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Lifestyles and spending habits results presentation 2013

- Over 250 panellists completed an online survey about their financial attitudes, lifestyles and spending habits. - Almost 6 in 10 respondents were satisfied with how things were going in their life, with career, family and health being key drivers of satisfaction. Less than a fifth felt their career or financial situation had exceeded expectations. - Financial security was the greatest hope for the future, followed by travel and home ownership. Only a third felt optimistic about the future.

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Research into the Financial Attitudes, Lifestyles and Spending Habits of UK Consumers in 2013 Prepared by Scott Owens 18th February 2013 Robust Insight: Online Consumer Panel Robust Insight | Website: www.robust-insight.co.uk | Telephone: 078252 69235 | Email: info@robust-insight.co.uk
Background to this Study 2 ABOUT: Robust Insight Online Panel Over 5,000 active members and growing every day Highly engaged and highly responsive panellists Extensively profiled to efficiently target respondents Actively managed by a team of panel management experts Methodology and Sampling Over 250 panellists took part in our study They completed a 25 question online survey The survey was a mix of fixed choice and open questions Respondents were given the chance to win Amazon vouchers for taking part Background & Objectives Robust Insight has recently launched an Online Panel of UK Consumers. The panel is available to all clients who wish to gain quantitative feedback in the form of an online survey. We also offer expert consultancy in the areas of survey design, sampling, survey scripting, analysis and presentation preparation. To demonstrate the usefulness of the online panel we have run our first study entitled ‘Financial Attitudes, Lifestyles and Spending Habits of UK Consumers in 2013’. The results are FREE to all prospective clients and we are currently offering 15% OFF to any organisations who commission an online survey before 29th March 2013.
3 • UK consumers continued to feel the pinch of the prolonged economic downturn • The rising cost of living and bleak employment situation led to increased dissatisfaction with life and reduced optimism about the future • Consumers were using a number of innovate ways to save money and boost their income to help make ends meet − For example, trading in retailer loyalty points, selling existing possessions or taking on extra work or another job • The Internet played a major role in allowing consumers to access cheaper deals − For example, using online discount codes & coupons, shopping through cash back websites and switching energy providers • Despite widespread dissatisfaction with the current economic climate family remained the most important aspect of their lives Key Highlights
4 Executive Summary
Executive Summary #1:Life Satisfaction • Almost 6 out 10 respondents (58%) were satisfied with how things were going with their life − Career, family and good health were key drivers of high life satisfaction − Money and employment issues were key drivers of low life satisfaction • Less than a fifth felt their career (17%) or their financial situation (18%) had exceed their life expectations • Financial security (57%) was their greatest hope for the future − Followed by travelling (36%) and buying a home (19%) • Only a third (34%) of respondents were optimistic about the future 5
Executive Summary #2 Lifestyles • The areas most likely to be rated important were personal happiness (80%), family (79%), financial security (78%) and partner/spouse (78%) • Family (29%) and children (20%) were rated significantly higher than any other area when it came to the one most important thing in life • In an average week respondents spent the most time using the internet, watching television and caring for children/kids activities − Hobbies, personal hygiene and cooking were also popular pass times • The most popular ways to spend a few extra hours a week were exercising (33%), me time (32%) and spending time with my partner (30%) 6
Executive Summary #3 Spending Habits • Less than a fifth of respondents (19%) felt their personal financial situation had got better in the last year − With only a third (33%) expecting their personal finance situation to get better in the next 12 months • Almost two-thirds (63%) had cut back on expenditure in the last 12 months − The most likely expenditure to cut back on was clothing (70%), evenings out with family/friends (63%) and holidays (62%) • The most popular ways to save money were shopping online for cheaper deals (72%), buying goods in the sales (71%) and using online discount codes (62%) • The most popular ways to boost income were using retailer loyalty points (53%), selling existing possessions (50%) and taking on extra work or a second job (32%) 7
8 Demographic Profile
9 Respondent Demographics Gender Age Marital Status Annual Personal Income Employment Status The results in this survey have been weighted by GENDER AND AGE to ensure they are representative of the UK Adult Online population (Q1 2012). Source: ONS Internet Access Quarterly Update, 2012 Q1 Number of children under 18 in household 50% 50% 25% 37% 38% Under 35 35-54 55 or over 61% 31% 6% Married/ Living with partner Single, never married Divorced, Separated or Widowed 38% 62% With children Without children 60% 40% Working Full time, part time or self employed Not Working Retired, student, homemaker, disabled, unemployed Less than £20,000 52% £20,000-30,000 21% More than 30,000 27% *2% Other
