14 million people plan to make a big financial change in 2015
Clearing debts (18 per cent) and taking greater control of their money (16 per cent) this year is key for many UK adults
Climbing the property ladder is a top priority for 2015, with a fifth (18 per cent) planning to move or buy their first home
As 2015 begins, the Post Office Financial Ambitions survey reveals the UK population is keen to take control of their financial future in the next 12 months with just over 14 million people [28 per cent] set to make a big change this year.
Clearing debts (18 per cent) and taking control of their money (16 per cent) are the top priorities for the UK’s adults, as they resolve to get their finances in order. Significantly more than one in ten (13 per cent) will consider switching to a new current account provider this year – an increase on the estimated two per cent who switched in 2014. Meanwhile one in ten people (10 per cent) will take out a new credit card, and nine per cent will switch card provider.
A fifth of UK adults (18 per cent) are also set to make one of the biggest decisions of their life as they move or buy their first home. Nearly one in ten (nine per cent) are first-time buyers who are likely to have been encouraged by the Government’s recent overhaul of the stamp duty thresholds.
Would-be buyers and movers’ confidence in their ability to climb the property ladder is mirrored in attitudes towards saving. Almost half (45 per cent) plan to put more away in 2015 than they did last year, in yet another sign they wish to be more in control of their financial future.
Nick Kennett, Director of Financial Services at Post Office, said: “People are looking to turn over a new financial leaf this year and seem to be feeling more confident in their finances and the economy than they have in a while. If the financial ambitions noted in our report happen then this will be a year of big changes for many.
“Providers must ensure they can meet this demand for products and services that help consumers to feel more in control of their finances. Post Office offers a range of financial services that provide assistance in managing and making the most of your money.”
