How does what’s going on in the wider world affect the way you feel about your own financial situation? For over a year now we’ve seen the UK economy grow again and in his most recent Budget, Chancellor George Osborne declared that “the sun is starting to shine”. But is that broader economic improvement trickling down into your own finances? Are you feeling any difference in your back pocket?
With the General Election fast approaching, and a new financial year just around the corner, it feels as good a time as any to take a step back and try and explore these questions.
To help us do this, we commissioned a leading national polling firm to ask these big questions for us. Here are some of the most eye-catching results, which paint a clear picture.
- A quarter (25%) of people across the UK feel better off now than 12 months ago
- Only 16% said the same thing this time last year
- At the same time, those saying they are worse off now has plummeted from 40% in 2014 to 23% this year
Source: Opinium Research
Regionally, the figures reveal a fascinating split. The region feeling the best off compared to last year – the North East - isn’t necessarily where you’d expect.
Source: Opinium Research
For the majority of people across the country, economic growth is not just confined to official numbers and a happier sounding Chancellor. Our research tells us that more people actually feel better off now than they did twelve months ago – so growth is having a positive impact across the country.
What do you think? Following the recent Budget, we’d like to hear your outlook for the British economy. So far nearly seven in ten of you have told us you were ‘somewhat’ or ‘very’ confident, with only 13% feeling unconfident. To have your say here
, where you will find the poll at the bottom of the Budget Round Up blog.
Poll snapshot as at 24/03/2015
With the economy improving and people’s finances beginning to improve, how might that change your investment activity? You’ve told us that it’s helpful to test out different investment scenarios to get a sense of how things might look if you made changes to your portfolio.
That’s why we offer Play Space. It gives you real investing experience, but without exposing your own money to the ups and downs of the investment markets. Play Space offers you the tools to build a virtual portfolio for you to manage and monitor its performance over time, until you’re ready to invest. Essentially, it’s a free way to practice your investing skills. What's more, we have play Space competition about to start on 1st April, it's free to join and you could win one of our fabulous prizes!
To learn more about Play Space, please click here
Opinium Research conducted an online survey from the 13th to 16th February 2015, amongst 2,001 UK adults aged 18+. Results have been weighted to nationally representative criteria.