more 2000 people. Young people are the most likely to feel stressed and overwhelmed about tasks on their to-do list.
The survey found that Britons tend to take a short-term view with financial matter, for example, 25% of us plan daily to pay off credit card bills.
However, when it comes to equally important long-term tasks, many let these slip down the list. Key findings here were:
- Only 5% ranked financial planning tasks at the top of their list
- Only 9% planned to review their pension
It also appears that many are giving in to inertia – potentially missing out on the best deals – just 16% of people have moved bank accounts for a better deal.
But the problem is not simply a question of inertia – it seems people are unsure about how to go about doing switching or reviewing:
- 50% think it would be easy to switch a utility provider for a better deal
- 24% think it would be easy to review their pension
- 23% would feel completely overwhelmed switching utility provider
- 20% would feel overwhelmed reviewing pensions
Young people in particular are likely to find this tricky:
- 25-34 years olds are most likely to feel there is not enough time in the day to get everything done, with 40% having experienced this
- 36% of 18-24 year olds don’t know how to begin tackling their to-do lists