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 don’t 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.
The research was commissioned by savings and investing app, Moneybox.
Brian Byrnes, head of personal finance at the platform, 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.
“That said, there is still much more the financial services industry can do to support people on this journey to move towards their financial goals with confidence.
“Whilst providers like Moneybox are working to make tools and information as accessible as possible – and positive initiatives like targeted support are on the horizon – the financial services industry cannot take its eye off the ball.
“Our research clearly shows that people are making real efforts to engage and educate themselves financially.
The study also revealed a growing number are taking a more focused approach to their finances, with 32 per cent describing their financial planning as “structured and comprehensive” – up eight per cent from 24 per cent in 2024.
While 67 per cent now take time to learn more about personal finance topics – up from 62 per cent a year ago.
Nearly half (46 per cent) of those who are confident when it comes to saving attribute this to regularly tracking their spending, and 42 per cent feel more confident saving as they now have an ‘emergency fund’ – a pot of money set aside for any unforeseen expenses.
It also emerged the number of adults with no savings or investments has nearly halved, from 21 per cent to 12 per cent.
While those with savings rose from 75 per cent to 83 per cent, and active investors climbed from 30 per cent to 40 per cent.
Credit card debt is also falling, with 27 per cent carrying balances in 2025 – down from 31 per cent in 2024 – and the average debt has dropped from £2,096 to £1,995.
Across the UK, Belfast was found to be home to the most financially confident people (74 per cent) – a jump to the top from 54 per cent and only 16th place last year.
London and Manchester followed close behind (both now 68 per cent), with both cities increasing in confidence from 62 per cent and 59 per cent respectively in 2024, with Brighton and Chelmsford (both 67 per cent) completing the top five.
But almost all cities have seen at least a minor increase in feelings of confidence over the last 12 months, according to the research carried out via OnePoll.
Brian Byrnes, from Moneybox, added: “The government, regulators and the industry need to match their drive and momentum and commit to doing all they can to close the advice gap and help people make informed financial decisions with greater confidence.
“These results are a real testament to the strides people have made – learning from the economic challenges of recent years and choosing to take greater control of their financial future.
“They show that financial confidence is like a seed: once planted, with a little encouragement, it grows – prompting people to spend more time learning, planning, and engaging with their money.
“That’s the real story here: resilience, progress, and the power of confidence to transform financial lives.”
TOP 10 BEHAVIOURS THAT BOOST SAVING CONFIDENCE:
- Tracking your spending
- Knowing you have an emergency fund to fall back on
- Seeing your savings grow over time
- Avoiding unnecessary or impulsive purchases
- Making sure your savings are earning a good interest rate
- Spending spend time reviewing your personal finances
- Educating yourself about saving and personal finance
- Transferring money automatically into savings each month
- Having a clear budget that you stick to
- Having clear financial goals you’re working towards
TOP 10 BEHAVIOURS THAT BOOST INVESTING CONFIDENCE:
- Understanding the basics of how investing works
- Seeing positive returns or growth from your investments over time
- Knowing how much risk you’re comfortable with and invest accordingly
- Feeling in control of your long-term financial future
- Keeping up with financial news or market trends
- Learning about investing from trusted sources
- Starting investing early and feel like you’ve built good habits
- Having a well-diversified investment portfolio
- Speaking to a financial advisor or expert for guidance
- Investing regularly and trying not to worry about short-term market ups and downs
