Particle.news
Download on the App Store
7 ARTICLES
·
last wk.

FCA Data Reveals Persistent Financial Vulnerability Among UK Adults

One in four adults struggles with low financial resilience, underscoring widespread savings gaps, rising debt, and limited emergency preparedness.

Image
Tourists walk across Westminster bridge, with the Elizabeth Tower, commonly known as Big Ben, and the Houses of Parliament behind, in London, Britain, January 31, 2025. REUTERS/Isabel Infantes/File Photo
Image
Image

Overview

  • The Financial Conduct Authority reports that 24% of UK adults have low financial resilience, with 13.1 million struggling to manage unexpected costs or debts.
  • One in 10 adults has no emergency savings, while 21% have less than £1,000 set aside, leaving them ill-prepared for financial shocks.
  • Nearly two-fifths of adults carry unsecured debts, with a median amount of £2,500, highlighting the growing burden of credit commitments.
  • Around 900,000 adults remain unbanked, though this figure has improved from 1.1 million in 2022, reflecting progress in banking inclusion efforts.
  • Regulators are enforcing the Consumer Duty and promoting affordable financial advice, but significant gaps persist in retirement savings and fraud prevention.