Households are dealing with rising costs by turning off the heat (48%), and lowering their
grocery spending (37%), and even driving fewer vehicles (24%). However, more than half of UK adults (56%) believe they have already done everything possible to save money. Savings have also suffered. Almost one-third (30%) have no “savings buffer” to cover unexpected costs.[1].

Over nine million prospective homeowners -48% of all people planning to buy a home- now estimate they will need to postpone this goal, with nearly a fifth (18%) expecting it to be delayed by five years or more. A further 12% of prospective homeowners no longer believe they will ever own a home as a result of increased financial strains

WEDDING DREAMS DELAYED

Dreams of marriage (7.2 million potential brides and grooms – 47%) and parenthood (50% of those planning to have a/another child – 6.8 million people) have also been pushed back as a result.

Tomorrow we will look at how financial support and long term goals are being affected. Please contact us for more information on how we can help protect your future financial well-being and the options available to you.

Source data: [1] Opinium survey of 4,001 UK adults was conducted between 27–31 May 2022 for
Legal & General