Brits’ financial confidence has grown in the last 12 months – despite economic uncertainty, recent volatility in the stock market and falling interest rates.
A study of 4,015 adults found many are feeling more assured when it comes to saving, investing, retirement and managing their personal finances than they did in 2024.
More than four in 10 (41 per cent) now feel ‘very confident’ managing their personal finances, up from 32 per cent last year.
While 84 per cent are feeling confident in their ability to save (up five per cent year-on-year), with 42 per cent going as far as to say they feel 'very confident' - a nine per cent jump since last year.
And while the majority still does not feel confident investing (56 per cent), this number has fallen six per cent in the last year.
Looking at how people feel about retirement, just 21 per cent feel very confident when it comes to planning for a comfortable post-work life, although this is up on last year - where only 11 per cent of those surveyed felt sure they were on track.
Brian Byrnes, head of personal finance at savings and investing platform, Moneybox [https://www.moneyboxapp.com/], which commissioned the research, said: “In what has been an eventful year in personal finance news so far, it’s positive to see people doing what they can - learning more, prioritising saving, and being mindful of their spending to build wealth and boost their financial resilience.
TOP 10 BEHAVIOURS THAT BOOST SAVING CONFIDENCE
1. Tracking your spending (46%)
2. Knowing you have an emergency fund to fall back on (42%)
3. Seeing your savings grow over time (42%)
4. Avoiding unnecessary or impulsive purchases (40%)
5. Making sure your savings are earning a good interest rate (37%)
6. Spending spend time reviewing your personal finances (35%)
7. Educating yourself about saving and personal finance (33%)
8. Transferring money automatically into savings each month (32%)
9. Having a clear budget that you stick to (27%)
10. Having clear financial goals you’re working towards (24%)
