More Britons positive about personal finances - survey


More Britons feel positive about their personal finances than last year despite concerns over food prices, household bills, the weak pound and Brexit, a survey has found.

Three quarters (75%) of UK adults feel positive about their finances this year, up from 41% last year, the survey for VoucherCodes found.

A quarter (25%) feel negative about their financial outlook, citing rising food prices (62%), household bills (54%), concerns over the weak pound (38%) and uncertainty around Brexit (30%).

Some 28% believe their financial outlook will be better than last year.

Overall, the survey found workers believe their disposable income will increase by 3% on average from £349 a month last year to £360 this year.

Those feeling positive about their financial situation this year say they have had, or are expecting, a pay rise (29%) and are planning to spend it more carefully, either by shopping around for deals (25%) or budgeting in advance (22%).

Spending priorities this year are holidays (39%) and house renovations (16%), while 14% are also planning on paying off personal debt.

The poll found spending on expensive food is set to drop, with consumers planning to cut out takeaways (26%), meals out (24%) and premium groceries (21%).

Britons are also expecting to save more at an average of £221 per month, up 13% on last year.

Among savers, 25% are planning on setting aside money for a holiday in 2019 or beyond, 15% are planning on topping up their retirement fund and 10% are saving up to buy a property.

Paul Lewis, senior director of marketing at VoucherCodes, said "It's reassuring to see the nation feeling positive about their finances for the year ahead, despite ongoing economic uncertainty having an impact on the cost of living for many in the UK.

"As prices on day to day expenditure continue to rise, we expect to see a rise in Brits shopping around to try and get the best deal for themselves, or indeed making sacrifices and cutting down on smaller indulgences like takeaways and daily coffees to help save up for bigger expenses like holidays."

:: Opinium surveyed 2,002 UK adults online between January 11-12.