Financial confidence among Britons has grown over the past two years, despite continued economic headwinds, a new index from Moneybox has revealed.
Now in its third year, the Moneybox Financial Confidence Index shows that financial confidence has strengthened across every area since 2024, although investing and retirement still lag behind everyday money management.
Confidence in planning for a comfortable retirement has seen the biggest increase, rising from 46% in 2024 to 54% in 2026, albeit down from 57% in 2025. Meanwhile, investing confidence has increased from 33% to 40% over the same two-year period.
Confidence growth within the saving category has been more modest, rising from 79% in 2024 to 83% in 2026, dipping slightly from 84% last year. Confidence levels across managing personal finances also rose from 79% in 2024 to 85% this year.
Moneybox said the findings suggest that many people are still finding it harder to manage their longer-term finances than their day-to-day money or cash savings.
Moneybox’s modelling also shows how financial confidence is closely linked to the habits people build around money. Financially confident Brits are more likely to set long-term goals than those who lack confidence (85% versus 67%), research financial products (88% versus 71%) and make specific plans to achieve their goals and save or invest accordingly (86% versus 70%).
It also revealed how financially confident Brits draw their confidence from a range of support, with more than half (51%) turning to personal sources such as friends, family or a partner. Two in five (40%) use financial advice websites and 23% look to news or social media.
The research also explored the barriers holding people back. Affordability was found to be the biggest challenge when it comes to saving, while the fear of losing money tops the list for investing. For retirement, 46% point to the rising cost of living, while 31% admitted they don’t know how much they need to save to retire comfortably.
Moneybox said there is a substantial difference between the two groups, with financially confident Brits having an estimated net worth of £228,000, more than three times the £74,000 among those who lack confidence.
Brian Byrnes, director of personal finance at Moneybox, said: “While it’s encouraging to see financial confidence improving in the UK, we strongly believe there is a lot more work to be done to truly boost the nation’s financial wellbeing.
“Confidence can have a transformative impact on your life, but with progress slowing over the past 12 months – including dips in saving and retirement planning – it’s clear that feeling comfortable in one area doesn’t mean feeling secure across all of them.
“The next big challenge is helping people turn growing financial awareness into lasting habits. We all know knowledge is power, but confidence is what actually turns that knowledge into action, whether that’s starting to save, investing for the first time, or engaging with your pension earlier in life.”
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