10 SECTION #1: Life Satisfaction
Life Satisfaction 8% 17% 17% 47% 11% Overall, how satisfied or dissatisfied are you with the way things are going in your life today? Extremely dissatisfied Somewhat dissatisfied Neither satisfied nor dissatisfied Somewhat satisfied Extremely satisfied 58% Top 2 box • Almost 6 out of 10 respondents (58%) were satisfied with the way things were going in their life today − A further 17% were neither satisfied nor dissatisfied and a quarter (25%) were dissatisfied Groups with the Lowest Life Satisfaction  Registered Disabled 0%  Divorced/Separated/Widowed 29%  Registered Unemployed 35%  Earning less than £20,000 per year 47%  No children 52%  Aged over 55 52% Groups with the Highest Life Satisfaction  Self Employed 80%  Earning more than £30,000 per year 76%  Aged between 18 and 34 68%  With children 68%  Employed Full Time 66%  Married/ Living with a partner 62% N=257 11
Reasons for High Life Satisfaction 12 8% 9% 13% 13% 15% 16% 19% 23% Children House/home Finances/ money Friends Partner/spouse Health Family Career Why are you satisfied with the way things are going with your life today? • Career (23%), Family (19%) and Health (16%) were main areas mentioned by those who were satisfied with how their life was going today “I am extremely satisfied as I have a loving partner, my family and my career. I am doing well in life.” “I am financially secure, my children and extended family are reasonably healthy. My children are in stable jobs and in good relationships.” “I have three happy healthy children and a lovely husband and I am generally content.” “I have a lovely family and extended family. I am fulfilled with my work. I have lots of friends and have good holidays.” N=150
13 Reasons for Low Life Satisfaction N=164 3% 5% 6% 8% 15% 27% 29% Old age Single Recession Poor health Dislike job Can't find work Lack of money Why are you dissatisfied with the way things are going with your life today? • Lack of money (29%), can’t find work (27%) and dislike job (15%) were main areas mentioned by those who were dissatisfied with how their life was going today “Working more but not earning much more money - things costing more so less disposable income.” “This recession has really affected me and my family for financial reasons as well as employment prospects for our grown children.” “My husband is out of a job and it is hard to make ends meet.” “Because my health is bad right now, which has affected my career.”
Evaluating Aspects of Life Today 12% 13% 6% 9% 6% 7% 4% 7% 3% 2% 3% 3% 4% 33% 35% 17% 22% 27% 22% 14% 18% 16% 15% 12% 12% 10% 37% 35% 56% 47% 43% 44% 49% 35% 38% 33% 35% 31% 29% 13% 13% 16% 16% 17% 24% 25% 27% 21% 31% 29% 23% 24% 4% 5% 5% 6% 7% 4% 8% 13% 22% 19% 21% 31% 34% Career Financial situation Place in society Control over my destiny Social life Work/life balance Education Happiness Relationship with my friends Family Relationship with my parents Relationship with my partner Relationship with my children Thinking about what you want in life, how would you rate the following aspects of your life today? Significantly below expectation Below expectation Meets expectation Exceeds expectation Greatly exceeds expectation 57% 54% 50% 50% 44% 40% 33% 28% 24% 22% 21% 18% 17% Top 2 box N=164-254 (Excludes Not Applicable) • The aspects most likely to exceed expectations related to relationships with children (57%), partner (54%), parents (50%) and family (50%) • The aspects least likely to exceed expectations were career (17%), financial situation (18%), place in society (21%) and control over destiny (22%) 14
Hopes for the Future 1% 2% 3% 4% 5% 5% 6% 7% 8% 11% 12% 15% 15% 16% 16% 16% 18% 19% 36% 57% Move to the city Send my children to a private school Simplify my family life Reduce work hours Buy an investment property Move to the country Return to work Promotion at work Pursue more education Get married Volunteer/give back Find the right partner Change careers or start a business Pursue a hobby Pay off my home Make more time for my family Have children/ more children Buy a home Travel Financial security What are your THREE greatest hopes for the future? • Over half of respondents (57%) selected financial security as one of their three greatest hopes for the future – this was significantly higher than any other option • Other popular hopes for the future were to travel (36%), buy a home (19%) and have children/ more children (18%) N=257 Differences between Males and Females Males were more likely than females to want:- - Financial security - Pursue a hobby - Pay off home - Change careers or start a business Females were more likely than males to want:- - Return to work - Volunteer give back - Move to the country - Reduce work hours= sig. higher 15
Feelings About the Future 18% 48% 34% In general, how do you feel about the future? Pessimistic Average Optimistic Only a third of respondents (34%) felt optimistic about the future, with a further half (48%) feeling average and almost a fifth (18%) feeling pessimistic Groups most likely to be Optimistic  Self Employed 68%  Earning more than £30,000 per year 48%  Full Time Student 48%  Aged between 18 and 34 45%  With children 40%  Single, never married 42%  Females 38% Groups most likely to be Pessimistic  Registered Disabled 84%  Registered Unemployed 45%  Not Working 42%  Divorced/Separated/Widowed 29%  Earning less than £20,000 per year 25%  Males 25%  Aged between 35-54 22% 16
17 Lifestyles
