People still cautious about their finances despite low inflation

New research from Sainsbury’s Bank reveals that when it comes to their finances, the majority of people don’t feel better off than last year, and their main financial worry is the cost of living going up.

Key findings from the research include:

  • 47% of people claim they feel no better about their finances this year than they did in 2015, 26% feel less confident about their finances, compared to 24% who feel more up-beat
  • Only 19% of women believe they will be better off this year than in 2015, with 28% believing they will be worse off. The corresponding figures for men are 29% and 25%
  • On a regional basis, 40% of people in London and 30% of adults in the South West feel better off than last year, compared to 16% and 27% who feel worse off. In the North West for example, 31% feel less confident, compared to just 19% who feel more confident
  • In total, 73% of us admit to having some financial concerns and for 26% of people, their biggest money worry is the cost of living, this is followed by 13% who cited changes to their family’s income. Nearly one in ten (9%) said their main financial concern was not receiving a good enough return on their savings
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