How long does it take you to make those all-important decisions?

10 April 2015

cashIt seems we’re a nation of ditherers. While we take less than two minutes to decide what we want from our friendly local barkeep, making bigger decisions on how to spend or save our money takes us a little longer, with bigger purchases like a new car taking over two weeks’ worth of thinking time.

The survey of 2,000 people commissioned by Skipton Building Society also found that people had missed out on a bargain, extra money or even a job because they took too long making a decision.

Stacey Stothard, from Skipton Building Society, which commissioned the research, said: "People who don't over think those day-to-day smaller decisions, but consciously allocate themselves time and space to think through the important ones enjoy a balance that many overlook.

"While some seem happy to make snap decisions within seconds, most like to take their time and consider their options, especially on more important decisions.”

However, taking too long to consider their options means almost two thirds have ended up having to rush a decision. A sizeable 62% have taken so long to decide, they missed a bargain or cheap deal, a quarter have lost out on tickets to an event and 22% have missed out on extra money.

Ms Stothard added: "It might not matter if you take an age deciding what to have for lunch, but choosing how much money you want to put into savings each month or your pension contributions will directly affect your and your family's financial future."

So how do you size up against the surveyed decision making times below? At least you’re more likely to be wed to your energy supplier than your significant other though eh…

Decision times

What drink to order in a pub or bar - 1 minute 53 seconds

What to have for lunch - 3 minutes 13 seconds

What to have for dinner - 4 minutes 55 seconds

What outfit to wear that day - 5 minutes 37 seconds

Which bottle of wine to buy - 5 minutes 40 seconds

What film to watch at the cinema - 6 minutes 25 seconds

How much money to put into savings - 7 minutes 52 seconds

Where to go on a date - 8 minutes 58 seconds

Whether to buy a new item of clothing or outfit - 10 minutes 8 seconds

How to spend your spare income - 4 days 2 hours

Who to vote for in an election - 5 days 18 hours

Whether to increase your monthly pension contributions - 5 days 19 hours

Where to go on holiday - 7 days 13 hours

Whether to get married - 8 days 12 hours

Whether to have children - 8 days 12 hours

Whether to switch your gas/electric supplier - 8 days 13 hours

Whether to go on holiday - 9 days 10 hours

What to buy your spouse/partner for their birthday - 10 days 6 hours

What to buy your spouse/partner for Christmas - 10 days 11 hours

Which school to send your children to - 11 days 1 hour

Which car to buy - 15 days 5 hours

TOPICS:   Banking

1 comment

  • Jeremy B.
    Time to decide where to go on holiday - 7 days 13 hours Time to decide whether to go on holiday - 9 days 10 hours Some mistake here?

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