Financial confidence among UK adults has risen to 85% in 2026, up from 79% in 2024, according to an annual study of over 4,000 adults. Confidence in savings has also increased, from 79% to 83%.
Despite these gains, fewer than half of adults feel comfortable with the idea of investing, although this figure has risen from 33% to 40%. Just over half now say they feel confident planning for retirement, up from 46% to 54%.
Confident savers set goals and research products
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 goals (86% vs 70%).
The research was commissioned by Moneybox as part of its annual Financial Confidence Index, which tracks how confident people feel about saving, investing, retirement and managing their money day to day. The savings and investment platform has also created a Money Mindsets quiz to help people understand what shapes their relationship with money and influences their financial decisions.
Southampton leads confidence rise
Southampton recorded the biggest rise in financial confidence of any city, with confidence climbing from 62% in 2025 to 69% in 2026. This moved the city from joint bottom of last year's rankings to the UK's most financially confident city.
Cambridge and Birmingham also saw increases, with confidence rising from 64% to 68% and from 62% to 66% respectively. Edinburgh, Leicester and Plymouth recorded smaller increases. Belfast saw the biggest drop, with confidence falling from 74% to 65%, while Brighton and Hove dipped from 70% to 64%.
Confidence sources and retirement challenges
The findings, carried out by OnePoll, revealed that financially confident Brits rely on a mix of sources to boost their confidence. More than half (51%) turn to loved ones for support, four in 10 use financial advice websites, and 23% look to news sites or social media.
Almost half (46%) cited the rising cost of living as a challenge to retirement planning, while 31% said they don't know how much they need to save to retire comfortably. The impact of confidence is reflected in long-term wealth: confident Brits 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." He added that building confidence comes from understanding what you're working towards, taking manageable steps and building habits that can grow with you over time.
Byrnes also offered tips to boost financial confidence: give your money a purpose by setting clear goals; build habits before chasing big numbers; make the move from saving to investing when it's right for you; don't leave your pension until later; and make progress easy to maintain with automatic contributions.
