Almost a quarter of UK adults are feeling financially uneasy, with a significant number predicting rising spending in the months ahead, according to new research commissioned by TSB.
The survey of 2,000 people, carried out by Censuswide in April, revealed that 23% of respondents described their financial situation as “uncomfortable”, while nearly a third (32%) said they were not confident about their finances over the next six months.
As the cost-of-living pressures show little sign of easing, 42% of participants expect their spending to increase before the end of the year. Utility bills were cited as the most likely area of rising expense, followed closely by grocery costs and holiday spending.
The findings offer a snapshot into the financial mindset of the nation, highlighting both the pressures households face and the opportunities to make more informed financial decisions.
One area where money is being spent—often without real scrutiny—is on subscriptions. More than three in five people (61%) currently have one or more subscriptions, with an average monthly outlay of £61. However, over a third (34%) admitted to overspending in this area, and 17% said they had never reviewed or cancelled a subscription, suggesting that some are losing money on services they may not even be using.
TSB’s head of customer outcomes and vulnerability, Keely Newman, urged people to take more control of their day-to-day finances.
“There are steps people can take that really add up to their family finances – such as monitoring your account for unused subscriptions, and shopping around for the best utility deal. And for struggling households – do talk to your bank to hear the support measures that are out there.”
The research also revealed that more than half (56%) of those surveyed do not have a budget in place, indicating that many are navigating rising costs without a clear plan for how to manage their income and expenditure.
Despite these challenges, there are encouraging signs when it comes to financial conversations. Just under six in ten people (57%) said they talk openly about money with family and friends, which can play a crucial role in breaking down stigma and sharing advice.
However, many households could still be missing opportunities to save. One in seven (14%) admitted they never check utility, broadband or energy rates, potentially missing out on more competitive deals. Meanwhile, 38% of bill payers confessed they had never switched a utility provider, suggesting apathy or confusion around the switching process is costing consumers money.
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Experts recommend simple steps that can have a big impact on financial wellbeing, such as:
- Reviewing subscriptions monthly to identify unused services
- Setting a household budget to manage outgoings more effectively
- Shopping around for better energy and broadband deals
- Using price comparison sites
- Contacting debt help charities, such as StepChange or National Debtline, if bills become unmanageable
Consumers are also encouraged to check the Government website gov.uk to ensure they’re receiving any benefits they may be entitled to, as well as using online budgeting and benefits calculators, and checking their credit score regularly to understand and improve their financial standing.
As household bills continue to bite, the report paints a picture of a public that is increasingly aware of the pressure on their wallets—but still not always equipped with the tools or confidence to respond proactively.
TSB’s findings serve as a timely reminder that while financial discomfort is becoming more common, help is available—and small changes today could lead to more stability tomorrow.