Importance of Life Aspects Personal happiness (80%), family (79%), financial security (78%) and partner/spouse (78%) were the most likely areas to be rated very or extremely important N=207-255 (Excludes Not Applicable) 18 26% 33% 36% 43% 44% 48% 48% 64% 65% 73% 76% 78% 78% 79% 80% Sport Community Giving back/philanthropy Wealth Hobbies Career Education Friends Health and fitness Comfortable household Children Partner/ spouse Financial security Family Personal happiness How important are the following items in your life? Very/ Extremely important Sport (26%), community (33%) and giving back/philanthropy (36%) were the least likely to be rated very or extremely important
Most Important Life Aspect 10% 11% 11% 20% 29% Health and fitness Partner/ spouse Personal happiness Children Family And what is the single most important thing in your life? (Top 5) • Family (29%) and children (20%) were rated significantly higher than any other area when it came to the most important thing in life • Personal happiness (11%), partner/spouse (11%) and health & fitness (10%) were also rated highly 19 = sig. higher Differences between Males and Females Females selected family and children more than males Males selected personal happiness and health & fitness more than females
Allocation of Time 1.2 2.4 2.4 2.5 2.9 3.2 4.2 4.2 4.2 5.6 5.7 6.2 7.3 9.6 13.2 13.6 Volunteer activities Shopping (for myself, family, home, gifts) Household maintenance Laundry Grocery shopping Exercising or playing sports Reading Cleaning Family Activities Socialising Cooking Personal hygiene / Grooming Hobbies/Personal activities Caring for children/kids activities Watching television Using the Internet (non-work related) On average, how many hours per week do you spend on the following activities? Number of hours per week Differences between Males and Females Females spent more time than males:- - Caring for children - Personal hygiene/Grooming - Cooking - Cleaning Males spent more time than females:- - Using the Internet - Hobbes/Personal activities - Exercising or playing sports 20 Differences between Age Groups - Under 35s spent more time socialising than older age groups - 35-54s spent more time caring for children and family activities than other age groups - Over 55s spent more time watching television and reading than younger age groups • On average, respondents spent the most time using the internet (13.6 hr/wk), watching television (13.2 hr/wk) and caring for children/kids activities (9.6 hr/wk)
Allocation of an Extra Few Hours Per Week 4% 5% 9% 11% 14% 14% 18% 18% 18% 18% 28% 30% 32% 33% Watching television Working Reading magazines, books, journals Catching up with extended family Surfing the internet Playing with my children Completing everyday tasks & chores Giving back/volunteering Studying/learning Pursuing my hobby Catching up with friends Spending time with my partner Me time – doing things that I enjoy Exercising/personal fitness If you were given a few extra hours every week, how would you spend them? The most popular ways to spend a few extra hours per week were exercising/ personal fitness (33%), me time – doing things that I enjoy (32%) and spending time with my partner (30%) 21 Differences between Males and Females Females were more likely than males to spend their extra time:- - Catching up with friends - Playing with children - Catching up with extended family Males were more likely than females to spend their extra time:- - Pursuing a hobby - Studying/learning - Giving back/volunteering
22 Spending Habits
Personal Finance Situation 7% 30% 47% 17% Don't even have enough to meet basic expenses Just meet your basic living expenses Meet your basic expenses with a little left over for extras Live comfortably with little financial worries How would you describe your own personal financial situation? Would you say you…. 23 • Almost two-thirds of respondents (63%) described their financial situation as comfortable with little financial worries (17%) or enough to meet basic expenses with a little left over for extras (47%) • A further third (30%) had enough to meet basic living expenses and only 7% did not have enough to meet basic expenses Most likely to have little financial worries  Retired 31%  Females 25%  Earning over £30,000 per year 24%  Aged 55+ 20%  Without children 19% Most likely to not be able to meet basic expenses  Registered unemployed 44%  Earning less than £20,000 per year 12%  Single, never married 11%  Aged between 18 and 34 11%  With children 8%
24 10% 32% 38% 16% 3% How has your personal finance situation changed compared with this time LAST YEAR? It is… 1 - A lot worse 2 - A little worse 3 - The same 4 - A little better 5 - A lot better Personal Finance Situation 6% 23% 38% 27% 6% How do you expect your personal finance situation to change over the NEXT 12 MONTHS? It will… 1 - Get a lot worse 2 - Get a little worse 3 - Not change 4 - Get a little better 5 - Get a lot better The groups most likely to feel their personal finance situation had got better (19%) were:- - Under 35s - Earning more than £30,000 - Employed FT/ Self Employed The groups most likely to feel their personal finance situation had got worse (43%) were:- - Over 55s - Registered Disabled - Unemployed/ Not Working The groups most likely to expect their personal finance situation to get better (33%) were:- - Under 35s - Earning more than £20,000 - Employed FT/ Self Employed The groups most likely to expect their personal finance situation to get worse (29%) were:- - Over 55s - Retired - Registered Disabled - Unemployed/ Not Working Top 2 box 19% Top 2 box 33%
