44% people in the UK feeling confident about their personal finances, finds Toluna COVID-19 Barometer

44% people in the UK feeling confident about their personal finances, finds Toluna COVID-19 Barometer
20.04.2020 12:19 pm

44% people in the UK feeling confident about their personal finances, finds Toluna COVID-19 Barometer

Covid-19 , Personal Finance

The Toluna and Harris Interactive COVID-19 Barometer is a bi-weekly index that taps into a community panel of 30+ million members providing accurate and timely information on the world’s perceptions regarding the Coronavirus. The latest research was carried conducted between April 9 2020 and April 14 2020 and surveyed 1,068 people in the UK.

FINDINGS

As lockdown measures in the UK are extended by at least three more weeks, people have expressed their thoughts on their own financial security:

  • 44% are confident in their own personal finances since the pandemic lockdown started with over a third (33%) feeling very confident
  • 88% believe financial organisations such as their banks, credit card/loan networks and insurers have been supportive during the crisis
  • Half of respondents hold a lot of confidence in their personal or business bank to support them through the pandemic

The Bank of England and credit card networks also fare well as the survey revealed:

  • 44% of people hold credit card networks in high regard and have confidence in the support they’re providing
  • 38% have high confidence in the Bank of England, with 14% having very high confidence
  • Online banking remains the key engagement method with 22% more people switching to online banking in the last 2 weeks

Lucia Juliano, Head of CPG and Retail Research at Harris Interactive and Toluna said: “The pandemic has caused mass financial disruption across the world but it’s good to see that people in the UK are confident not only in their personal finances but also in those institutions that support them, whether that’s their personal or business bank or credit card network. As the UK lockdown extends, we now hope to see this support continue.

She continued: “We (Harris Interactive and Toluna) are strongly committed to providing these insights, garnered from a UK panel within Toluna’s 30+ million member community, on a regular, timely basis throughout the duration of the COVID-19 crisis. By doing so, the broader market can be kept informed of people’s sentiments as they change during these uncertain times.”

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