What Does £100 Mean To The Average Brit?
While for many it may be considered the biggest day of their lives, winning just £100 is as thrilling, if not more, as walking down the aisle for almost a quarter (23%) of Brits, according to a new study of 3,000, released today.
Brits said that winning as little as £100 beats many of the experiences they consider ‘priceless’, such as witnessing the birth of their child (10%), buying their first home (10%) or meeting their favourite celebrity (24%).
The survey, conducted for Plenty household towel was carried out on the day the Government announced their spending cuts, and indicates that it’s the small windfalls that mean the most.
In fact, for almost one fifth (18%) of the respondents, winning just £10 would make their day, or even their week.
But how can as little as £100 generate such a thrill? While it may shock some (especially George Osborne) that a relatively small amount of money can compare to such momentous occasions, the research also found that more than half of us (58%) have less than £1,000 in our bank accounts.
In Northern Ireland and Wales this figure jumps to nearly three quarters (72%) so it’s no wonder that a £100 increase in our bank balance can have such an impact.
Spending Psychologist Donna Dawson comments; "It is true that ‘money cannot buy happiness’, but little wins can help to boost our morale. Psychologically, it makes us feel as though the universe has finally rewarded us and this sudden ‘good luck’ helps us to put up with the daily grind with a better attitude.
"While so-called ‘happy’ life-events such as marriage, childbirth and moving into our first home all have a degree of negative stress attached to them, winning a sum of money without any strings attached is a wholly positive experience."
The survey also found that the figure we consider to be life changing isn’t as high as some might assume. Seven out of ten said £50,000 or less would be enough to change their lives and for one fifth a very conservative £10,000 would do the job.
Five fast financial facts:
1. Three times more men than women would be happier winning £100 compared to getting married
2. One in three would be just as happy, if not more, winning £1,000 than witnessing the birth of their child
3. On in five (20%) under 25s would be happier winning £100 than getting their first job
4. Nearly 50% of women would be just as happy, if not more, to win £100 than to lose their virginity
5. While 80% of us suffer financial worries, seven out of ten (70%) think their wealth is ‘middle of the road’
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