25 17% 11% 2% 4% 17% 15% 11% 10% 27% 28% 28% 17% 23% 22% 38% 35% 15% 24% 22% 33% In a year from now I am sure that I will be financially better off In the last 12 months I have felt financially a lot worse off than before I plan ahead more than I used to when it comes to money I have made a conscious effort to spend less money recently Below are some statements other people have made about money matters. To what extent do you agree or disagree with the following statements. 1 - Disagree strongly 2 - Disagree slightly 3 - Neither agree nor disagree 4 - Agree slightly 5 - Agree strongly Attitudes to Money Matters Top 2 box 69% 60% 46% 39% • More than two-thirds (69%) of respondents agreed with the statement ‘I have made a conscious effort to spend less money recently’ • Six out 10 (60%) agreed with the statement ‘I plan ahead more than I used to when it comes to money’
26 6% 7% 9% 9% 10% 10% 11% 15% 17% 17% 18% 24% 25% 31% 43% Childcare costs Cuts in government benefits Mortgage costs Pay freeze Saving for a pension Insurance costs Fear of losing my job or having my working hours cut Rent costs Debt repayments Public transport costs Difficulties finding a job Food costs Motoring costs Lack of savings Utility costs (gas, electricity and water bills) What are your greatest financial worries at the moment? Please select up to 3 answer options. Financial Worries • Utility costs (43%), lack of savings (31%), motoring costs (25%) and food costs (24%) were the greatest financial worries at the moment
27 37% 20% 19% 14% 5% 21% 21% 16% 13% 6% 9% 6% 3% 16% 19% 16% 19% 22% 14% 17% 12% 13% 23% 26% 31% 29% 26% 36% 32% 13% 17% 23% 23% 41% 46% 38% 53% I sometimes have to use credit to pay my bills I sometimes have trouble keeping on top of my bills I often run short of cash before my next payday My family would help me out if I was ever struggling to make ends meet I am spending more on everyday essentials and less on treating myself than 12 months ago I am spending more on petrol / transport than I did 12 months ago I am spending more on supermarket shopping than I did 12 months ago I am paying more on my household bills including gas and electricity than I did 12 months ago To what extent do you agree or disagree with the following statements about household bills and managing your money. 1 - Disagree strongly 2 - Disagree slightly 3 - Neither agree nor disagree 4 - Agree slightly 5 - Agree strongly Household Bills and Managing Money 85% 74% 72% 70% 54% 49% 40% 25% Top 2 box • The majority of respondents (85%) agreed with the statement ‘I am paying more on my household bills including gas and electricity than I did 12 months ago’ • Three-quarters agreed with the statement ‘I am spending more on supermarket shopping than I did 12 months ago’ N=218-248 (Excludes Not Applicable)
28 37% 63% No Yes Have you cut back on any expenditure over the last 12 months? Cutting back on Expenditure 7% 7% 22% 22% 22% 23% 25% 26% 30% 43% 59% 62% 63% 70% Broadband Pet care costs Electric and heating costs Mobile phone tariff Satellite or cable TV Gym membership Insurance products Driving/ motoring costs Toiletries and personal grooming Food costs Days trips with family/ friends Holidays Evenings out with family/ friends Clothing Which of the following have you cut back on in the last 12 months? • Almost two-thirds (63%) had cut back on expenditure in the last 12 months • The most likely expenditure to cut back on was clothing (70%), evenings out with family/friends (63%) and holidays (62%)
29 6% 9% 15% 24% 27% 37% 39% 42% 44% 47% 58% 62% 71% 72% Installed a pre-payment energy meter Given up smoking Cancelled gym membership Booked holidays earlier to benefit from discounts Switched energy providers to get the best deal on gas or electric Cut back on my use of credit Shopped at a local market Walked/cycled instead of paying for car/bus/train Switched to a cheaper supermarket Used coupon websites (like Groupon or Living Social) Switched from branded to own-brand products Used online discount codes Bought clothes and other goods in the sales Shopped online for cheaper deals instead of in store Have you done any of the following to SAVE MONEY over the last 12 months? Saving Money • The most popular ways to save money were shopping online for cheaper deals (72%), buying clothes and other goods in the sales (71%) and using online discount codes (62%)
30 5% 7% 9% 9% 16% 19% 21% 21% 22% 32% 50% 53% Rented out my parking space Taken in a lodger Claimed back PPI (Payment Protection Insurance) Received an incentive for referring family/friends to a company Used a credit card to gain cash back on purchases Moved my savings into a tax free ISA Traded my old mobile phone in for cash (e.g. Envirofone or Mazuma Mobile) Investigated what extra government benefits I/my family were entitled to Shopped online through cash back websites (e.g. Quidco or TopCashBack) Taken on extra work, overtime or a second job Sold some of my existing possessions (e.g. on eBay or at a car boot sale) Traded in retailer loyalty points Have you done any of the following to BOOST YOUR INCOME over the past 12 months? Boosting Income • The most popular ways to boost income were trading in retailer loyalty points (53%), selling existing possessions (50%) and taking on extra work or a second job (32%)
31 Thank you – we hope you found the results of this survey interesting and useful. For more information about this survey or to discuss the Robust Insight Consumer Panel in more detail please contact Scott Owens on 078252 69235 or email us info@robust- insight.co.uk Robust Insight | Website: www.robust-insight.co.uk | Telephone: 078252 69235 | Email: info@robust-insight.co.uk

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Lifestyles and spending habits results presentation 2013

  • 1.
