The average Londoner believes they could save £604 a year if they sought savings over convenience – with the search for an easier life costing the nation £35 billion annually.

The survey from money.co.uk savings accounts reveals the impact of opting for quick-fixes on personal finances, with more than three in 10 people (35%) saying they are now overly reliant on services that offer convenience over savings.

When asked how much money Londoners think they could save monthly if they didn’t do things out of convenience, the average amount totalled £50.47 – giving the annual figure of £604. However, this figure rises significantly when shop bought lunches, takeaways, taxi journeys and menial household chores are accounted for, resulting in an additional £2,500 potentially saved.

The cost of living crisis has impacted people’s attitude towards spending, with over half of the UK (55%) now looking to cut down on convenience costs, with Belfast (61%), Birmingham (60%) and Edinburgh (60%) feeling the pinch the hardest.

More than six in 10 Brits (64%) now subscribe to premium versions of everyday services, such as Amazon Prime and Uber One, and more than one in four (26%) subscribe to recipe box delivery services – with almost half (46%) of the latter now saying they spend more on food as a result.

Similarly, more than quarter (27%) of Brits pay extra for next day delivery, with this figure rising to over a third for Gen Z (34%).

Household tasks such as DIY, gardening and laundry are costing Brits up to £62.03 a month – £744.36 per year.

Other costs incurred include £254 on taxis and public transport and £381 spent on takeaways annually.

Lucinda O’Brien, expert at money.co.uk savings accounts, said: “Our research into the spending and savings habits reveals how adults in the UK, in the search for convenience, are spending significantly more than those who are willing to wait. While spending on convenience certainly isn’t wrong, it is important to understand the impact this has on your monthly budget and your ability to save.

“According to our study, the average Brit could save more than £5,000 a year if they were to cut down on short taxi trips, takeaways and next-day delivery services. This spending could otherwise be put in a savings account to earn extra money and used as a buffer against the continuing rising cost of living crisis.”

Regionally, those in Plymouth declared they spend the most on making life more convenient, with the south coast city spending more than £60 per month and £720 per year for the pleasure – £184 more than the UK average.