Brits have a flair for flaunting their savings, with a recent study showing that one-third of adults in the UK enjoy boasting about the bargains they’ve scored. The study, which surveyed 2,000 adults, revealed that a significant number of Brits take pleasure in showcasing the savings they’ve made on big-ticket items such as smart home technology, cars, and designer products. For 52 per cent of respondents, these thrifty finds evoke feelings of happiness and pride, while 35 per cent admit that the highlight of saving on a purchase is sharing the news with partners, friends, and colleagues.
Intriguingly, negotiating better prices on bills, discovering travel deals, and capitalising on bulk buys were among the top purchases that respondents were eager to brag about. The research, commissioned by connected smart home brand Hive, in partnership with solar subscription provider Sunsave, aimed to help homeowners cut down on their energy bills through solar technology. Hive’s Director of EV and Solar, Susan Wells, highlighted how Brits revel in securing great deals on their planned purchases, especially when these savings come with a positive environmental impact, aligning with the company’s ethos of providing savvy, smart, and sustainable savings.
The study unearthed a competitive streak among over half of the surveyed individuals, with more than one in ten finding enjoyment in ‘keeping up with the Joneses’ by informing neighbours about their savvy savings. Particularly noteworthy was the fervour for financial savvy displayed by younger generations, with 71 per cent of Gen Z and Millennials striving to outshine their peers in snagging favourable deals. Interestingly, Londoners emerged as the keenest sharers of their financial triumphs, with 53 per cent of them relishing in sharing their wins, compared to 38 per cent of Scots and 36 per cent of individuals in Wales, who were relatively more discreet about their money-saving achievements.
The desire to showcase smart savings reflects a broader trend in consumer behaviour, where securing a good deal isn’t just about personal gain but also about social validation and recognition. The study sheds light on how Brits navigate the balancing act between prudent spending and the desire to compete and excel in their financial achievements. Whether it’s through securing discounts on everyday expenses or making significant savings on special purchases, the art of saving has become a means of not just accumulating wealth but also establishing status and camaraderie among peers.