Brits optimistic about finances in 2025 despite rising living costs
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Despite the difficulties posed by rising bills and everyday expenses, Brits are cautiously optimistic about their finances as they head to 2025. Focusing on setting clear financial goals, building resilience, and adopting healthier money habits. The past year has been marked by significant financial challenges, with mortgage and rent payments increasing by 9%, and grocery costs and energy bills averaging £313 and £203 respectively. However, research suggests that 2025 may bring a more positive outlook.
A study by savings and investing app Moneybox found that over half of Brits believe 2025 could be a turning point for their personal finances, with a quarter having already set clear financial goals for the year ahead. Brian Byrnes, head of personal finance at Moneybox, observed: "There's a clear shift towards saving, investing, and reducing debt, showing that people are setting clear financial goals for the year ahead and beyond.".
In 2024, a significant 37% of respondents managed to meet all their financial goals, marking a modest yet meaningful increase from 34% in 2023. Even those who didn't quite hit their targets reported satisfaction with the progress they made. Looking forward, one in five Brits are feeling confident about investing more in 2025, and 31% reckon they're now in a better position to save regularly. On an encouraging note, 18% are hopeful to clear their debts within the year, giving them a fresh sense of financial control.
