Brits might save hundreds by lastly tackling their to-do lists
New research shows how much UK adults could save annually by completing simple financial admin tasks
Brits could be paying the price for ignoring their to-do lists(Image: © SWNS)
Putting off mundane administrative tasks could be costing Britons more than £2,500 a year, new research has revealed. A survey of 2,000 adults discovered that those who managed to tick off early travel bookings and credit card balance transfers each saved upwards of £200 on average on each of these tasks.
Meanwhile, people who made the effort to renegotiate contracts saved an average of £158 over the past year; those who compared prices for cheaper energy tariffs managed to save £127. In addition, those who avoided procrastinating when managing subscriptions saved £81 over the last 12 months, according to the research commissioned by Blue Light Card.
However, 48% admitted they typically put off this kind of admin because they find themselves procrastinating. According to the research conducted by OnePoll, 67% are guilty of ignoring reminders which they have set themselves to tackle life admin tasks.
Some of the most overlooked tasks on people’s lists include cancelling subscriptions (11%) and researching the best available deals (11%). Following closely behind were organising financial documents (10%) and changing broadband suppliers (10%).
Almost three in 10 (29%) blamed a lack of motivation to get started, and 26% said they do not have enough time to manage everything.
Irregular work schedules were also listed by 16% as a key barrier to staying on top of life admin, however, 17% admitted they forgot about certain tasks altogether.
Interestingly, 24% admit that access to exclusive offers motivates them to finally tick financial tasks off their to-do list.
A spokesperson from Blue Light Card, the membership for emergency services, NHS, social care sector, teaching community and armed forces, which hopes to inspire members to keep on of their to-do lists, said: “We know for our members working on the frontline, time is precious and after a tough shift, life admin is the last thing anyone wants to do.”
“Findings show that the jobs we tend to procrastinate on can prevent our members from saving significant sums over the course of a year,” they added.
“We’re encouraging anyone who hasn’t yet shopped around for the best deals on utilities, home insurance and banking to finally tick these jobs off the to-do list and snap up a deal.”
MONEY SAVED BY KEEPING ON TOP OF TO-DO LISTS.
- Booking travel early for cheaper rates – £219.65
- Transferring high interest credit card balances to 0% – £205.53
- Switching bank accounts for better interest rates – £168.49
- Negotiating bills or contracts – £158.63
- Getting a switching bonus for changing banks, credit card companies or utility providers – £156.64
- Shopping around for better deals from energy providers – £127.51
- Buying in bulk (e.g. food, cleaning products etc.) – £127.14
- Switching to a cheaper energy tariff – £125.86
- Comparing supermarket prices – £121.85
- Making sure your insurance policies are up to date – £120.38
- Cancelling unused memberships (e.g., gym) – £104.59
- Shopping around for car insurance – £102.66
- Checking my eligibility for discounts, memberships and loyalty schemes – £99.82
- Using cashback websites – £97.50
- Claiming refunds – £94.63
- Shopping around for home and contents insurance – £85.76
- Shopping around for travel insurance – £84.36
- Changing broadband or mobile provider – £81.29
- Cancelling entertainment subscriptions (e.g. Netflix, Spotify, Disney + etc) – £81.08
- Cancelling magazine and app subscriptions – £76.60
- Changing to a cheaper phone contract – £68.51
