Survey: 25% of Brits know pop culture, not savings

A new survey reveals that one in four Brits know more about pop culture than their savings accounts. The poll of 2,000 adults showed that many can easily name the Premier League top scorer and list Taylor Swift albums, but lack knowledge about their own finances. About 44% of those surveyed feel they need to improve their financial knowledge. A third do not know if they have good interest rates on their savings. Additionally, 20% have multiple accounts that they find hard to manage. To help people take charge of their finances, Skipton Building Society and Bread Ahead bakery launched an initiative to promote ISAs, or Individual Savings Accounts. They offered free buns in London to encourage people to review their savings. Financial influencer Abigail Foster emphasized the importance of checking and consolidating accounts for better rates. The survey also found that savings are the top area people want to improve. Many haven’t looked at their finances in over a year. A significant number are motivated to take action if they believe they can earn better interest or feel more in control. Notably, 39% of respondents hold multiple ISAs, but only a quarter frequently check their rates. Fewer know they can transfer ISAs to potentially earn more interest. The head of savings at Skipton Building Society noted that reviewing accounts can help people make their savings work harder for them. The survey results suggest that many people are unaware of simple steps they can take to improve their financial situation. It is a timely reminder, especially during ISA season, to encourage individuals to take a closer look at their savings.