Brits are feeling more positive about their personal finances

Last post: Feb 9, 2018

An extensive survey by VoucherCodes has revealed that British consumers are feeling increasingly optimistic about their personal finances. But is trouble on the horizon?

 Did you start 2018 feeling pretty good about your financial situation? If that's the case, you're not alone. An extensive survey of over 2000 participants conducted by VoucherCodes has revealed that UK consumers are feeling increasingly optimistic about their personal finances, despite the uncertainly surrounding Brexit and widespread, global financial turmoil.

According to the fresh study, 75% of participants claimed they were feeling positive about the year ahead from a financial perspective. This confidence was often linked to an expected improvement in pay and a rise in disposable income. While participants stated they had an average disposable income of £349 per month in 2017, in 2018 they estimate a rise to £360.

So where will this disposable income be headed this year? The number of Brits planning to spend on holidays this year has risen, but besides getaways, most of the poll's participants seem increasingly dedicated to sensible spending. 16% were planning to undertake household renovations and 14% were expecting to work towards freeing themselves of debt.

When it comes to cut backs, the UK seems to be in a money-savvy frame of mind. Many claimed to be cutting back on unnecessary expenses such as takeaways, expensive groceries and on visiting bars and clubs.

Are you feeling financially optimistic this year? Whatever highs and lows you experience this year, our finance experts can help you source loans to cover emergency expenses, if the worst happens. Contact our team to find a solution that fits your financial position today.