The MMI Spring Edition 2024

The pain for households has shown little signs of stopping over the past year.

The Bank of England continued to raise interest rates, reaching 14 consecutive events before peaking at 5.25%, the highest since April 2008. This rate has since been held during four further reviews to date, with experts not yet aligned on when any significant fall can be expected.

The OBR’s confirmation that real living standards in 2024 will be 3.5% lower than their pre-pandemic level, the largest fall since records began in 1950, also demonstrates just how serious the situation is – particularly for those already struggling day-to-day and with their future planning.

So, are people able to respond in any meaningful way to improve their situation? We spoke to 2,000 adults – ranging in age from 18-65 and living across the UK – to gauge their feeling about their own financial footing and
how able they are to begin to build their wealth.

We’d love for you to read our report by clicking here.