UK households could save thousands of pounds a year on bills by completing a simple task. According to research by Starling Bank, Brits who avoid sorting out their life admin can end up paying a heavy price.

To combat financial strain, hosting admin nights with friends and family could help save some pounds. Starling's personal finance expert, Lora Rowley, explained that these nights can bring people together to make time to get through their to-do list, which might include "cancelling costly subscriptions, finding better deals or making a monthly budget". It has become increasingly important, as the bank's latest research found that 33% of Brits accidentally break the law by failing to sort out life admin on time.

For example, some costly procrastination could include not getting around to booking MOTs, securing planning permission, or replying to Jury summons. It also noted that Brits pay an average of £346 in late payments.

Further research showed that those who complete an admin night can save up to £201 a month on average, which could add up to £2,412 a year if done every month.

Financial psychotherapist Vicky Reynal, who partnered with the bank to spread the word, explained just how beneficial the admin nights can be.

Putting things off indefinitely is harder to do when you have other people almost holding you accountable, she said. Ms Reynal added that admin nights push you just as much as they help you; you're also having to show up for others.

"It's a bit like a gym buddy. If you don't show up, then you're hurting their chances of getting their admin done. So there's something about doing it in partnership that is really beneficial," she told Express.co.uk.

The socialising that comes out of an admin night acts as a "reward," according to the expert.

"You're doing something that you might dread and might feel difficult. You might not look forward to, and you're pairing it off with something that you do look forward to, which is seeing a friend, and that feels good for all sorts of physiological and psychological reasons," she continued.

The expert shared five tips to host a successful admin night.

• Make it regular: Perhaps every few weeks, so it is not too difficult to co-ordinate and add it to the calendar.
  
• Pick friends you trust and are comfortable with: Some of the money tasks may feel emotionally difficult to tackle, so you want to make sure you are around people with whom you can feel relaxed.
  
• Choose a time: Make sure it's suitable. Ms Reynal noted that you want to catch yourself in "the best possible state of mind".
  
• Bring a list of things you want done: Pick maybe three priorities that, if you were to only get those things done, you would still leave with a sense of achievement.
  
• Make a note after the admin night: Whether it is a mental one or you write it in a journal, make a note of how you felt. Was it fun? Did you feel proud of yourself? That way, you can go back and review the benefits of the admin night.

Sorting out your life admin and knowing about money is "massively important", Ms Reynal emphasised. "Studies have shown that financial anxiety, which, by the way, half of the population suffers from at some level, decreases as financial literacy increases.

"So the more you learn about money, the less anxious you are about it because you feel more in control. You know what you should be doing, what you shouldn't be doing, you know, what you can, and what is within your sphere of control to change."