New research* from digital bank Zopa reveals that four in ten (40%) Brits expect this Wednesday’s Government’s Autumn Budget to significantly affect their financial priorities over the following six months.
With the Budget coming amid protracted economic uncertainty, stubborn inflation, and concerns about rising unemployment and high borrowing costs, Zopa Bank’s Head of Savings, James Blower is offering the following tips to UK consumers:
- Diversify your savings: “The Cash ISA allowance is set to fall from £20,000 to £12,000. This isn’t something most savers need to be overly concerned about, unless you have significant savings balances. For those with larger deposits, moving some funds into investments may help you make the most of their allowances without paying additional tax.”
- Set your money goals: “In a challenging economic environment, planning for long-term financial goals can become more difficult. It’s important to set a budget and work out how much you need to save each month to reach your goals. New technology, including AI banking tools, can help make this process quicker and easier. Look for providers offering useful money management features, and consider whether you’re making the most of your bank’s benefits. If not, it may be worth shopping around for an account that better suits your needs.”
- Don’t always go for the highest headline rate: “Bonus offers are common across the savings market, but Brits should read the small print and compare the value of different accounts over time to choose the right offer for their needs. For example, a 4% AER rate with half as a bonus rate for six months will pay less over 1 year than a straight 3.25% AER rate.”
- Consider the right time to make a big purchase: “If you’re planning a major purchase using credit, it’s always important to make sure you can comfortably afford the repayments before applying. For those who can comfortably afford it, making a larger purchase before interest rates rise further could save money in the long term. As a rule of thumb, aim to always protect 3 to 6 months of essential living expenses for a rainy day.”
Further to these tips, Zopa’s research has also found:
o Two in five Brits (40%) say that Christmas specifically is changing their financial priorities, while more than a third (35%) also point to upcoming winter household costs.
o 54% say that what they need today from their money is different to what they needed a year ago (65% for 25-34 year olds).
o Four in ten (40%) current account holders haven’t used any bank benefits in the last year. One in five (21%) forget they exist and 18% say they’re irrelevant to their lifestyle.
o Almost two thirds (65%) think their bank benefits should evolve as their life changes, and 70% would be more likely to use a benefit tailored to their current spending habits.
*Zopa Bank conducted research via Censuswide of 2,000 UK adults, 28-30 September 2026. Findings quoted are based on 1,956 current account holders.
