Why late-night money decisions leave Us ‘sleepwalking’ into difficulty?

Imagine this: it’s the quiet hours of the night, and 59% of us find ourselves facing major financial decisions when our fatigue makes it challenging to concentrate. It’s not difficult to understand why – after a long day of work, tending to family, preparing dinner, perhaps squeezing in some extra work or hitting the gym, and, of course, catching up on our favourite crime dramas or leisure activities, our minds are hardly at their sharpest. We’re practically sleepwalking through our financial dilemmas!

Now, amidst the juggling act of these essential tasks, you might question whether this is the ideal moment to dive into financial matters and life admin. It’s like trying to read a bedtime story to your finances, hoping they’ll drift off to sleep peacefully.

The research, from Wise, highlights a pressing need, with a third (31%) of respondents yearning for financial information that doesn’t require a degree in financial jargon to comprehend, especially when our minds aren’t at their sharpest. We need financial advice that’s so clear, it’s like a lullaby for our exhausted brains.

Ryan spoke to personal finance expert Kia Commodore.

Photo by Colin Watts on Unsplash