    Research into theFinancial Attitudes, Lifestyles and Spending Habits of UK Consumers in 2013 Prepared by Scott Owens 18th February 2013 Robust Insight: Online Consumer Panel Robust Insight | Website: www.robust-insight.co.uk | Telephone: 078252 69235 | Email: [email protected]
  • 2.
    Background to thisStudy 2 ABOUT: Robust Insight Online Panel Over 5,000 active members and growing every day Highly engaged and highly responsive panellists Extensively profiled to efficiently target respondents Actively managed by a team of panel management experts Methodology and Sampling Over 250 panellists took part in our study They completed a 25 question online survey The survey was a mix of fixed choice and open questions Respondents were given the chance to win Amazon vouchers for taking part Background & Objectives Robust Insight has recently launched an Online Panel of UK Consumers. The panel is available to all clients who wish to gain quantitative feedback in the form of an online survey. We also offer expert consultancy in the areas of survey design, sampling, survey scripting, analysis and presentation preparation. To demonstrate the usefulness of the online panel we have run our first study entitled ‘Financial Attitudes, Lifestyles and Spending Habits of UK Consumers in 2013’. The results are FREE to all prospective clients and we are currently offering 15% OFF to any organisations who commission an online survey before 29th March 2013.
  • 3.
    3 • UK consumerscontinued to feel the pinch of the prolonged economic downturn • The rising cost of living and bleak employment situation led to increased dissatisfaction with life and reduced optimism about the future • Consumers were using a number of innovate ways to save money and boost their income to help make ends meet − For example, trading in retailer loyalty points, selling existing possessions or taking on extra work or another job • The Internet played a major role in allowing consumers to access cheaper deals − For example, using online discount codes & coupons, shopping through cash back websites and switching energy providers • Despite widespread dissatisfaction with the current economic climate family remained the most important aspect of their lives Key Highlights
  • 4.
  • 5.
    Executive Summary #1:LifeSatisfaction • Almost 6 out 10 respondents (58%) were satisfied with how things were going with their life − Career, family and good health were key drivers of high life satisfaction − Money and employment issues were key drivers of low life satisfaction • Less than a fifth felt their career (17%) or their financial situation (18%) had exceed their life expectations • Financial security (57%) was their greatest hope for the future − Followed by travelling (36%) and buying a home (19%) • Only a third (34%) of respondents were optimistic about the future 5
  • 6.
    Executive Summary #2Lifestyles • The areas most likely to be rated important were personal happiness (80%), family (79%), financial security (78%) and partner/spouse (78%) • Family (29%) and children (20%) were rated significantly higher than any other area when it came to the one most important thing in life • In an average week respondents spent the most time using the internet, watching television and caring for children/kids activities − Hobbies, personal hygiene and cooking were also popular pass times • The most popular ways to spend a few extra hours a week were exercising (33%), me time (32%) and spending time with my partner (30%) 6
  • 7.
    Executive Summary #3Spending Habits • Less than a fifth of respondents (19%) felt their personal financial situation had got better in the last year − With only a third (33%) expecting their personal finance situation to get better in the next 12 months • Almost two-thirds (63%) had cut back on expenditure in the last 12 months − The most likely expenditure to cut back on was clothing (70%), evenings out with family/friends (63%) and holidays (62%) • The most popular ways to save money were shopping online for cheaper deals (72%), buying goods in the sales (71%) and using online discount codes (62%) • The most popular ways to boost income were using retailer loyalty points (53%), selling existing possessions (50%) and taking on extra work or a second job (32%) 7
  • 8.
  • 9.
    9 Respondent Demographics Gender AgeMarital Status Annual Personal Income Employment Status The results in this survey have been weighted by GENDER AND AGE to ensure they are representative of the UK Adult Online population (Q1 2012). Source: ONS Internet Access Quarterly Update, 2012 Q1 Number of children under 18 in household 50% 50% 25% 37% 38% Under 35 35-54 55 or over 61% 31% 6% Married/ Living with partner Single, never married Divorced, Separated or Widowed 38% 62% With children Without children 60% 40% Working Full time, part time or self employed Not Working Retired, student, homemaker, disabled, unemployed Less than £20,000 52% £20,000-30,000 21% More than 30,000 27% *2% Other
  • 10.
    10 SECTION #1: LifeSatisfaction
  • 11.
    Life Satisfaction 8% 17%17% 47% 11% Overall, how satisfied or dissatisfied are you with the way things are going in your life today? Extremely dissatisfied Somewhat dissatisfied Neither satisfied nor dissatisfied Somewhat satisfied Extremely satisfied 58% Top 2 box • Almost 6 out of 10 respondents (58%) were satisfied with the way things were going in their life today − A further 17% were neither satisfied nor dissatisfied and a quarter (25%) were dissatisfied Groups with the Lowest Life Satisfaction  Registered Disabled 0%  Divorced/Separated/Widowed 29%  Registered Unemployed 35%  Earning less than £20,000 per year 47%  No children 52%  Aged over 55 52% Groups with the Highest Life Satisfaction  Self Employed 80%  Earning more than £30,000 per year 76%  Aged between 18 and 34 68%  With children 68%  Employed Full Time 66%  Married/ Living with a partner 62% N=257 11
  • 12.
