A new report from Schroders Personal Wealth (SPW) has revealed that a significant portion of the population is deeply concerned about their finances, with 62% of respondents expressing varying levels of worry.
The Money and Mind Report 2025, which surveyed 1,000 UK adults to understand attitudes to finances and wellbeing, shows that financial concerns profoundly impact both mental and physical health. Those aged 35-54 were more concerned about their finances than older age groups, highlighting the challenges of balancing multiple financial responsibilities while potentially facing career uncertainties
For those with financial concerns, 79% reported that this affects their mental wellbeing, underscoring the importance of proactive financial management. 29% of those concerned indicated that financial worries affect them both mentally and physically, manifesting in symptoms such as sleep disturbances, headaches and other stress-related physical ailments.
41% of those surveyed said they have made sorting out their finances a top priority, a 5% increase from 2023. However, while 55% of respondents said they were likely to create a financial plan, only 8% currently had one in place. Loved ones were found to be the most common source of support for those with financial concerns, while just 6% consult a professional financial adviser, highlighting a gap in professional financial guidance that needs to be addressed. The report found that 22% believed financial planning would be too expensive, underscoring the importance of affordable, accessible financial advice to help people manage their money better and reduce any negative impacts on wellbeing.
Key findings:
• 62% of respondents concerned or very concerned about finances
• 79% of those with financial concerns report that their financial situation impacts their mental wellbeing
• 70% are worried about the impact of the cost-of-living crisis
• 55% are likely to make a financial plan but only 8% currently have one in place
• 33% confide in a loved one, while only 6% discuss their money worries with a professional financial adviser
• 22% think financial planning would be too expensive
• 41% have made sorting out their finances a top priority, a 5% increase from 2023
Ben Waterhouse, chief client officer at Schroders Personal Wealth, said: “This report highlights the importance of financial wellbeing and the critical role that financial planning can play in supporting individuals. By understanding key concerns and priorities, we can develop strategies and solutions that not only help alleviate financial stress but also aim to enhance overall wellbeing. We hope that the insights from this report will inspire meaningful conversations and actions towards a more financially stable and mentally healthy future.”
Alice Harmer, personal wealth adviser at Schroders Person Wealth, added: “Achieving financial goals requires more than just good intentions; it needs a well thought-out plan and the right guidance. As financial advisers, our role is to help clients navigate the complexities of financial planning, from budgeting and saving to investing and retirement planning.
“We provide the expertise and insights needed to make informed decisions that align with their long-term objectives. By working with a financial adviser, individuals can gain clarity on their financial situation, set realistic goals, and develop a plan that aims to achieve them. This personalised approach ensures that individuals are not only prepared for the future but also able to enjoy peace of mind knowing they are on the right path.”
