Our CEO, Leon Ward, features as one of the expert voices in the piece, drawing on Money Ready’s own Cost of Not Knowing research to talk about what avoidance costs, and why so many of us put these tasks off in the first place.

Leon said:

“These tasks rarely feel like big financial decisions in the moment, but the cost of delay stacks up. Our Cost of Not Knowing research found the average UK adult loses around £641 a year by putting off money decisions that feel confusing or overwhelming – and that’s before overpaying on things like phone contracts and subscriptions. People often spend longer worrying about these jobs than it takes to do them.”

A shared story: money decisions we know we should make, but don’t

MoneySuperMarket’s research, based on a nationally representative survey of 2,000 UK adults, found that nearly half (45%) have at least one unfinished financial life admin task on the go, and one in four have three or more. Almost a quarter (23%) said the reason they delay is that tasks feel overwhelming, and 15% simply don’t know where to start.

That last finding echoes what our own Cost of Not Knowing research uncovered earlier this year: a third of UK adults have actively avoided major financial decisions because they didn’t know where to begin. When you put the two studies side by side, a clear picture emerges. This isn’t about people being disorganised, distracted or careless. It’s about people never having been given the tools, language or confidence to feel in control of their money.

Small steps make a real difference

The encouraging news from the MoneySuperMarket research is that once people take action, they feel the benefit almost immediately. Nearly two-thirds (64%) say completing life admin makes them feel more in control, and more than half (57%) of younger adults say clearer guidance would make them more likely to act.

This is exactly the space Money Ready works in. Our programmes reach over 50,000 people across the UK every year, giving people from primary school to adulthood the confidence to make everyday money decisions and the long-term ones that shape their lives.

Whether it’s reviewing a subscription, checking a savings rate or updating a will, small actions add up. And the first one is often easier than it looks.

Read the full research on MoneySuperMarket’s website: The Life Admin Report

Find out more about our Cost of Not Knowing campaign and how you can get involved: The Cost of Not Knowing