Despite daily concerns about money and a widespread feeling of being “time poor”, Britons are making clear choices about how they spend their time – and sport is emerging as the national priority, according to new research from Canaccord Wealth.
As a packed summer of live sport grips the country, Canaccord’s latest insights reveal a striking disconnect between the nation’s financial anxieties and its time management habits.
One in three (33%) adults say they feel constantly short of time, while a fifth (20%) admit they can’t remember the last time they had a moment to themselves.
Yet while 32% of people worry daily about not having their wealth management in order, sport remains a non-negotiable fixture in their schedules.
SPORTING IMPACT
More than half (56%) say they will watch multiple sporting events this summer, with 30% expecting to lose hours — or even days — to following the action. A further 29% are prepared to cancel other plans to do so.
The survey also found that 22% of people believe their sporting commitments this summer will have a direct impact on how they manage their finances.
Despite this, just 8% of respondents said they would use an extra hour in the day to focus on financial planning. And 11% admit they simply do not have enough time to manage their finances at all.
BACK ON TRACK
David Goodfellow, Head of Wealth Planning at Canaccord Wealth, says: “The average tennis match lasts up to two hours – but you don’t need anywhere near that long to get on the front foot with your finances.
“In fact, just one game of tennis is enough time to check your daily spending, half time at football could be all you need to review your investment portfolio, and in the time it takes to watch the rugby, you could have your entire financial plan back on track.”
And he adds: “Our findings reveal that, despite many of us claiming to have no time, it’s often not about having more time, but rather using the time we have wisely.
“Often starting a task is the hardest part, but by dedicating time to finances, just a fraction of what we spend watching sport, we could become a nation of financially savvy supporters.”
