Half of us wish we were better with money

More than half of Brits wish they were better with money, according to new research from OnePoll that revealed many of us regularly choose convenience over cost.

Around 90% of us think we’re good with money, but just wish we could be better at knowing when to save and when to spend. Almost a quarter admit they aren’t great when it comes to putting money aside for a rainy day, and more than half of respondents admitted to often buying shop-bought snacks and lunches instead of preparing lunch at home for a fraction of the price.

Adults spend an average of £43 a month on ‘pointless’ items – the equivalent of £31,115 over a lifetime, while almost one in five don’t monitor their spending. 73% of the nation confess they worry about money, checking their bank balance an average of three times a week, and three in four wish they could earn a little extra pocket money.

One in 20 even admitted to making a purchase without actually checking how much it costs as experts are urging us to make more of an effort to set budgets. Of those who don’t set themselves a budget, one sixth admit it’s because they know they won’t stick to it. One in five don’t set a budget because they simply don’t worry about it, while 13% simply can’t be bothered.

“We’ve all had those months where payday seems to crawl into sight and when it eventually comes around, our well-earned pounds are frittered away on bills and debt,” said Louise Harper-King, a spokeswoman for OnePoll.

Do you often feel like you need help with you finances? Take a look at our previous App of the Week and let us know what you think on Twitter, Facebook or LinkedIn.