How are Britons coping with their personal finances?
November 30th, 2023, YouGov

How are Britons coping with their personal finances?

In general, Britons are struggling with their personal finances, with older generations being hit particularly hard. Younger people recognise the current economic hardship but are more optimistic about their current and future financial prospects.

Almost three-fifths of 25-34s consider themselves financially secure, whereas just under half of 45-54s share this sentiment. In general, younger Britons consider themselves more optimistic about their future financial prospects, with over half of those aged between 18-24 agreeing to the question “do you agree or disagree that you feel confident and excited about your future?” is compared to 42% of the general population.

Furthering this point, well over half of 18-24s and 25-34s say their financial situation has improved over the last 12-months, compared to just 9% of 50-64s, and 29% of those aged 65+. Overall, 18-24s are also more likely to be more confident about their future career and job prospects, with three-fifths of this age demographic agreeing with this notion, compared to just 35% of 45-54s.

London is the only region in Great Britain where the population consider themselves excited about their prospects (15% compared to 9% Nat Rep).

Generally, more Britons feel like they could not handle a serious personal financial crisis: 36% say they could, compared to 48% who said they could not.

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