Financial wellbeing in March 2025
Summary
- This month, consumer confidence in the future UK economy declined to -46, whilst confidence in current household finances rose to +27.
- The proportion of consumers missing at least one payment this fell to 6.7%. Specifically the rent missed payment rate decreased to the lowest proportion ever recorded (1.9%).
- Out of those who missed a payment this month, three in ten (28%) missed more than one payment, and almost six in ten (57%) stated that it wasn’t their first time missing a payment in the last 12 months, suggesting some consumers are facing considerable and ongoing financial challenges.
- The rate at which households made financial adjustments to cover essential spending remained at 51%, consistent with last month. There was a decrease in the proportion of pensioner households making adjustments, but an increase among working age parents.
Consumer confidence in future UK economy declines
This month consumer confidence decreased by six points to -46. This represents six in ten (61%) consumers believing the UK economy will get worse and 15% believing it will get better. Meanwhile, confidence in future household finances has seen little change to last month, decreasing by one point to -9.
In comparison, consumers are feeling more confident about their current household finances, with this score increasing by six points to +27, returning to levels seen in November 2024.
Consumer confidence in current household finances increases to +27
Source: Which? Consumer Insight Tracker, Online Poll weighted to be nationally representative, approx 2,000 respondents per wave.
Some consumers have missed multiple payments this month
The proportion of consumers who missed at least one payment in the last month decreased by 1.2 percentage points to 6.7%. Looking more closely at the type of missed payment, the proportion of consumers who missed a rent payment fell to 1.9%, marking the lowest missed rent payment rate ever recorded.
However, of the consumers who missed a payment this month, three in ten (28%) missed more than one payment, suggesting that some consumers are facing notable financial challenges. Additionally, of the consumers who missed a payment this month, almost six in ten (57%) stated that it wasn’t their first time missing a payment in the last 12 months, indicating they face ongoing financial difficulties.
The missed rent payment rate fell to 1.9% in the month to March 14th
Source: Which? Consumer Insight Tracker: Approximately 2,000 respondents per wave. UK level data are weighted to represent the adult population of the UK by age, gender, region, social grade, working status and housing tenure.
The proportion of pensioners who made an adjustment to cover essential spending has decreased
The proportion of households having to make a financial adjustment to cover essential spending has remained consistent to last month at 51%. Adjustments include cutting back on essentials, dipping into savings, selling possessions or borrowing.
Looking more closely at family type, the financial adjustment rate for pensioners decreased by six percentage points to 29%. In comparison, working age parents saw a three point increase to 66%, and working-age non-parents’ financial adjustment rate remained consistent to last month at 51%.
This month the financial adjustment rate remained at 51%
Methodology
The fieldwork was conducted by Yonder on behalf of Which between the 15th and 17th of March 2025. A sample of 2,083 UK adults were surveyed online and weighted to be nationally representative.