    Reasons for HighLife Satisfaction 12 8% 9% 13% 13% 15% 16% 19% 23% Children House/home Finances/ money Friends Partner/spouse Health Family Career Why are you satisfied with the way things are going with your life today? • Career (23%), Family (19%) and Health (16%) were main areas mentioned by those who were satisfied with how their life was going today “I am extremely satisfied as I have a loving partner, my family and my career. I am doing well in life.” “I am financially secure, my children and extended family are reasonably healthy. My children are in stable jobs and in good relationships.” “I have three happy healthy children and a lovely husband and I am generally content.” “I have a lovely family and extended family. I am fulfilled with my work. I have lots of friends and have good holidays.” N=150
  • 13.
    13 Reasons for LowLife Satisfaction N=164 3% 5% 6% 8% 15% 27% 29% Old age Single Recession Poor health Dislike job Can't find work Lack of money Why are you dissatisfied with the way things are going with your life today? • Lack of money (29%), can’t find work (27%) and dislike job (15%) were main areas mentioned by those who were dissatisfied with how their life was going today “Working more but not earning much more money - things costing more so less disposable income.” “This recession has really affected me and my family for financial reasons as well as employment prospects for our grown children.” “My husband is out of a job and it is hard to make ends meet.” “Because my health is bad right now, which has affected my career.”
  • 14.
    Evaluating Aspects ofLife Today 12% 13% 6% 9% 6% 7% 4% 7% 3% 2% 3% 3% 4% 33% 35% 17% 22% 27% 22% 14% 18% 16% 15% 12% 12% 10% 37% 35% 56% 47% 43% 44% 49% 35% 38% 33% 35% 31% 29% 13% 13% 16% 16% 17% 24% 25% 27% 21% 31% 29% 23% 24% 4% 5% 5% 6% 7% 4% 8% 13% 22% 19% 21% 31% 34% Career Financial situation Place in society Control over my destiny Social life Work/life balance Education Happiness Relationship with my friends Family Relationship with my parents Relationship with my partner Relationship with my children Thinking about what you want in life, how would you rate the following aspects of your life today? Significantly below expectation Below expectation Meets expectation Exceeds expectation Greatly exceeds expectation 57% 54% 50% 50% 44% 40% 33% 28% 24% 22% 21% 18% 17% Top 2 box N=164-254 (Excludes Not Applicable) • The aspects most likely to exceed expectations related to relationships with children (57%), partner (54%), parents (50%) and family (50%) • The aspects least likely to exceed expectations were career (17%), financial situation (18%), place in society (21%) and control over destiny (22%) 14
  • 15.
    Hopes for theFuture 1% 2% 3% 4% 5% 5% 6% 7% 8% 11% 12% 15% 15% 16% 16% 16% 18% 19% 36% 57% Move to the city Send my children to a private school Simplify my family life Reduce work hours Buy an investment property Move to the country Return to work Promotion at work Pursue more education Get married Volunteer/give back Find the right partner Change careers or start a business Pursue a hobby Pay off my home Make more time for my family Have children/ more children Buy a home Travel Financial security What are your THREE greatest hopes for the future? • Over half of respondents (57%) selected financial security as one of their three greatest hopes for the future – this was significantly higher than any other option • Other popular hopes for the future were to travel (36%), buy a home (19%) and have children/ more children (18%) N=257 Differences between Males and Females Males were more likely than females to want:- - Financial security - Pursue a hobby - Pay off home - Change careers or start a business Females were more likely than males to want:- - Return to work - Volunteer give back - Move to the country - Reduce work hours= sig. higher 15
  • 16.
    Feelings About theFuture 18% 48% 34% In general, how do you feel about the future? Pessimistic Average Optimistic Only a third of respondents (34%) felt optimistic about the future, with a further half (48%) feeling average and almost a fifth (18%) feeling pessimistic Groups most likely to be Optimistic  Self Employed 68%  Earning more than £30,000 per year 48%  Full Time Student 48%  Aged between 18 and 34 45%  With children 40%  Single, never married 42%  Females 38% Groups most likely to be Pessimistic  Registered Disabled 84%  Registered Unemployed 45%  Not Working 42%  Divorced/Separated/Widowed 29%  Earning less than £20,000 per year 25%  Males 25%  Aged between 35-54 22% 16
  • 17.
  • 18.
    Importance of LifeAspects Personal happiness (80%), family (79%), financial security (78%) and partner/spouse (78%) were the most likely areas to be rated very or extremely important N=207-255 (Excludes Not Applicable) 18 26% 33% 36% 43% 44% 48% 48% 64% 65% 73% 76% 78% 78% 79% 80% Sport Community Giving back/philanthropy Wealth Hobbies Career Education Friends Health and fitness Comfortable household Children Partner/ spouse Financial security Family Personal happiness How important are the following items in your life? Very/ Extremely important Sport (26%), community (33%) and giving back/philanthropy (36%) were the least likely to be rated very or extremely important
  • 19.
