A poll of 2,000 adults found 30 per cent admit they don’t know where to start when it comes to filing taxes and 23 per cent haven’t got a clue about basic life admin like understanding contracts
The leading ‘adulting’ challenges Brits struggle with most include repairing household appliances, mastering a toolbox – and even preparing meals from scratch. Research involving 2,000 adults revealed 30% are completely lost when it comes to filling in tax returns and 23% are baffled by dealing with contracts.
Two thirds feel their education failed to provide them with the necessary skills they needed for dealing with ‘adult’ responsibilities, such as being able to negotiate properly and understanding the impact of interest rates. More specifically, the research commissioned by Compare the Market discovered 68% of younger adults believer their grandparents were better at ‘adulting’ then them.
When questioned about which contemporary ‘adulting’ responsibilities they find most tedious, 26% of Gen Z considered responding to WhatsApp messages the biggest burden and 25% confessed that keeping up with the endless stream of TikToks from friends is just as exhausting.
This was followed by managing subscriptions and actually preparing food rather than ordering through a delivery app.
Charlie Evans, money expert at the comparison site, said: “There’s a lot of uncertainty when it comes to adulthood and taking on ‘adult’ tasks for the first time can feel overwhelming, especially with the pressures of today’s modern society.
“When making big decisions such as how to budget for the month or which broadband provider to choose, there’s no one-size fits all as every circumstance is different.”
The research also found that 59% of Gen Zs still depend on their parents to cover the occasional bills – including mobile phone bills and rent or mortgage payments. Meanwhile, others are getting mum and dad to contribute towards food shopping and even travel insurance.
What’s more is 24% of Gen Z confessed they had no idea electricity bills needed paying, whilst 31% assumed water was free until they reached adulthood.
As such, 58% of respondents wished they had been shown how to apply for a mortgage, whether at school or at home. And 56% reckoned they could have benefited from learning about taking out insurance before reaching adulthood.
Charlie Evans from Compare the Market added: “We make adulting simples, making comparison feel effortless and giving you time back to live life to the fullest.”
TOP 10 ‘ADULTING’ TASKS BRITS FEEL MOST UNDEREQUIPPED FOR:
- Being able to fix appliances and knowing their way around a toolbox
- Filing taxes
- Cooking from scratch
- Understanding life admin such as contracts
- Assembling flat pack furniture
- Sorting bills
- Budgeting and saving
- Navigating without relying on tech / online maps
- Understanding Interest rates
- Negotiating rent, job offers, or bills