Survey: Understanding the financial lives of UK adults
Key findings:
- 24% of UK adults have little or no confidence in managing their money, and 46% of all UK adults report low knowledge about financial matters.
- Two million UK adults say they have a defined contribution pension, have received and read their annual statement in the last year, and did not understand it very well or at all.
- At least 4.5 million UK adults say they have been declined a financial product in the last two years.
- The FCA defines 4.1 million people as being in difficulty, because they have already failed to pay domestic bills or meet credit commitments in three or more of the last six months.
