Almost half of people say uncertainty around money makes them anxious

New research by Moneybox has found that half (50%) of respondents said rising costs of everyday expenses (e.g. bills, food, transport) were triggering feelings of anxiety or stress when it comes to their money. A further third (34%) said unexpected expenses or emergencies (e.g. car/home repairs, family emergencies) and a fifth (22%) mentioned a general feeling of not being on top of their financial situation as a factor.

Almost half of UK adults (48%) say uncertainty around money makes them anxious, while two in five (42%) feel overwhelmed when planning their financial future. More than a third (35%) want to feel more in control of their finances but admit they don’t know where to start. This lack of confidence can quickly, if not carefully managed, become a vicious cycle, with a further third (34%) saying they sometimes feel shame or guilt about not managing their money better – feelings that are likely to undermine their confidence even further.

When asked how money makes them feel, ‘anxious’ (25%) was top of the list. Although more positive emotions such as feeling ‘confident’ (23%), ‘optimistic’ (21%) and ‘calm’ (16%) feature, they are consistently overshadowed by fear-driven thinking. One in five feel ‘stressed’ (21%) or ‘uncertain’ (20%).  While people also feel ‘overwhelmed’ (16%), ‘nervous’ (16%) and ‘insecure’ (13%). This points to a growing risk of becoming too financially cautious, where worry and self-doubt lead to inertia.

Professor of Psychology Adrian Furnham said, “This research shows that for millions of people, money is shaped by what we call ‘inherited inertia’. Our financial behaviour is deeply complex and often rooted in habits formed long before we opened our first bank account. From childhood pocket money, to observing the behaviour of parents, relatives and teachers, we absorb ‘money-grams’ — subconscious messages about money that stay with us into adulthood.”

Fewer than half (49%) say the money values or attitudes they learned from their parents had a positive impact on their financial futures. One in five (18%) grew up seeing their parents or guardians stressed about money, while one in six (17%) witnessed anxiety about finances. Two in five (41%) were also taught to “never live beyond your means” – a message intended to promote responsibility, but one that may have unintentionally encouraged overly cautious saving behaviours.

Professor Furnham continuedc“It is telling that 82% of people admit their past experiences influence their current financial choices, and for many this results in a strong tendency towards risk aversion. For many of us, the task is to gently unlearn these unhelpful money-grams in order to reach our full financial potential.

“To do this, we must recognise that our brains are naturally wired for loss aversion. We feel the pain of a potential loss far more strongly than the pleasure of a possible gain. However, we can break this cycle by shifting the narrative from ‘risk’ to ‘opportunity cost’. The goal is to move from a mindset of ‘not losing’ to one of ‘winning’. Doing so can help rewire our relationship with money and lead to a more confident and secure long-term financial future.”

Brian Byrnes, Director of Personal Finance at Moneybox, said “Encouraging smart financial decisions shouldn’t be about pressure, but small, manageable steps that build confidence and a sense of control. Feeling secure about money is ultimately about making informed choices that balance today’s needs with future priorities, making long-term planning feel more accessible for everyone.”