Rising cost of living places a spotlight on numeracy confidence


Millions of Brits are burying their head in the sand over the rising cost of living because they lack the confidence in numbers to work things out...

New research commissioned by KPMG UK finds that two fifths of Brits two fifths of Brits (40%) are avoiding thinking about the rise in the cost of living, with nearly seven in 10 of those feeling there is little they can do, or that it’s simply out of their control. Over two thirds (69%) say their lack of mathematical ability hasn’t been a massive problem for them in the past – until now, as the cost of living crisis bites.

The survey of 3,000 adults was conducted ahead of the fifth annual National Numeracy Day - Wednesday 18 May – by the charity National Numeracy and founding supporter KPMG.

While half of those surveyed say they confidently know their total monthly outgoings, nearly the same proportion (45%) say they rely either entirely or in part on someone else to take care of the bills for them. The recent price hikes were also found to have left 45 per cent struggling to budget, 37 per cent baffled as to how much things should cost any more, and 57 per cent looking for ways to stretch their cash further.

Over a third (36%) of people admitted that it is just too stressful to even begin to think about how they’re going to pay the bills.

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