Average Brit thinks they may reside in six houses and drive seven vehicles

A survey of 2,000 adults exploring their future projections revealed that they believe they will own seven cars and visit 11 different countries in their lifetime. However, 59% confessed that the best-laid plans often go awry, and their aspirations might alter as they age.

This is echoed by the 72% who anticipate their spending habits to shift as priorities evolve. The main future goals for those surveyed were enjoying nice holidays (50%) and ensuring their children’s happiness (42%), while one in five cited purchasing a new property as a significant motivator.

The study was conducted by AXA UK as part of its ‘Future You Will Thank You’ campaign. Tara Foley, CEO of AXA UK and Ireland, commented: “The future holds so many uncertainties that it’s hard to make steadfast plans, and unwelcome surprises can catch us all off guard. Making sure you’re protected if the worst should happen offers security and reassurance in a world where nothing can be taken for granted. Our research shows that people are thinking seriously about their future, investing money for a rainy day and taking out insurance to protect what matters most.”

Despite their best efforts, the research found that 58% felt they should be doing more to safeguard their future self.

Health and wellness (56%), financial planning (46%) and emergency preparedness (24%) are all areas they feel they should concentrate on more.

There’s also a strong awareness when it comes to future financial plans, with 49% saying they have a blueprint to achieve their long-term goals. Only 9% do not have a plan – and don’t intend to create one in the future.

Compared to previous AXA research in 2022, eating out and clothes remain the two expenditures people would like to curb when it comes to cutting back.

However, they are looking to spend more on holidays since 2022 (36%), up from 27%).

The research, conducted via OnePoll, also found that people continue to prioritise protecting themselves against unplanned eventualities by taking out insurance.

The average adult spends an estimated £690 on their various insurance policies each year, £129 more than two years ago. This includes cover for car, home, mobile devices, health, travel and other valuable items.

Although 43% confessed they opted for the cheapest option when it came to buying insurance – hoping they never need it.

Car (64%), house (60%) and contents (45%) remain the top three insurance policies people are purchasing to protect themselves from unexpected future events.

Tara Foley commented: “As a society, we’ve experienced so many unexpected changes over the past few years and our survey shows people are aware of the need to protect themselves against future risks.”

“However, there is a rising desire to enjoy life to the full, with more people wanting to jet off for holidays abroad than when we carried out a similar survey in 2022.”