Brits becoming more ruthless with spending – new survey

An annual survey of some 2,000 adults found that 30% of those making cuts want to prioritise investing, with 19% of Brits hoping to smash their financial goals as soon as possible.

Others plan to cut back on luxury purchases (29%), fashionable items (29%) and everyday conveniences like takeaway coffees (18%).

Brits becoming more ruthless with their spending and ditching luxuries like takeaways and nights out

The yearly poll by saving and investing platform Moneybox, which tracks spending and how people are feeling about their finances for the year ahead, revealed rising living costs could be a major driver, with monthly grocery bills increasing by 14%, jumping from £313.09 to £355.66.

The typical monthly spend on rent and mortgages has risen from £531.97 to £657.58, a 24% increase between 2024 and 2025.

Some are already taking action, with outgoings on takeaways dipping by 9%, from £77.58 to £70.72.

Many hope these cutbacks will stretch their money even further, aiming to free up extra cash to achieve their main financial goals for the year ahead, such as building their emergency fund (28%), putting more money aside for retirement (20%) and home improvements (18%).

However, despite rising costs of living, 37% feel they’re in a better financial position than when the year began, compared to 19% who do not.

Brian Byrnes, director of personal finance at Moneybox, said: “Regularly reviewing your spending is one of the simplest and most powerful ways to build better financial habits.

“Small changes made consistently can unlock money you didn’t even realise you were spending.

“Even modest mindset shifts like committing to spending 30 minutes a week on your personal finances can make a meaningful difference to your financial situation over time.”

The research also found that 57% of those polled are optimistic they will continue to get their finances back on track in the new year.

Of those who are optimistic, 47% have a plan in place to save more, and confidence is building among the 28% who now feel more capable about managing their money.

Recommended Reading:

A spokesman for Moneybox added: “What this research shows is that people aren’t just tightening their belts, they’re becoming far more intentional about their money.

“Rising costs have forced tough choices, but confidence is growing as people get clearer on their goals and take action, whether that’s investing regularly, building an emergency fund or planning for the long term.

“When people feel informed and supported, financial confidence becomes the unlock that turns good intentions into better financial outcomes.”