Financial future anxiety: 32m Brits stressed about money as new report reveals nationwide pressure


The Great British Savings Report, based on exclusive data from a survey of 4,000 adults, highlights widespread financial anxiety, with midlife adults particularly affected. An overwhelming 71% of those aged 35-44 feel the pressure of balancing family expenses, mortgages, and retirement savings.
More than half (51%) of this age group have less than £1,000 in savings, leaving them vulnerable to unexpected costs such as emergency repairs or rising household expenses.
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Hide AdYounger generations are also feeling the strain: 66% of 25-34-year-olds report financial stress and 60% have savings below £1,000. Similarly, 63% of 16-24-year-olds feel financial pressure as they struggle to balance early career challenges alongside the need to start saving.
By contrast, older adults - those aged 55+ - appear to feel more secure, with less than half (46%) reporting financial stress. However, rising living costs and inflation are eroding their purchasing power and making retirement seem less secure than in previous generations.
Only 21% of Brits describe themselves as “very confident” in meeting their savings goals. Younger adults (25-34) are the most optimistic, with just under one-third (28%) feeling very confident, compared to only 15% of 45-54-year-olds. This reflects the growing financial pressures as people approach later life. Gerald Pajo, a financial expert, commented: “It’s a lifestyle thing - if you’re saving for a holiday, for example, you’re not as stressed as you would be about saving long term. The time horizons are different.”
This confidence gap suggests that midlife adults, in particular, require additional support and guidance to regain financial stability and ensure effective savings for the future.
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Hide AdIt’s recommended that individuals aim to save between three to six months’ worth of living expenses in an emergency fund. However, with 60% of 16-24-year-olds holding less than £1,000 in savings, many Brits are unprepared for unexpected financial shocks, such as job loss, medical emergencies, or household repairs.
Kevin Mountford, co-founder of Raisin UK and savings expert, commented on the findings: “The data highlights a worrying trend, especially for midlife adults bearing the brunt of financial stress. Balancing family demands, housing costs, and the cost of living is putting immense pressure on their finances, leaving many with minimal savings for emergencies. Individuals must start building financial resilience now.
“Whether it’s older adults seeing the value of their savings erode or younger people struggling to get started, it’s vital that savers have access to competitive rates and that financial institutions encourage better savings habits.”
For more information and to read the full report, visit Raisin UK.