Life Changing Amount Of Money

Have you ever daydreamed about winning a large sum of money? How would you feel; what would you spend it on and who would you potentially share it with?

Here at Together, we thought we would find out what the British public really thinks is a life-changing sum of money. We surveyed 2,000 UK adults and here's what we found out:

£250,000
is the average amount UK adults would consider to be a life changing sum of money. £750,000
is the average amount UK adults would need to win before they would quit their job. 1 in 5
men wouldn't tell anyone if they won £1m, compared to 1 in 10 women. If Brits
were to win £1m they would give away £473,490 to their family, friends and charity.

We asked participants to select the top three things they would do straight after winning a large amount of money – here's how Brits would spend it

34.6% of people said they would put a substantial amount straight into savings, followed closely by 34.0% of people who would purchase a new house.

Travelling the world was next on Brits' agendas, with 1 in 3 people saying they'd go on holiday and 19.8% selecting travelling.

Investing in stocks and shares and entrepreneurship were less of a priority, with only 8.8% and 8.2% of people selecting these retrospectively.

Does a person's age, salary or place in which they live change their perception of what a life-changing sum of money is?

Click the headings to see the average by city, age and salary.

Our survey revealed that 15.8% of Brits wouldn't tell anyone if they won £1m, but how does that differ depending on where you live, your age and salary?

People from Belfast are the most likely to keep quiet upon winning £1m, with 25.5% admitting they wouldn't tell anyone. This was followed by Cardiff (24.0%), Plymouth (22.2%) and Aberdeen (19.1%).

People living in Sheffield and Birmingham are most likely to share their news, with only 11.3% saying they wouldn't tell anyone.

People earning £70,000-£89,999 are the most secretive salary bracket, with 1 in 5 revealing they wouldn't tell anyone if they won £1m.

In comparison people earning £90,000 or more are the most honest, with just 3.5% confirming they wouldn't tell anyone.

55-64-year olds are most likely to keep quiet following a big win, with 1 in 5 admitting they'd keep their winnings secret. 35-44-year olds are the most honest age bracket, with 9 out of 10 people revealing they'd share their great news.

Caveat

National representative survey of 2,015 UK adults.