Financial well-being is growing in working population, report reveals

Confidence in financial wellbeing is growing amongst the UK’s working population with over two thirds (69%) of workers saying they feel financially resilient, up from 65% in 2023, according to new data from LV=.

Key findings from LV’s third ‘Reaching Resilience’ report revealed a notable shift in financial confidence for UK workers.

Additionally, around half of respondents reported that the right protection would further enhance their sense of resilience.

Almost one in five (18%) workers now consider themselves to be very financially resilient, a 4% increase in the past 12 months.

The report, which examined financial attitudes across diverse groups, also showed encouraging trends among parents of young children.

77% of this group reportedly felt secure, up from 63% in 2022, and just under four in five (79%) reported that they feel more resilient than a year ago.

These findings indicated a shift in outlook as people continue to successfully navigate external pressures, such as the cost of living crisis and ever-evolving economic conditions.

Despite rising confidence, gaps in financial protection remain, with almost half of workers (48%) lacking any form of protection cover.