Tag: Hitachi Personal Finance

Workers give over 1,000 unpaid hours a year to their employers

 On average, we spend 42 days a year working outside their contracted hours  

Workers will sacrifice five years over their working life by starting early and finishing late 

Millions of British workers give up more than a month of time each year by working additional unpaid hours, totalling five years over their working life, new research has revealed.

In a poll conducted by Hitachi Personal Finance for this year’s National Work Life Week, data reveals exactly how much time Brits are spending working past their contracted hours and what else the nation could be doing with this time.  

In total, the figures show that Brits are working a whopping 1,834 days – or five years – unpaid across their working life, just by starting work early and finishing late. That’s an extra 42 days each year. 

The research revealed that nearly half (49%) of British people start work early each day and 48% admit to working late every day. 

Looking more closely at those who are commencing work before their official start time, a third (32%) are working an extra 147 days in their lifetime by getting to the office or logging on at home 20 minutes early each day.

Additionally, 15% of Brits are working an extra 330 days – that’s nearly a whole year – by regularly starting work 45 minutes before their shift starts.  

What’s more, 2% are tallying up a huge one year and two months’ worth of overtime by starting work an hour earlier than they are contracted to. In total, this means that collectively Brits are losing 917 days on unpaid work across their working lifetime, just by beginning their working day prematurely on a regular basis.  

And for those working after their shift ends, three in ten Brits (30%) are spending a further 147 days undertaking work in their lifetime, finishing late by 20 minutes each day, and 14% are working an extra 330 days in their lifetime by concluding work 45 minutes after they’re supposed to.  

Even more shockingly, 5% of Brits rack up an extra one year two months overtime in their lifetime by logging off an hour or more after they should be finishing work. Overall, this means that Brits are putting in an extra two and a half years work in their lifetime, just by continuing to work outside of their contracted hours.  

More than three in five (61%) admit they would rather have a better work/life balance, which is being achieved in some respects, with increased home working meaning commuting time is being reduced or completely removed.

However, this balance is still being compromised with so many putting in longer hours than they’re contracted to even while working at home, perhaps unaware of the cumulative amount of time they’re losing from their personal lives.  

So, what else could Brits be doing with this time? Experts at Hitachi Personal Finance offer five alternative activities UK workers could be doing instead of working outside their contracted hours:  

  1. Learn a new language  

If learning a new language is of interest, research shows that it takes 480 hours to reach basic fluency3. Meaning in the six weeks spent on overtime each year, you could learn at least one new language, maybe even two. 

  1. Gain a new habit  

It has also been widely reported that it takes just 21 days to form a habit4, so in the same time you spend working overtime each year, you could be making two new habits part of a daily routine that could have a positive impact on your life, such as exercising, quitting smoking or meditation.  

3.    Earn a degree 

If you’ve ever wanted to study a degree or add another one to your belt, it could be doable if you skip the extra hours in the office or working from home. You can complete a 3-year degree in 108 hours at the Open University6, meaning you could easily get a degree or two under your belt by sacrificing the extra time sat behind a desk.   

4.    Binge watch a box set  

If getting your teeth into a good boxset is more your thing and you’re a Game of Thrones fan, you could binge-watch all eight series instead of putting in the extra graft behind their desk at home or in the office; it would take three days and 16 minutes to watch from start to finish7.  

Marvel films more your thing? It would take just over two days to watch all 23 movies8, so in the six weeks you’d otherwise be spending working overtime in a year, you could sit down and watch the entire superhero franchise 20 times.  

Commenting on the findings, Vincent Reboul, Managing Director of Hitachi Capital Consumer Finance says: “It’s very interesting to see the sheer amount of people in Britain who are working way past their contracted hours.

“If 2020 has taught us anything it’s that we need to value the time and experiences we have with each other and our loved ones, as well as making sure we’re dedicating time to ourselves. 

“Putting in the extra hours during the working day can sometimes be inevitable, but we wanted to highlight just how much this adds up to over time. This is particularly relevant as home working has become the norm for many, which appears to have blurred the lines between work mode and home mode.

“Hopefully these findings help workers to realise how much time they do have available to them once they start paying attention to their work/life balance.” 

To find out more, please visit: https://www.hitachipersonalfinance.co.uk/latest-posts/money/5-things-you-could-be-doing-instead-of-working-unpaid-overtime/ 

Five home improvements you can make for under £100

Most of us have spent more time in our homes in recent months than ever before, so it comes as no surprise we are seeking to make home improvements, with Google searches for DIY once again on the increase during the latest lockdown.

For anyone thinking of sprucing up their home decor, one of the most common considerations is if it will add value to the property.

Providing expert guidance, Hitachi Personal Finance has looked at the most effective home improvements you can make on a low budget, for less than £100.

1.       Painting a room – £71

Nothing brightens up a room more than a fresh lick of paint and this is something that can easily be done yourself. Rather than paying for a professional decorator, why not invest in some brushes, rollers and have a bit of fun picking the colour you want for a room.

To cover the cost of a main room, such as a lounge, kitchen or bathroom, paint will cost around £711 and will give your living space a much fresher look. If you are someone who monitors internal décor trends, choosing the right colour at the right time could even add more than £1,400 in value to your home if you came to selling2.

2.       Kitchen spruce ups – £60

They often say the kitchen is the heart of the home, but a full-scale kitchen refurb is not always necessary, and can prove very costly. It can be easy and cheap to make just a couple of subtle changes to change the whole complexion of the room.

Adding or swapping a glass hob splash back can cost as little as £603, whilst tiling a wall could be just what you need to reinvigorate your kitchen area. The cost depends on the type of tile and size of your kitchen, but the average kitchen tiling will set you back just £35 per square metre4.

3.       New curtains and blinds – £50-£90

Old drapes in your window frames can make a room feel stale and dull, so replacing those with something more vibrant and colourful can really make a difference.

Providing you have had them installed previously, just replacing curtains or roll up blinds won’t cost as much as you think. Home interior retailers sell a range of good quality curtains for between £50-£905 that can totally transform the feel of a room.

4.       Decluttering – free

A really simple way to improve the feel of your entire home is organising and decluttering from top to bottom. Excess belongings are commonplace in a lot of households and can often be forgotten for long periods, leading to even the most spacious properties feeling cramped and messy.

Taking the time to go through each room, organising items to keep and collecting ones you want to recycle or donate to charity, will free up storage space that you can then make good use of. And, of course, this will cost you virtually nothing and if donating unused items to charity it will help others and the environment too.

5.       Sprucing up your front door – £80

Make sure you don’t forget about the exterior of your home, as improvements on the outside can really add value to your property.

Sanding down and re-painting your front door will help alleviate any looks of tiredness from the outside and will certainly add kerb appeal. Although this sounds like a big job, the average cost of the paint and tools required to take this project on are attainable at just £80

Vincent Reboul, Managing Director at Hitachi Capital Consumer Finance, said: “The start of the year is often a time of reflection, and this applies to our homes as well as our careers and personal lives. The lockdown means even more of us will be looking to take on home improvements in the coming months.

“Although a lot of DIY jobs can be quite large and costly projects, there are certainly tweaks and changes we can be making ourselves to have similar benefits without forking out huge sums of money.

“We hope this guide inspires homeowners looking to try their hand at a few upgrades to give their house a fresh feel for 2021.”

For more information on the home improvements you can make on a budget, visit: 

https://www.hitachipersonalfinance.co.uk/latest-posts/homeimprovements/make-the-most-of-your-home-improvement-budget/