Headlines are starting to tell us that things are getting better in the economy, but the pain of recent years lingers on leaving people feeling worse off and worried – about inflation, interest rates, the cost of living, pension planning, low salaries – the list goes on. We spoke to some real people to get beyond the headlines and start understanding how they really feel about money stuff. This is what they told us.
Summary.
We’re in permanent crisis mode due to rising costs
The pain doesn’t feel evenly distributed
Less disposable income + higher costs = fun is a luxury
They’re worried their kids will never own property
Money has a direct impact on family planning
Teaching kids about money is more important than ever.
We're in permanent crisis mode due to rising costs.
One common refrain is that Britain feels like it’s stuck in “permanent crisis mode.” Many respondents describe a day-to-day existence where the rising cost of essentials has transformed ordinary routines into stressful calculations, with meticulous planning and strict budgeting. The rising grocery bills, even at budget supermarkets, reflect a broader trend with people even describing the upward creep of prices at discounters Aldi and Lidl – the yardstick for affordable prices, who other retailers proudly price check against.
“It feels like we're never more than a couple of months away from a real crisis.” - Ben, 35
“Now we plan our meals and we stick to our list, no extra niceties. Before, I could just chuck stuff in the trolley. Imagine if I’d gone to Tesco when it’s 80 quid at Aldi!” – Eibhlinn, 53
“Weekly shops are getting worse. Even Aldi the prices are creeping up slowly.” – Sarah, 41
The pain doesn't feel evenly distributed.
People talked about how the impact of the financial crisis isn’t felt equally. Those who are already better off have more resources and more protection, making it easier for them to get through tough times. On the other hand, those without savings or assets – living month to month – face much harder challenges. It highlights how the pain isn’t shared equally and how it's often easier for the already wealthy to stay afloat when things get tough. “We’re in it together” messaging will likely fall on sceptical ears.
“Those that are very affluent and live in their big houses aren’t worried. For other people times are a lot harder; bills, food, childcare all going up. It’s a real juggle for families especially.” - Sarah, 41
“There’s always something around the corner that will catch people off guard, certainly for someone that’s maybe living a bit more paycheque to paycheque.” – Ben, 35
“Interest rates have been high. Which is good for savers but bad for people with mortgages. My mother’s generation had 13% interest rates and will have very little sympathy.” – Simon, 44
“We’re lucky because our mortgage is fixed so we know what’s going out.” – Eibhlinn, 53
Less disposable income + higher costs = fun is a luxury.
When disposable income is limited and costs are rising, things that were routine have become a luxury. Many simply can’t justify – or find the money for – things they used to enjoy doing in their leisure time, making such experiences feel like indulgences rather than necessities. Brands need to justify their premium to avoid falling off shopping lists.
“Even a simple burger costs around £15 at the pub now, compared to £9 a few years ago." - Simon, 44
“The cost of football matches and concerts has accelerated without any thought to the fans. With beer money and the train that’s easily a £250 day out.” – Ben, 35
“I want to go everywhere and do everything, but we just can’t. With holidays we have to really think about what we can and can’t afford to do.” – Eibhlinn, 53
They're worried their kids will never own property.
Many interviewees worry that their children will face a worse financial future than themselves and will struggle with high student debts and saving for a house deposit. This combination of financial pressures raises concerns about whether the next generation will be able to own a house at all, and challenges what counts as aspirational for younger groups.
“I just don’t think they'll be able to move out or get their foot on the ladder as easily as we did. So I don’t know how they’ll do. They’ll just have to get good jobs and get paid well, and we hope that will happen." – Eibhlinn, 53
“My student debt was probably around £23k, now it’s going to be up to £80k, the cost of housing will continue to go up and be harder and harder to put a deposit down. Compared to previous generations it’s going to get harder and harder to do that kind of stuff.” - Simon, 44
“We’ve inherited a shit economy. Uni prices are still going up more. My parents talk of when you could go to university for free, and now it’s getting more expensive and it’ll be even harder for my kids to get the same opportunities.” – Freddie, 19
“I can’t see them getting their foot on the property ladder AT ALL.” – Sarah, 41
“There’s a reliance on bank of mum and dad and the boomer generation passing it down. There’s not much going to grandchildren, who are finding it more expensive.” - Ben, 35
Money has a direct impact on family planning.
Financial pressures are influencing family planning decisions, with many choosing to have fewer children or delay starting a family. Rising living costs, including higher prices for essentials like food, childcare, and housing, make it harder for people to feel secure enough to grow their families. Economic uncertainty and escalating expenses are leading to smaller families and delaying starting a family for many.
“It won’t affect my decision to have them, but when to. I want two stable incomes, a house that’s suitable for children, and a job that would allow at least one of us to have time off.” – Freddie, 19
“We considered having another baby, but money was a factor in deciding not to. Things like going on holidays would be more expensive, we’d need a bigger car, we’d need a bigger house…” – Eibhlinn, 53
“Did it impact my decision to have kids? Maybe a bit. I want to retire, and with more kids the longer it’d take for me to do that, speaking from a perfectly selfish point of view.” – Simon, 44
“I just wanted to make sure that we owned a house before having kids. I don’t know why, but I felt that we needed that security.” – Sarah, 41
Teaching kids about money is more important than ever.
With rising living costs, increasing debt, and uncertain job prospects, many believe that teaching children about money and fostering a respect for it has never been more important. Ensuring children understand how money works is viewed as essential in equipping them to make informed decisions, build wealth, and avoid the financial struggles faced by their parents’ generation. Financial brands have found a role for themselves in facilitating this education – cannily understanding that early habits and associations can form into lifelong customers.
“When they were little they had a Go Henry card so they could go out and spend a bit. We instilled in them that if they had the money they could spend it, if they didn’t they couldn’t. We don’t help them out as often as we could, because we want them to know that we’re not the bank as they get older.” – Eibhlinn, 53
“I like to think I’d teach my kids the importance of finance from an early age. Not sitting down with a book about exchange rate funds, but certainly how to budget. That should be taught on the curriculum. No one tells you how to look after your money or where to put it or how to think about your future.” – Ben, 35
“It’s very important to me that they respect money and every time they break something, little or small, they know that it costs money to replace and emphasise value and stuff.” – Simon, 44
“My parents are big on finances and spreadsheets. My dad is harsh on me to save money. It’s the same when I go back home for summer to work, he’s going to put it all in savings.” – Freddie, 19
“I talk quite openly about money. We’ll go out on a Saturday and then on the Sunday they’ll ask what we’re doing and I’ll explain that we’re just going for a walk because we can’t afford to spend huge amounts going out both days - because of the mortgage and paying for food.” – Sarah, 41
