Brits ditch five-year plans as they focus on day-to-day living instead

Brits are shunning the traditional five-year plan with many believing it's just too inflexible for today's fast-paced world

Brits are shunning the idea of mapping out their future(Image: Getty)

Ditch the old-school five-year plan, folks! New research has revealed that modern Brits are way more about living for today than plotting out long-term goals.

According to the stats seven in 10 Brits have waved goodbye to the five-year plan, with a whopping quarter chucking the idea of life planning out the window altogether. A fifth reckon long-term plans are just too rigid for today's fast-pace world.

However, even without a solid plan, many Brits remain confident about achieving their goals, especially when it comes to their finances.

The study, commissioned by First Direct, found that 38% of Brits believe they'll reach their financial targets due to their determination and motivation, with 37% attributing their optimism to regular saving and investing.

Millennials have big plans for the next couple of years(Image: Getty)

Laura Turner, founder of the popular money blog Thrifty Londoner, stated: "Many people feel that flexibility is more important than sticking rigidly to a long-term plan. However, having some structure can help you stay focused and motivated, even if you adapt your goals along the way."

Millennials are currently the most satisfied when it comes to working toward their five-year ambitions, with eight in ten pleased with their progress. Over the next five years many are planning to build up their retirement fund, achieve financial freedom or become homeowners.

Carl Watchorn, head of banking at First Direct, said: "When it comes to finances, we understand there is no 'one size fits all' approach to goal setting."

"We encourage our customers to think about what they want to achieve and set goals that reflect their unique priorities and circumstances."

"We're here to support our customers in making the most of their finances, offering tools like educational resources and free, personalised support from our team of Money Coaches."

"If you're looking to set your financial goals for 2025, speak to your bank about how they can help with planning."