Sending a message to the wrong person, having your bank card declined and checking your bank balance are among the everyday situations Brits are most likely to dread, according to new research.
A new study commissioned by Santander UK found that 46% of Brits regularly experience feelings of dread or unease about standard everyday tasks. Among the situations people say make them feel most uneasy are, sending a message to the wrong person (44%), having a card declined (30%) and accidentally liking somebody’s old social media post (24%).
Checking a bank balance ranked fourth overall (23%), with some Brits claiming they would go as far as opting to hold a snake (10%), go on a blind date (9%), give up their phone for a week (9%), text an ex (8%) and go skydiving (8%) instead. Even higher earners3 feel the same, with 1 in 4 (23%) admitting they feel uneasy when opening up their banking app to check their balance.
Around two thirds of Brits (67%) say they tend to dodge important financial admin tasks due to the feeling of dread linked to it, whether that’s avoiding making a budget (42%), not opening letters or emails relating to their finances (40%) and even not paying bills (37%).
The main reasons given for putting off these tasks are that they feel too overwhelming (39%), they don’t know where to start (26%) or they lack confidence to deal with them (19%), with half (48%) finding it difficult to save regularly.
The research comes on the back of Santander launching its Regular Saver account4 offering an 8% interest rate to encourage and reward savers who start a regular monthly saving habit.
The findings reveal a clear gap between financial confidence and action. Despite most respondents saying they have a good grasp of their day-to-day spending (83%), half (49%) still admit to actively avoiding their bank account in certain situations, like just before payday (21%), after a holiday (24%) or after paying household bills (24%).
Millennials in particular feel most overwhelmed (56%) when checking their bank balance when compared to Gen Z (50%) and Gen X (42%), despite being more likely (82%) to claim they are aware of their everyday spending.
Gail Russell, Head of Everyday Banking at Santander UK, said: “Life can feel overwhelming, particularly when it comes to our money. From checking your bank balance after a holiday to starting to save, day-to-day and financial admin can be easy to put off. The important thing is to start somewhere, and even one small action can help people feel more in control.
“Our new Regular Saver pays 8% AER interest, rewarding customers for putting a little aside each month, helping make saving feel that little more achievable and turning good intentions into a regular habit.”
As well as benefitting from 8% interest with Santander’s Regular Saver account, customers who switch to Santander from an external provider can receive £240 for switching5.
The top 10 everyday moments Brits dread most
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