65% of Brits Are Worried About Their Financial Security as Money Worries Rise, Research Reveals
- Personal Finance , Security
- 16.11.2020 12:20 pm
Toluna’s ‘Understanding the 2020 Consumer’ Global Barometer Study is a bi-weekly index that taps into a community panel of 30+ million members providing accurate and timely information on the world’s current perceptions. The latest research surveyed 1,093 respondents in the UK.
The Coronavirus pandemic has now lasted 8 months, and our financial health is certainly suffering. Out of those surveyed:
- 65% are worried about their financial security
- 45% admitted that they are less well off than they were before the pandemic hit
- 42% of people are not confident about spending money, as England experiences its second national lockdown
- A third (33%) have more money worries
- 23% of respondents said they were worried about job security and keeping their current role
During these unusual times, many of our personal finance habits have changed too:
- 40% of those surveyed will now save more for a rainy day / unexpected crisis
- 38% of respondents have committed themselves to be better at budgeting
- Almost a quarter of Brits (24%) have vowed to pay off debts
Nearly a fortnight into a new national lockdown, people were asked about other pandemic induced changes in their lives too.
The research shows that we’re not confident about holidaying any time soon (understandably so), we’re watching a lot more broadcast TV and radio and reading more books, as well as keeping our cupboards better stocked and cooking many more homecooked meals - a positive benefit of home working, perhaps?
- 44% of people now watch more broadcast television or listen to the radio than they did before the pandemic
- The same percentage of us are cooking more home cooked meals and a slightly higher percentage (46%) are keeping their cupboards better stocked
- 24% of those surveyed are reading more books since March