Financial confidence among Brits has risen to its highest level in two years, despite ongoing economic pressures, according to an annual study of over 4,000 adults. The research, commissioned by Moneybox as part of its Financial Confidence Index, found that financial confidence has increased from 79% to 85% since 2024.
Savings and investing confidence grow
Confidence in savings has also risen, from 79% to 83%. However, fewer than half of adults feel comfortable with the idea of investing, although this figure has increased from 33% to 40%. Just over half of Brits now feel confident planning for retirement, up from 46% to 54%.
Those who are more financially confident are more likely to set long-term financial goals (85% vs 67%) and research financial products before making major decisions (88% vs 71%). They are also more likely to put specific plans in place to help them save, invest, and reach their financial goals (86% vs 70%).
Southampton leads the rise
In the Financial Confidence Index, Southampton recorded the biggest rise in financial confidence of any city, with confidence increasing from 62% in 2025 to 69% in 2026. This moved the city from joint bottom of last year's rankings to become the UK's most financially confident city.
Cambridge and Birmingham also saw slight increases, with confidence rising from 64% to 68% and from 62% to 66% respectively. Edinburgh, Leicester, and Plymouth recorded smaller increases. However, Belfast saw the biggest drop, with confidence falling from 74% to 65%, while Brighton and Hove saw confidence dip from 70% to 64%.
Retirement planning challenges remain
The findings, carried out by OnePoll, revealed that almost half (46%) of Brits cited the rising cost of living as a challenge to retirement planning, while 31% don't know how much they need to save to retire comfortably. More than half (51%) turn to loved ones for financial support, while four in 10 use financial advice websites and 23% look to news sites or social media.
The impact of financial confidence is also reflected in long-term wealth. Brits who are confident with money estimate their average net worth at £228,000, compared with £74,000 among those who lack confidence.
Brian Byrnes, a director of personal finance for Moneybox, said: “It’s encouraging to see financial confidence improving, but the gap between how people feel about managing their money today and planning for their financial future is still significant.”
Moneybox has also created a Money Mindsets quiz to help people understand their relationship with money and what influences their financial decisions.
