Here’s how Brits are getting set to take control of their finances in 2021
British consumers reveal their financial plans for next year. Source: shutterstock.com
According to Metro Bank, 54% of Brits are determined to start managing money better, rising to two-thirds of 25-34 year old.
Besides, 65% of Brits aim to save more next year than they did this year, and more than half want to spend less. This rises to 79% and 62% respectively among 25-34 year olds.
At the same time, 8% say they are not planning on saving any money in 2021, with people, on average, aiming to save around £4,400 next year.
After saving more and spending less, the most popular finance-related resolutions for 2021 are:
- Reduce my debt (25%)
- Get out of debt (18%)
- Get a better interest rate on my savings (17%)
- Improve my credit score (15%)
- Create a personal budget (11%)
- Keeping a close eye on the festive spending
We’ve reported that nearly 20% of Brits have taken out a credit card to cover the personal cost of the COVID-19 pandemic.
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