09 Oct What is your hardest financial task?
Everyone has financial responsibilities, tasks and jobs, and taking care of them is crucial. We wanted to see which financial jobs were the most important for people in the UK, so we could find a way to make them easier to deal with.
When we talk about jobs, we mean it in an abstract sort of way. You have ‘jobs’ to perform with regards to your health, like ‘eating healthy foods’, ‘exercising’, ‘not smoking’, and things like that. Financial jobs could include managing your bills, putting aside money for savings each month, or trying to bring down your debt.
We surveyed 100 people, and asked them which financial job was their biggest priority. The results were fascinating!
Our survey says…
Almost half of the people we surveyed believe that ‘keeping their finances in order’, or making sure that they were in control of their money, is their most essential financial job. Around 1 in 5 people said that ‘avoiding debt problems’ was their number one priority, and then a smaller proportion rated ‘being financially savvy’ as most important. It turns out that ‘maintaining a good credit score’ was ranked the least important of financial jobs. Of course, if you successfully manage to keep your finances in order or avoid debt problems, you’re more likely to have a good score anyway… So that could have something to do with it.
When the survey results came through, the Creditspring office was abuzz. Those results are a great indicator that people understand how important it is to stay in control of your money!
Tackling unexpected expenses
When we spoke to our participants, they told us that one of the main obstacles stopping them from completing their financial jobs is an unexpected expense. The people we talked to try so hard to budget, save, plan for the future, and then the fridge breaks. One step forward, two steps back.
So, three quarters of people understand how important financial stability is, but unexpected expenses are a pain in the neck when it comes to reaching it. If we can help people to tackle unexpected expenses, then we’re helping more people to meet their key financial responsibilities, which means they’re more financially stable… Which should lead to healthier, happier and less stressed people in the UK!
We want to give hard working families the chance to achieve financial stability by reducing the pain and frustration associated with unexpected expenses and freeing up mind space to focus on the more important things in life, like family, friends, and fun!
To solve this problem, we are working on making a simpler, cheaper, less risky alternative to overdraft and credit cards. Join the queue to be one of our 1,000 first members!