    Most Important LifeAspect 10% 11% 11% 20% 29% Health and fitness Partner/ spouse Personal happiness Children Family And what is the single most important thing in your life? (Top 5) • Family (29%) and children (20%) were rated significantly higher than any other area when it came to the most important thing in life • Personal happiness (11%), partner/spouse (11%) and health & fitness (10%) were also rated highly 19 = sig. higher Differences between Males and Females Females selected family and children more than males Males selected personal happiness and health & fitness more than females
  • 20.
    Allocation of Time 1.2 2.4 2.4 2.5 2.9 3.2 4.2 4.2 4.2 5.6 5.7 6.2 7.3 9.6 13.2 13.6 Volunteeractivities Shopping (for myself, family, home, gifts) Household maintenance Laundry Grocery shopping Exercising or playing sports Reading Cleaning Family Activities Socialising Cooking Personal hygiene / Grooming Hobbies/Personal activities Caring for children/kids activities Watching television Using the Internet (non-work related) On average, how many hours per week do you spend on the following activities? Number of hours per week Differences between Males and Females Females spent more time than males:- - Caring for children - Personal hygiene/Grooming - Cooking - Cleaning Males spent more time than females:- - Using the Internet - Hobbes/Personal activities - Exercising or playing sports 20 Differences between Age Groups - Under 35s spent more time socialising than older age groups - 35-54s spent more time caring for children and family activities than other age groups - Over 55s spent more time watching television and reading than younger age groups • On average, respondents spent the most time using the internet (13.6 hr/wk), watching television (13.2 hr/wk) and caring for children/kids activities (9.6 hr/wk)
  • 21.
    Allocation of anExtra Few Hours Per Week 4% 5% 9% 11% 14% 14% 18% 18% 18% 18% 28% 30% 32% 33% Watching television Working Reading magazines, books, journals Catching up with extended family Surfing the internet Playing with my children Completing everyday tasks & chores Giving back/volunteering Studying/learning Pursuing my hobby Catching up with friends Spending time with my partner Me time – doing things that I enjoy Exercising/personal fitness If you were given a few extra hours every week, how would you spend them? The most popular ways to spend a few extra hours per week were exercising/ personal fitness (33%), me time – doing things that I enjoy (32%) and spending time with my partner (30%) 21 Differences between Males and Females Females were more likely than males to spend their extra time:- - Catching up with friends - Playing with children - Catching up with extended family Males were more likely than females to spend their extra time:- - Pursuing a hobby - Studying/learning - Giving back/volunteering
  • 22.
  • 23.
    Personal Finance Situation 7% 30% 47% 17% Don'teven have enough to meet basic expenses Just meet your basic living expenses Meet your basic expenses with a little left over for extras Live comfortably with little financial worries How would you describe your own personal financial situation? Would you say you…. 23 • Almost two-thirds of respondents (63%) described their financial situation as comfortable with little financial worries (17%) or enough to meet basic expenses with a little left over for extras (47%) • A further third (30%) had enough to meet basic living expenses and only 7% did not have enough to meet basic expenses Most likely to have little financial worries  Retired 31%  Females 25%  Earning over £30,000 per year 24%  Aged 55+ 20%  Without children 19% Most likely to not be able to meet basic expenses  Registered unemployed 44%  Earning less than £20,000 per year 12%  Single, never married 11%  Aged between 18 and 34 11%  With children 8%
  • 24.
    24 10% 32% 38%16% 3% How has your personal finance situation changed compared with this time LAST YEAR? It is… 1 - A lot worse 2 - A little worse 3 - The same 4 - A little better 5 - A lot better Personal Finance Situation 6% 23% 38% 27% 6% How do you expect your personal finance situation to change over the NEXT 12 MONTHS? It will… 1 - Get a lot worse 2 - Get a little worse 3 - Not change 4 - Get a little better 5 - Get a lot better The groups most likely to feel their personal finance situation had got better (19%) were:- - Under 35s - Earning more than £30,000 - Employed FT/ Self Employed The groups most likely to feel their personal finance situation had got worse (43%) were:- - Over 55s - Registered Disabled - Unemployed/ Not Working The groups most likely to expect their personal finance situation to get better (33%) were:- - Under 35s - Earning more than £20,000 - Employed FT/ Self Employed The groups most likely to expect their personal finance situation to get worse (29%) were:- - Over 55s - Retired - Registered Disabled - Unemployed/ Not Working Top 2 box 19% Top 2 box 33%
  • 25.
    25 17% 11% 2% 4% 17% 15% 11% 10% 27% 28% 28% 17% 23% 22% 38% 35% 15% 24% 22% 33% In a yearfrom now I am sure that I will be financially better off In the last 12 months I have felt financially a lot worse off than before I plan ahead more than I used to when it comes to money I have made a conscious effort to spend less money recently Below are some statements other people have made about money matters. To what extent do you agree or disagree with the following statements. 1 - Disagree strongly 2 - Disagree slightly 3 - Neither agree nor disagree 4 - Agree slightly 5 - Agree strongly Attitudes to Money Matters Top 2 box 69% 60% 46% 39% • More than two-thirds (69%) of respondents agreed with the statement ‘I have made a conscious effort to spend less money recently’ • Six out 10 (60%) agreed with the statement ‘I plan ahead more than I used to when it comes to money’
  • 26.
