For many UK adults, the setting for making life’s biggest financial decisions isn’t a boardroom or spreadsheet – it’s more likely a park, a shower or even the local pub.
According to new research from Standard Life, part of Phoenix Group, two in five (38%) people say they’ve made major financial decisions while out for a walk, with property-related choices often among them.
The study, which explored where and how people make significant financial decisions, found that 21% of respondents have made such choices in the shower, while 19% admitted to deciding after a pint in the pub – a figure that jumps to 30% among 18- to 34-year-olds. A full third (33%) said they’ve reached big financial conclusions while on holiday.
Property was a notable theme running through many of these offbeat decision-making moments.
PUB POWER
One in five (21%) of those surveyed said they had decided to purchase a home while in the pub, with a similar number saying they had resolved to change jobs while on a walk (19%) or take out a loan in the shower (19%).
Large purchases – such as homes, cars, or luxury holidays – featured prominently among the types of decisions made in these unconventional locations. Thirty percent of pub-goers said they’d committed to such a purchase over a drink, while 27% had done so in the shower and 26% while on holiday or during a walk.
While most people felt confident in the decisions made during these moments of reflection – or spontaneity – one in twenty (5%) admitted to regretting choices made in the pub.
LIGHTBULB MOMENTS
Mike Ambery, Retirement Savings Director at Standard Life, says: “A change of scene can often bring clarity when making important decisions.
“Whether it’s getting fresh air on a walk, relaxing whilst on holiday or having a pint in the pub, a new environment can spark those lightbulb moments to help guide choices.
“While most people feel confident about the financial decisions they’ve made in these settings, it’s crucial to take a moment to pause and reflect – especially when it comes to big, life-changing choices – to ensure they’re the right ones.”
