Brits spend more than £4,000 a year outsourcing tasks and services such as cleaning the house, getting their tyres changed – and getting their nails done. The study of 2,000 adults found blow dries (42 percent), takeaway coffees (49 percent), and washing the car (37 percent) were other popular tasks they chose to splash out on.
But while 58 percent believe they don’t have the skills to do these things themselves, a third said a lack of time led to them paying others to do it instead – while 24 percent simply don’t want to do the task.
Andrew Clayton, from Capital One UK, which is launching a series of tutorials to help Brits cut back on their spending and outgoings, said: “There are so many ways to cut down costs but sometimes habits can be hard to shift, which is apparent with these research findings.
“As part of our mission to do “One Good Thing”, we’ve teamed up with a group of savvy spenders to launch our “Save Per View TV” content series.
“It sees four thrifty content creators lifting the lid on simple skills that could help to save people up to £1,600 a year – from delicious “fake-away” recipes, to handy DIY hacks, and energy-boosting home workouts.”
The study also found 45 percent are concerned about how much they spend on different services – with this worry increasing for two-thirds (67 percent) since inflation began to rise.
And 73 percent have noticed a considerable rise in how much everything costs, with three in ten claiming this has had a significant impact on their everyday life.
Financial worries are a weekly thing for 20 percent, while another 28 percent admit they have it on their minds daily.
As a result, 30 percent have reined in their spending – but four in ten said this has had a negative impact on their wellbeing.
And despite trying to cut back on their spending, 24 percent were not successful.
However, it has encouraged 63 percent to start doing some of the things themselves, rather than paying someone else to do them.
House maintenance (44 percent), beauty treatments (36 percent), and decorating (28 percent) are among the things they have started doing themselves.
And for those who haven’t yet started to take on certain jobs themselves, home DIY tasks (32 percent), decorating (29 percent), and basic car maintenance (27 percent) were the things they’d most like to turn their hands to.
The study, carried out via OnePoll, found two-thirds are keen to “DIY” to help save them money, while 44 percent reckon it will be more satisfying to do it themselves.
And one in three (32 percent) are simply eager to learn a new skill.
Financial advisor and host of the “Mr MoneyJar Show” podcast, Timi Merriman-Johnson, is working with Capital One to share his top tips for navigating the cost-of-living crisis.
Timi Merriman-Johnson said: “During tough economic times, it’s all about adapting and living as well as possible.
“We all know that outsourcing things is easier, but there are lots of benefits to reap from occasionally doing these tasks yourself.
“Becoming more conscious of your spending, and applying little tweaks here and there – such as buying own-brand items, turning the thermostat down by a few degrees, and upskilling daily tasks – will help to keep costs down, and will add up over time.
“It’s also good practice to check-in with your money more frequently so you can keep on top of expenditure, lessen money worries, and tweak your budget to reflect recent spending.”