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Brits left ‘overwhelmed’ and ‘stressed’ by demands of Modern Money Management

11 January 2017

The average UK adult is managing over 30 personal finance related contracts and accounts

  • Over a fifth (21%) of adults feel like they’ve lost track of contracts and accounts;
  • People spend two hours a week managing their personal affairs and trying to find forgotten log in details;
  • 31% say having so many accounts, passwords and contracts is stressful;
  • 28% liken managing their personal affairs to holding down a full time job.  

New research* from Money has found that, on average, people now manage over 30 accounts across all aspects of their lives, from online banking and shopping, to gym memberships and subscriptions for home entertainment.  And almost a third of us are stressed out by trying to keep track of them all.

The survey of 2,000 UK adults looked into how people manage their multiple contracts and accounts. Over a third (34%) confessed to using just a handful of passwords to cover everything while 54% said they have to resort to keeping a written note of their passwords and PINs. A quarter admitted to relying on the ‘Forgotten Password’ button to access their accounts.

The survey also revealed that:

  • People spend on average two hours a week managing their personal affairs and trying to find and remember account details and passwords;
  • 38% of those questioned said they have no system to keep track of their online personal affairs;
  • 8% spend over five hours a week managing their contracts and accounts;
  • 27% said they feel overwhelmed by the number of accounts and passwords they have to manage;
  • 31% said they find it stressful having so many accounts, passwords and contracts;
  • 21% of those surveyed felt like they’ve lost track of contracts and accounts;
  • 28% likened managing their personal affairs to a full time job.     

Type of personal or money-related account

Average number of accounts held

Utilities and home services including gas, electric, water, council tax, TV licence, broadband and phone connections


Online shopping accounts  


Smartphone apps requiring log in details


Loyalty card schemes


Savings and loan accounts


Social media and webmail accounts


Insurance policies (e.g. car, home, life, pet, travel, etc.)


Credit and store cards


Entertainment and lifestyle (e.g. Netflix, Amazon Prime, iTunes, etc.


Music streaming and cloud storage accounts including Spotify, Google Play, Deezer, Microsoft OneDrive


Online/mobile wallet accounts (e.g. PayPal, Paym, ApplePay, Ping It, Zapp, Google Wallet


Sporting memberships including gym memberships, Strava or Garmin Connect, etc.


Other memberships and subscriptions including magazine and newspaper subscriptions, library card, wine club, etc.


Matt Sanders, head of money at, said: “From our research it’s clear that many people feel that they are drowning under the weight of managing their personal and money-related affairs. While the move to online account management has made things like entertainment and banking much more accessible, it has significantly increased the number of accounts we all hold and the log-ins, passwords and monthly payments we have to remember.        

“New technology has also presented a range of opportunities for cybercriminals - scamming people out of their personal details and money through increasingly sophisticated means. One in ten people who took part in our survey said that they had an online account hacked, while 12% said they had been a victim of a financial fraud. This means that it’s essential that you make the time to manage both your offline and online accounts to ensure that your personal data is safe and secure.”

Matt Sanders continued: “There are some simple precautions you can take to protect against cybercriminals.  First off, always password or PIN protect your PC, smartphone, laptop and other mobile devices.  Choose strong passwords and PINs and avoid using the same ones for all your accounts and payment cards.  Never use same passwords for social media sites and online banking.  If you feel you must write down your passwords and PINs encrypt them so only you can understand them.  Always log-off when you complete an online transaction.  

“Regularly check financial statements, such as your bank or credit card statement, and be on the lookout for unusual or unauthorised transactions or charges from subscriptions you’ve forgotten to cancel. Generally speaking, it’s worth closing old accounts that you no-longer need as this will not only help guard against fraud, but may also help your credit score.”

See's dedicated guide page for more information on about how to protect yourself against financial fraud.

- ENDS -

Notes to editors:

*On 23 September 2016, Bilendi conducted an online survey among 2,000 randomly selected British adults who are Maximiles UK panelists. The margin of error-which measures sampling variability-is +/- 2.2%. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding.