Managing money wisely has become more important than ever for UK households.
A recent Spring survey reveals that adults could save nearly £600 every year simply by refusing to take part in social events they don’t actually want to attend.
These savings could make a huge difference for families and individuals trying to balance their budgets in the face of rising living costs.
Let’s explore the findings of the study, the types of events that drain pockets, and why saying “no” can protect both your finances and peace of mind.
How Social Pressure Impacts Your Wallet
Many adults across the UK feel obligated to attend social gatherings, even when they would prefer not to.
According to the research, the average person spends £591 annually on events they do not genuinely enjoy.
These are often obligations—social commitments that are attended out of pressure rather than personal desire.
The survey of 2,000 adults revealed that almost two in three respondents admitted to feeling pressured into costly social arrangements. These include:
- Workplace functions like meals and after-work drinks
- Restaurant outings with groups of friends
- Festive celebrations, particularly around Christmas
- Weddings and related ceremonies
- Birthday parties and milestone events
Breakdown of Unwanted Spending
The study highlights specific categories where this unnecessary spending happens:
- Work-related meals and drinks: 25% of unwanted commitments
- Group restaurant visits: 21%
- Christmas celebrations: 19%
- Weddings: 18%
- Birthday gatherings: 17%
These percentages reveal how common it is for people to spend beyond their comfort level just to keep up appearances or avoid awkward refusals.
The Hidden Cost of Obligatory Events
For many, these unwanted commitments come at a steep financial cost. Nearly half of those surveyed admitted to dipping into their savings accounts to cover such occasions.
On average, participants withdrew around £260 for a single event—a significant sum when multiplied across multiple gatherings in a year.
This reliance on savings not only reduces long-term financial security but also prevents individuals from working toward bigger goals such as buying a home, starting a family, or saving for travel.
Expert Opinions on Financial Independence
Derek Sprawling, Head of Money at Spring
Derek emphasized the importance of empowering individuals to prioritize financial goals without guilt.
He explained that unnecessary social spending often prevents people from focusing on what truly matters—whether that is saving for a property, planning family life, or building financial independence.
He stressed the need for people to feel confident saying no when expenses do not align with personal priorities.
Nick Wiles, CEO of PayPoint
Nick highlighted how financial services are being made more accessible across communities.
He explained that Lloyds customers can now make cash deposits at more than 30,000 PayPoint locations, ensuring easier access to banking facilities without extra stress.
This step adds convenience for households looking to manage money responsibly while avoiding wasteful spending.
Protecting Your Savings
Another important reminder for UK households is that eligible savings are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS).
This protection provides peace of mind for individuals working to build their savings despite the temptation to overspend on unnecessary social events.
How Spring Supports Smart Saving
Spring, the financial platform behind this study, offers innovative solutions to help people save money with ease.
Unlike traditional savings methods, Spring runs alongside your current account, quietly building your savings in the background.
Some of its key benefits include:
- Seamless savings without complicated processes
- Freedom to withdraw anytime with no penalties or hidden fees
- Flexibility to spend on anything—from daily treats to long-term goals
Their philosophy is clear: saving isn’t just for tomorrow—it’s also about enjoying today responsibly.
Why Saying “No” Can Be Financially Empowering
Saying “no” is often difficult because of social expectations.
However, this study proves that learning to politely decline invitations that don’t bring joy can lead to substantial financial freedom.
By reducing unnecessary expenses, households can:
- Strengthen emergency funds
- Avoid dipping into savings
- Build financial security for future goals
- Reduce stress related to money management
The study sheds light on an important truth: UK households could save nearly £600 annually by rejecting social obligations that don’t align with their interests or priorities.
These funds could be redirected towards savings, investments, or meaningful personal goals.
As Derek Sprawling from Spring advises, financial freedom starts with confidence—the confidence to say no without guilt.
With tools like Spring and accessible services from providers like PayPoint, individuals have more support than ever to manage their money wisely.
In the end, true financial well-being is not about keeping up with every social expectation but about choosing what aligns with your values and future plans.
Frequently Asked Questions
On average, households could save around £600 per year by avoiding unwanted gatherings such as work parties, group dinners, or weddings.
The biggest expenses come from work-related meals (25%), group restaurant outings (21%), and Christmas celebrations (19%), followed by weddings and birthdays.
Yes. In the UK, eligible savings are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS), ensuring financial security.
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