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January 25 2019

Zopa reveals the nation’s most loved and hated expenses

Kathryn Gaw Industry News, News Clare Gambardella, Zopa

ZOPA, the peer-to-peer consumer lender, has found that the BBC TV licence fee has topped the nation’s most-hated list of payments.

The firm, which recently rebranded itself as the FeelGood Money company, found that seven in 10 Brits said they have to pay for things that make them feel bad.

The TV licence topped the list, with 34 per cent of the votes, followed by delivery charges (31 per cent), electricity bills (27 per cent) and overdraft charges (26 per cent).

Read more: Zopa: P2P investors outperformed the FTSE 100 in 2018

The average UK adult spends £270 a month on necessities they don’t like paying for, Zopa said.

On the other hand, the average Brit spends £95 a month on things that make them feel good. Spending money on family and holidays topped the list, with 38 per cent of the votes each, followed by meals out, with 37 per cent.

Zopa, which is readying to launch a digital bank, also found that the government was the least popular creditor, followed by insurance companies and estate agents.

Read more: Rapper Big Narstie named among celebrities joining Zopa hotline for a day

“Life is full of moments where you reach for your wallet and either feel happy, or potentially a bit resentful,” said Clare Gambardella, chief customer officer at Zopa.

“As the FeelGood Money company, we’re all about helping our customers to feel better about their money and while we can’t stop people having to make payments that they would rather not, we can offer fairer, easier financial products to put people in control of their finances.”

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