Nearly two-thirds of British adults spend an average of 22 hours a week worrying about money, a survey has found — with those on the lowest incomes spending almost two full days a week with finances on their minds.
The research, commissioned by the thinkmoney app and carried out among more than 2,000 people across the UK in June, reveals that 65% of adults regularly think about whether bills are covered, check their balances, and wonder if their money will last.
“Two-thirds of UK adults spend 22 hours a week worrying about money, with those on low incomes affected most, a survey reveals.”
But the burden is far from evenly spread. People in the North East of England who worry about money spend the longest time, averaging 26.6 hours a week — equivalent to a part-time job. Those in the North West (24.6 hours) and South West (24.0 hours) also exceed the national average, while people in Scotland worry least, at 17.3 hours.
Income is a sharper divide. Households earning less than £15,000 who worry about money spend an average of 29.2 hours a week — 13 hours more than those in households earning more than £100,000, who average 16.2 hours.
The anxiety is not confined to bank balances. More than three in 10 (31%) people said they had cut back on food, heating or other essentials. A quarter (28%) had checked their balance multiple times in a single day looking for reassurance, while 17% avoided checking because they were scared to look. Another 13% had avoided opening bills, letters, emails or banking apps.
Beyond the numbers, the survey exposes a social toll. Three in 10 people said worrying about money had stopped them making plans for the future during the past year. More than a quarter said it had affected their confidence around everyday spending (28%) and stopped them feeling in control of their lives (28%). One in four (26%) said it made it harder to relax during free time, while 21% said it stopped them seeing friends or family as often as they would like. A further 17% said financial concerns prevented them from being fully present when with loved ones.
“We often measure money problems in pounds and pence, but this research suggests the real cost is something much more valuable – our time and attention,” said Vix Leyton, a consumer expert at thinkmoney. “Twenty-two hours isn’t just a statistic; it’s the parent mentally adding up the supermarket shop before they’ve reached the checkout and not enjoying their toddler singing in the trolley. It’s someone checking their banking app for the fourth time that day even though they know …”
