Britons Show Growing Economic Optimism, with 43% Anticipating Improved Financial Circumstances
- 29% of those surveyed plan to capitalize on savings opportunities.
- 43% of UK adults expect their financial situation to improve within the next year, while 33% do not believe it will change, and 24% are unsure.
- The primary factor influencing this optimism is ‘confidence in their own financial management,’ cited by 33% of respondents.
More than 40% of UK adults expect their financial situation to improve within the next 12 months, according to new research by SmartSave, a Chetwood Financial company.
The independent survey of 2,000 UK adults reveals that the primary reason for this optimism is a strong belief in their own financial management skills (33%). Additionally, 29% anticipate a salary increase and the same percentage plan to take advantage of savings opportunities.
Around 24% attribute their positive outlook to expectations of an improving UK economy, while 23% cite decreasing inflation as a contributing factor.
Andy Mielczarek, Founder and CEO of Chetwood Financial, said: “The past three years have been particularly tough for savers, with soaring inflation, high interest and mortgage rates, and slow wage growth making long-term saving difficult. However, inflation has finally fallen back to target levels, offering a sign of relief for savers.
“Unsurprisingly then, there is some optimism towards the year ahead, and a notable, and positive, theme among our findings is respondents’ confidence in their own financial planning abilities. Indeed, strong financial management and taking advantage of savings opportunities will be key for people looking to take back control of their money as we move away from the high inflationary period.
“More than ever, savers need to take the initiative. With inflation at a three-year low and interest rates still high, there is a prime opportunity for savers to secure the best long-term savings opportunities while they last.”
