One in four Brits know more about pop culture than their savings accounts

Yahoo

26-03-2025

One in four Brits know more about pop culture than their savings accounts, according to a survey.
A poll of 2,000 adults found instead of confidently knowing the finer details of their savings, many of these could name the Premier League top scorer (39 per cent) and films nominated for best picture at the Oscars.
While others could easily list Taylor Swift albums (22 per cent) and name the actors who've played Doctor Who in recent years (22 per cent).
Some even know more about last year's Christmas number one (21 per cent) and the winners of The Traitors in January (19 per cent) than how their savings are performing.
As a result, 44 per cent admit they are in desperate need of getting on top of their finances with a 'financial spring clean.'
A third of these have no idea if they're getting good interest rates on their savings, and 20 per cent have multiple accounts they struggle to keep track of.
To help Brits take the first step and celebrate ISA season, Skipton Building Society, which commissioned the survey, has teamed up with Bread Ahead bakery to give away free ISA buns – a sweet incentive to kick-start their financial spring clean.
The collaboration saw 1,000 iced buns served in London yesterday [Thurs], encouraging savers to make the most of ISA season – with advisors from the building society on hand to talk about the importance of spring cleaning your savings and how to make the most of your money.
Financial influencer Abigail Foster said: 'It's so easy to ignore our savings because life gets in the way, but that could mean missing out on better interest rates and tax-free perks.
'ISA season is the perfect time for a quick financial spring clean.
'A lot of people don't realise you can transfer ISAs or consolidate old accounts to make them easier to manage and potentially earn more.
'It's worth checking what you've got and making sure your money is working as hard as possible for you.'
The research also found that savings (52 per cent) are the area most in need of a financial spring clean, followed by budgets (32 per cent) and bills (31 per cent).
But 23 per cent haven't given their cash a spring clean in over a year.
One in three (32 per cent) would be motivated to take action to see how much harder they could make their money work for them, and 27 per cent would do so if there was a financial incentive involved.
While 23 per cent want to do so to feel more in control of their finances.
However, 16 per cent have been reluctant to take action because they assume their money is already in the right place.
When it comes to ISAs, 39 per cent have more than one account – including Cash ISAs (75 per cent), Stocks and Shares ISAs (39 per cent), and Lifetime ISAs (17 per cent).
While 24 per cent check these accounts a few times a year to ensure they're getting the best rates, 25 per cent have never actually moved their money from one ISA to another to earn more interest.
A quarter prefer to leave their money where it is for convenience, and 23 per cent are reluctant to move their savings because they don't believe it will make much of a difference.
While 32 per cent didn't realise these accounts could be transferred, but doing so can help make them more manageable and might earn more interest.
In fact, one in 10 of those polled, via OnePoll, admitted to having completely lost track of previous savings accounts.
But 72 per cent subsequently did mange to locate these, finding an average of £125 still saved for their troubles.
Alex Sitaras, head of savings and partnership products at Skipton Building Society, said: 'While many Brits recognise their savings need a spring clean, it's clear that many don't fully understand how simple steps, like reviewing and consolidating accounts, can make a significant difference.
'The fact that so many believe their money is already in the right place shows how easy it is to become complacent.
'That's why we're celebrating ISA season and getting people talking about how to make the most of their tax-free savings.
'This opportunity to give your savings that 'tax-free feeling' by reviewing your options and transferring from outdated rates.'