Research has found that Brits are looking ahead with optimism, with more than half of adults believing that 2025 could be a turning point for their personal finances
Despite the difficulties posed by rising bills and everyday expenses, Brits are cautiously optimistic about their finances as they head to 2025. Focusing on setting clear financial goals, building resilience, and adopting healthier money habits.
The past year has been marked by significant financial challenges, with mortgage and rent payments increasing by 9%, and grocery costs and energy bills averaging £313 and £203 respectively. However, research suggests that 2025 may bring a more positive outlook.
A study by savings and investing app Moneybox found that over half of Brits believe 2025 could be a turning point for their personal finances, with a quarter having already set clear financial goals for the year ahead.
Brian Byrnes, head of personal finance at Moneybox, observed: “There’s a clear shift towards saving, investing, and reducing debt, showing that people are setting clear financial goals for the year ahead and beyond.”
In 2024, a significant 37% of respondents managed to meet all their financial goals, marking a modest yet meaningful increase from 34% in 2023. Even those who didn’t quite hit their targets reported satisfaction with the progress they made.
Looking forward, one in five Brits are feeling confident about investing more in 2025, and 31% reckon they’re now in a better position to save regularly. On an encouraging note, 18% are hopeful to clear their debts within the year, giving them a fresh sense of financial control.
There’s also been a shift towards positive financial habits. Last year, Brits managed to stash away an average of 17% of their monthly income, a 3% rise from the previous year.
Many took crucial first steps, such as: building an emergency fund (17%), crafting a long-term financial plan (15%), making their first investment (14%) or opening a Cash ISA (13%). With many planning to do the same again in the new year.
While 38% of respondents don’t anticipate their income to grow in 2025, to achieve these goals, many are trimming non-essential spending such as reducing the number of takeaways, cutting back on nights out and cancelling streaming subscriptions.
Brian Byrnes stressed the significance of regular, minor steps towards financial stability: “Taking control of your finances is about building momentum through progress, no matter how small.
“Automating savings, making sure you’re getting competitive interest rates, and regularly reviewing your budget for opportunities to reduce unnecessary expenses are cornerstones of good financial management.”
He added: “For those new to investing, platforms offering diversified portfolios tailored to your goals and risk level can provide a great starting point to boost your confidence over time.
“These actions not only foster financial resilience but also create a foundation for building wealth and creating the life you want in the future.”