One in three UK adults not confident about their financial resilience – survey
Around 34% of people do not feel confident about their financial resilience and ability to withstand unexpected expenses, according to HSBC UK.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.One in three (34%) people do not feel confident about their financial resilience and ability to withstand unexpected expenses, a survey indicates.
Six in 10 (59%) people do feel confident about their financial resilience, the YouGov research, carried out for HSBC UK found. The remaining 7% said they did not know.
The research also indicated slightly more people (41%) feel confident about achieving their financial goals this year than those who are not confident (36%).
It is obvious that the increased cost-of-living is still a source of concern for many
The proportions of people who said their finances had improved/remained stable or worsened since May 2023 were fairly evenly split.
Nearly half (49%) of people said their finances had improved or remained stable, while 47% said their finances had worsened.
Steve Reay, a financial wellbeing expert at HSBC UK, said: “While it is reassuring to see the level of financial optimism among consumers, it is obvious that the increased cost-of-living is still a source of concern for many.
“We have worked hard over the last year to educate and empower people with regard to their finances, and a key part of this is helping to build financial resilience.”
During 2023, HSBC UK’s financial wellbeing team held webinars that were attended by more than 50,000 people. The webinars were open to customers and non-customers.
YouGov surveyed more than 2,100 people across the UK for HSBC UK in November 2023.