    26 6% 7% 9% 9% 10% 10% 11% 15% 17% 17% 18% 24% 25% 31% 43% Childcare costs Cuts ingovernment benefits Mortgage costs Pay freeze Saving for a pension Insurance costs Fear of losing my job or having my working hours cut Rent costs Debt repayments Public transport costs Difficulties finding a job Food costs Motoring costs Lack of savings Utility costs (gas, electricity and water bills) What are your greatest financial worries at the moment? Please select up to 3 answer options. Financial Worries • Utility costs (43%), lack of savings (31%), motoring costs (25%) and food costs (24%) were the greatest financial worries at the moment
  • 27.
    27 37% 20% 19% 14% 5% 21% 21% 16% 13% 6% 9% 6% 3% 16% 19% 16% 19% 22% 14% 17% 12% 13% 23% 26% 31% 29% 26% 36% 32% 13% 17% 23% 23% 41% 46% 38% 53% I sometimes haveto use credit to pay my bills I sometimes have trouble keeping on top of my bills I often run short of cash before my next payday My family would help me out if I was ever struggling to make ends meet I am spending more on everyday essentials and less on treating myself than 12 months ago I am spending more on petrol / transport than I did 12 months ago I am spending more on supermarket shopping than I did 12 months ago I am paying more on my household bills including gas and electricity than I did 12 months ago To what extent do you agree or disagree with the following statements about household bills and managing your money. 1 - Disagree strongly 2 - Disagree slightly 3 - Neither agree nor disagree 4 - Agree slightly 5 - Agree strongly Household Bills and Managing Money 85% 74% 72% 70% 54% 49% 40% 25% Top 2 box • The majority of respondents (85%) agreed with the statement ‘I am paying more on my household bills including gas and electricity than I did 12 months ago’ • Three-quarters agreed with the statement ‘I am spending more on supermarket shopping than I did 12 months ago’ N=218-248 (Excludes Not Applicable)
  • 28.
    28 37% 63% No Yes Have you cutback on any expenditure over the last 12 months? Cutting back on Expenditure 7% 7% 22% 22% 22% 23% 25% 26% 30% 43% 59% 62% 63% 70% Broadband Pet care costs Electric and heating costs Mobile phone tariff Satellite or cable TV Gym membership Insurance products Driving/ motoring costs Toiletries and personal grooming Food costs Days trips with family/ friends Holidays Evenings out with family/ friends Clothing Which of the following have you cut back on in the last 12 months? • Almost two-thirds (63%) had cut back on expenditure in the last 12 months • The most likely expenditure to cut back on was clothing (70%), evenings out with family/friends (63%) and holidays (62%)
  • 29.
    29 6% 9% 15% 24% 27% 37% 39% 42% 44% 47% 58% 62% 71% 72% Installed a pre-paymentenergy meter Given up smoking Cancelled gym membership Booked holidays earlier to benefit from discounts Switched energy providers to get the best deal on gas or electric Cut back on my use of credit Shopped at a local market Walked/cycled instead of paying for car/bus/train Switched to a cheaper supermarket Used coupon websites (like Groupon or Living Social) Switched from branded to own-brand products Used online discount codes Bought clothes and other goods in the sales Shopped online for cheaper deals instead of in store Have you done any of the following to SAVE MONEY over the last 12 months? Saving Money • The most popular ways to save money were shopping online for cheaper deals (72%), buying clothes and other goods in the sales (71%) and using online discount codes (62%)
  • 30.
    30 5% 7% 9% 9% 16% 19% 21% 21% 22% 32% 50% 53% Rented out myparking space Taken in a lodger Claimed back PPI (Payment Protection Insurance) Received an incentive for referring family/friends to a company Used a credit card to gain cash back on purchases Moved my savings into a tax free ISA Traded my old mobile phone in for cash (e.g. Envirofone or Mazuma Mobile) Investigated what extra government benefits I/my family were entitled to Shopped online through cash back websites (e.g. Quidco or TopCashBack) Taken on extra work, overtime or a second job Sold some of my existing possessions (e.g. on eBay or at a car boot sale) Traded in retailer loyalty points Have you done any of the following to BOOST YOUR INCOME over the past 12 months? Boosting Income • The most popular ways to boost income were trading in retailer loyalty points (53%), selling existing possessions (50%) and taking on extra work or a second job (32%)
  • 31.
    31 Thank you –we hope you found the results of this survey interesting and useful. For more information about this survey or to discuss the Robust Insight Consumer Panel in more detail please contact Scott Owens on 078252 69235 or email us info@robust- insight.co.uk Robust Insight | Website: www.robust-insight.co.uk | Telephone: 078252 69235 | Email: [email protected]