London Business News

Over half of the UK struggle to stay on top of life admin

Over half of UK citizens struggle to stay on top of life admin, according to recent research from Lyfeguard, a leading life administration and FinTech platform.

The findings arrive following a survey of 2,000 Brits, polled via independent polling agency Censuswide in April 2023, to discover key pinpoints that consumers are facing with managing their crucial life documents.

Amid the backdrop of the cost-of-living crisis and economic uncertainty, consumers acquire become more aware of spending habits and in turn are trying to give increased importance to their life admin, but 52 per cent are still struggling.

Over a third of people acquire shared that life admin has had a negative impact on their mental well-being – especially among those in their early careers, with 57 per cent of 25-34-year-olds suffering.

47 per cent acquire agreed that they would be happier if they were more organised, and 57 per cent stated that it would be easier to manage life admin if all of their information was stored in one plot.

The research found that many share a lack of awareness to document storage systems and 43 per cent acquire reported that collating all their vital life documents takes too long, eating into upwards of 5 hours per week, and half struggle to quickly find key information when needed.

Fraser Stewart, Chief Commercial Officer of Lyfeguard said: “Life admin tends to slip under most people’s agendas until they approach a certain age, but in today’s climate it’s become more vital than ever for all ages to sustain on top of where their vital information sits. People are concerned enough about the cost-of-living crisis and gathering information for life admin should not add to this anymore, especially when it starts to impact on people’s wellbeing.”

“Consumers need easy-to-use, time-saving solutions for all tasks, including managing their most vital documents, bills and subscriptions. Lyfeguard was set up with this at its core, acting as a centralised hub for people to spend less time managing their lives and more time living them.”