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Financial planning is as popular as 'putting out the bins'!

Financial planning is as popular as 'putting out the bins'!

We all know financial planning isn’t the top priority for the time-pressed amongst us, but our 'Spring Cleaning' survey even gave us a few surprises! Apparently sorting out your personal finances is as popular as putting out the bins!! 

Our survey found that 73% of people have set aside a task for spring; their top three chores are sprucing up the garden, de-cluttering the house/window cleaning and re-decorating.

Those without a major job in their sights said their most dreaded chores were deep-cleaning the bathroom, ironing and in equal ranking, dusting/sorting out personal finances/putting out the rubbish (marginally ahead of washing-up, vacuuming and gardening).

Spring clean enthusiasts also identified; clearing out the loft, garage and/or shed and painting as key priorities. Washing curtains/blinds/shutters, painting the shed and/or fences, power-hosing the drive and/or patio and sorting out personal finances were equally ranked, ahead of re-seeding the lawn and cleaning out the pond.    

Thirty nine percent say completing their ‘spring clean’ or ‘dreaded chore’ takes them more than one day, while 31% whip through in two to three hours. When it comes to money management though, 36% are sluggish, taking from three months to a year to review their personal finances. Ten per cent never undertake this task - shock, horror!

Over a third of people - 37% - said they don’t know where to start to put their finances in order which does seem to be a common stumbling block. Common financial concerns include; not having enough savings to fall back on, not having enough in retirement to live on and not being able to save on a regular basis. 

While the team here at Lemonade Money can’t help with household spring cleaning, we can help with the financial side of things. Our financial education website has interactive platforms to help you keep on top of your day-to-day finances and topics include debt planning/budgeting, saving, buying a new home and protection.  

*Online survey undertaken 1 – 12 February 2017, 72 responses.

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