Wild survey from a bank with no form of budgeting available within app or online, yet do give a phone number to do a budget? Seems a waste of man power for these types of calls.
You really don’t need an app to budget. Seems strange to basically ignore the problem and just focus on the bank which here, is pretty irrelevant.
I don’t think the bank is ‘irrelevant’ given this is essentially their press release. Their marketing team has discovered the ‘problem’, one that thankfully they have a whole new program to fix.
Maybe irrelevant was the wrong word, but focusing on a banking app of all things here felt like a distraction from what the article is really about
What problem?
The bank (Santander) launched a survey of 2000 people, about budgeting and finances.
They don’t offer anything relative to support budgeting in the grand scheme.
It’s what I’d expect monzo to survey about as they offer multiple ways to budget (Pots, Trends, Notifications when budgets are hit). Not a bank asking questions about something they could offer but haven’t bothered.
The financial programme will probably cost millions ongoing.
An app development to bring it to 2025, away from 2005, probably costs less, and they can simply promote it for free within the app, along with the tools to create a budget.
So, yes, the bank is IMO a major part here (you might choose to ignore their role in the financial industry, anyone can do a survey of anything).
Agree to disagree. Budgeting, along with the other things mentioned, will never be fixed simply because some apps have budgeting tools. I have experienced many Banks’s budgeting tools and they just aren’t useful for me. You then also have the educational aspect of this which some text in a banking app likely won’t help with. So it is good for Santander to do stuff other than include something in app and call it a day.
And Santander’s app is hardly from 2005.
And it seems to me you think surveys should only be used for a company to advertise their own features (going on about how this should be a Monzo survey because they have pots etc). That just isn’t the point of surveys.
What’s the point of that article? (Other than the 96 adverts)
We did a survey, people are worried about money, here’s some stats from it?
Okay great. Now what?
That young people are worried about money and don’t think the educational received was helpful. Therefore, banks, such as Santander, know as a fact they need to tackle this. Santander was used this to launch a programme to help with these issues. Also makes it clear people are using untrustworthy sources for budgeting advice
God forbid someone has a different opinion to yourself…
It’s ok to have opinions, and it’s ok for yours to be wrong.
Move along, you don’t need to debate to death every single thing that doesn’t align to your values.
I’m having a discussion on a discussion forum. I’m not going to move along just because you think I’m wrong 
Personally, I think young people are generally taught the skills to budget at school, but as they aren’t needed for a few years afterwards, they forget these skills or don’t have the maths confidence to apply what they know to the world of budgeting. Educating people when they actually need it and giving people confidence would be helpful
And as a young person and traineee teacher, some money skills are taught in PSHE and the skills are taught throughout maths lessons. Its just people might not know how to apply these skills to their own finances.
Im not saying it is perfect and some teachers will say nonsense during PSHE. Hopefully, surveys like this will help showcase that the education can be improved.
The independent can’t afford to fill its pages with journalism and hasn’t been able to for a long time. Republishing corporate press releases is its day to day.
As much as I don’t really have an opinion on the limit itself… to suggest it’s limiting growth is a little far fetched.
Sounds like they were casting around for a response.
We have to say something; this is something, we’ll say that.
Don’t most people use their phones to pay these days though? In that case the contactless limit is irrelevant.
Many do, but out and about I see more people using their cards than their phones.