A study involving more than 4,000 adults has found that 40 percent now feel ‘very confident’ in handling their finances, up from almost 10 percent the previous year

Brits are feeling more financially confident than last year, despite ongoing economic challenges. New research involving more than 4,000 adults reveals that 40 percent now describe themselves as “very confident” in managing their finances.

The study found that 84 percent of respondents feel more assured about their ability to save. Four in ten credited their confidence to having an “emergency fund” – a pot of money set aside for unexpected expenses.

There’s more good news: the proportion of adults without any savings or investments has dropped. Now, 83 percent have some form of savings, up from 75 percent last year, and the number of people actively investing has jumped by 10 percent.

Credit card debt is also improving, with the average amount owed falling below £2,000—from £2,096 to £1,995.

The findings suggest that, despite economic uncertainty, more people across the UK are taking control of their financial futures.

Yet, while the Moneybox-sponsored survey suggests growing optimism around retirement planning, only 21 percent feel ‘very confident’ about enjoying a comfortable retirement.

Brian Byrnes, who heads up personal finance at the platform, commented: “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.”

A recent study has highlighted that an increasing number of people are taking the reins of their finances, with many describing their approach as “structured and comprehensive”, and a growing interest in learning about personal finance topics.

Belfast tops the charts for having the most financially confident individuals in the UK, closely followed by London and Manchester, with nearly every city witnessing a boost in confidence over the past year.

Brian Byrnes commented: “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 show how far people have come – learning from the economic challenges of recent years and taking 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.”