Clocks going back: Spending the hour doing financial admin can boost savings

Just an hour spent on financial admin could boost your savings by thousands says Canaccord Wealth

• 38% of Brits spend more time worrying about financial admin than doing it
• Almost a third (31%) avoid financial tasks assuming they are too complex
• New research from Canaccord Wealth reveals procrastinating Brits could gain thousands of pounds if they spent just an hour getting their finances in order

As the clocks go back on the 26th October, Canaccord Wealth is encouraging Brits to take advantage of the extra hour to invest in something truly valuable: their financial future.

New research from the wealth manager reveals that skewed perceptions of the time and effort it takes to tackle our financial admin is causing people to neglect it – with 38% of Brits admitting they spend more time worrying about money-related admin than actually getting it done.

However, findings show that it’s actually much quicker and easier than people expect, and with an extra hour granted this weekend, now provides the perfect opportunity for people to get their finances in check – as just 60 minutes could make people thousands of pounds better off.

The perils of procrastination

Canaccord Wealth’s research finds that almost a third (31%) of people avoid financial tasks because they assume they’re too complex, and 29% believe they’ll be time consuming – causing people to delay essential financial tasks by a staggering 323 hours on average.*

But it’s a case of perception versus reality as more than half (52%) of people who tackle their financial to-do lists say tasks were easier than expected, and half (50%) say they were quicker.

Mana Jhaveri, at behavioral insight specialist Cowry Consulting comments:

“Procrastination is often a symptom of being overwhelmed. The challenge with financial decisions isn’t a lack of information. It is, in fact, the opposite – an excess of information. Therefore, when faced with complex financial choices, we default to inaction. This makes us put off essential tasks, like retirement planning or investing, because the payoff feels too far away. Working with an expert helps bridge this gap, translating distant goals into actionable, immediate steps, making planning feel not just possible, but inevitable.”

The financial power of just one hour

Procrastinating doesn’t just waste time, it’s also costing UK households thousands. Nearly two fifths, 39%, of people say they know they don’t spend enough time on their finances but plan to do more – and Canaccord finds that a single hour spent with a financial adviser could boost people’s savings by tens or even hundreds of thousands of pounds.**

A third (32%) of people worry everyday they haven’t sorted their finances, but when asked what they’d do with an extra hour a day just 8% say financial planning – falling far behind the 33% who would spend time with family, 24% who’d choose hobbies or exercise – and even the 22% who would opt to take a nap. However, Canaccord is urging people to rethink their priorities, as just one short session spent on financial admin could create significant financial growth in the long run.

David Goodfellow, Head of Wealth Planning at Canaccord Wealth said: “People often assume that taking control of their finances will be arduous, so they put it off for days, months – or even years. But the reality is that just one focused hour with a financial planning expert can make a huge difference. 

“With the clocks going back, it’s perhaps time for a little less overthinking and a little more action. We’re encouraging people to use that ‘extra’ hour to take just one small step, such as booking a meeting with an adviser, reviewing their current pension contributions, or looking at their investments. 

“Time is one of our most valuable assets – and using this more effectively could mean the difference between paying for your child’s university fees or adding thousands to your retirement fund.” 

*Those who put off wealth management and financial planning tasks.

** See methodology.

Methodology 

Consumer research was conducted by Censuswide on behalf of Canaccord from 25th June 2025 to 3rd July 2025. A nationally representative sample of 2345 adults across the UK participated in the survey, including a sample of 500 high-net-worth individuals (HNWIs).

** In a single appointment with a financial adviser, an individual could set up a ‘60/40’ investment portfolio (medium risk). Figures show the difference in savings between a base-rate linked savings account vs a ‘60/40’ portfolio from 1994 to 2024.

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