30% of all Brits said they will be cutting back on expenses this year
Many Brits are looking to save money this year - with more than half of hard-up 18 to 34-year-olds looking to start second jobs to combat stagnant wages and rising inflation. Meanwhile, one in three people plan to cut back on expenses in a bid to bolster their bank accounts. A new survey by Moneyfactscompare.co.uk exploring peoples' savings goals for 2025 revealed 40% of Brits plan to save by setting aside money from work or pensions.
It is also essential to frequently navigate the different savings account options that are designed to help savers achieve different goals. We hope more Britons feel empowered to save in the coming year to improve their financial wellbeing.” When looking into what Britons are saving money for, 31% of respondents are making general savings, followed by travelling , building an emergency fund , retirement , and buying a house .
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