Rather than confidently knowing the details of their savings, in a poll of 2,000 adults, many of these were able to name films that were nominated for Premier League top scorers (39%) and Best Pictures by Oscar.
Others can easily list Taylor Swift’s albums (22%) and name the actors who have played Doctor Who in recent years (22%).
Some also know how savings work for last year’s Christmas number one (21 percent) and the traitor winner in January (19 percent).
As a result, 44% acknowledge that they desperately need to get on top of their finances with “Financial Spring Clean.”
I don’t know if a third of these are earning good interest rates for savings. 20% have multiple accounts that are struggling to track.
To celebrate the ISA season, the Skipton Building Society, which commissioned the investigation, worked with the bakery ahead of the bread, handed out a free Isaban.
The collaboration offered 1,000 ice pans in London yesterday [Thurs]encouraging savers to make the most of their ISA season. We will talk with our Building Society advisors about the importance of cleaning your savings and how to make the most of your money.
Financial influencer Abigail Foster said:
“The ISA season is the perfect time to quickly clean financial springs.
“Many people don’t realize that they can transfer ISAS or integrate older accounts to make them easier to manage and allow for more acquisitions.
“It’s worth checking out what you have and making sure your money is working as hard as possible for you.”
The survey found that savings (52%) are the areas in which financial spring cleansing are most needed, followed by budgets (32%) and bills (31%).
However, 23% have not given cash spring cleaning for more than a year.
One in three (32%) (32%) will be motivated to take action to see if they can make money for them, and 27% will do so if financial incentives are involved.
23% want to do so to get more control over the finances.
However, 16% were reluctant to take action, as they assumed their money was already in the right place.
Regarding ISAS, 39% have multiple accounts including cash ISA (75%), stocks and equity ISA (39%) and lifetime ISA (17%).
While 24% check these accounts several times a year to guarantee you get the highest rates, 25% have never actually moved their money from one ISA to another to earn more interest.
A quarter prefers to leave money in convenient locations, and 23% are reluctant to move their savings. Because they don’t think it makes a big difference.
Thirty-two percent were not aware that these accounts could be transferred, but doing so would make them more manageable and gain more interest.
In fact, one in ten people voted through OnePoll admitted that they had lost their previous savings accounts completely.
But then 72% manjid to find these and found an average of 125 pounds still being saved due to trouble.
“We’ve seen a lot of effort into savings and partnership products at Skipton Building Society,” said Alex Sitaras, Head of Savings and Partnership Products.
“The fact that many people believe their money is already in the right place shows how easy it is to be satisfied.
“That’s why we celebrate ISA season and have people talk about how to make the most of their tax-free savings.
“This opportunity to give your savings a ‘tax-free feeling’ by checking your options and transferring them from outdated fees. ”
