Credit, Collections & Insolvency News
New research by Go.Compare Money has revealed Britain’s biggest money concerns for the new year, with 45% of people saying they are anticipating a bad year financially.
The survey asked consumers about their feelings towards their finances as the new year begins, as well as their top money worries. It found that more women (47%) than men (43%) admitted that they are anticipating a bad year financially in 2025, with the rising cost of living coming out as the top concern (46%) and three in 10 saying they were worried about not having enough savings.
The data showed that 18-24 year olds are most worried about maintaining mortgage payments in 2025, with 14% citing it as a top financial worry – 5% higher than the average of 9%. While those aged 55 to 64, say that the top concern was saving for their retirement, with (26%) saying it was their top financial worry.
Looking across the UK, 50% of those in the South West say they are anticipating a bad year financially in 2025, followed closely by those in the South East and East Midlands (49%) and in Wales (48%). On the other end of the scale, it’s Londoners with the most optimism, with two-thirds anticipating a good year financially, followed by Northern Ireland (63%) and those in the North East (59%).
Matt Sanders, Money Spokesperson at Go.Compare said “The new year is a great time to sit down and evaluate your finances. Take a look at what you are paying for – is there anything you don’t use anymore? Can you shop somewhere cheaper for groceries? Are you spending too much on lunch? With so many people worried about what 2025 will have in store for them financially, taking a look at your current outgoings and where you can make some savings is always a good place to start.
