More than two-fifths (42%) of people predict their finances will worsen over the next three months, according to a wealth and wellbeing tracker. LV= said the findings are the most downbeat since June 2020, when its quarterly survey started.
A similar proportion (44%) of the 4,000 people surveyed across the UK in March said their finances had already deteriorated over the previous three months. More than half (58%) of people said their total monthly outgoings have increased in the past few months and 23% are now saving less.
Pensioners were found to be particularly likely to say their spending has increased. Nearly two-thirds (65%) of retirees said their supermarket spend has increased in the past three months and 46% expect their finances to worsen over next three months.
