Britons' Savings Confidence Falls to 35% as 34% Turn to Credit Cards
Updated
Updated · yougov.com · Jun 26
Britons' Savings Confidence Falls to 35% as 34% Turn to Credit Cards
1 articles · Updated · yougov.com · Jun 26
Summary
35% of Britons say they are not confident in their savings, the weakest reading in new YouGov data, while 31% lack confidence in covering unexpected expenses and 30% in their financial security over the next year.
Rising energy bills, geopolitical instability and firmer inflation are driving the squeeze, even as 64% still feel confident about meeting everyday expenses, 62% about utility bills and 52% about housing costs.
34% say they use credit cards when money gets tight, making them the most common coping tool; 23% draw on savings, 17% use buy-now-pay-later services and 13% rely on overdrafts.
16% report making long-term financial adjustments and another 16% short-term ones, with 18% delaying a major purchase, 7% postponing a job change and 7% putting off a home move.