The study found average assets, comprising cash savings, investments, and pensions, dropped over the past year from £197,106 to £183,781 as apprehension grows over key financial decisions, including mortgages, borrowing, pensions, and investments.

The study warned that 20% of UK adults have no financial safety net, while 42% have a rainy-day fund and 37% have an emergency fund. Among those with an emergency fund, around 11% estimate that it would last no more than a month, potentially leaving them with little room to manage a loss of income, a major household expense, or any other financial emergency.

Almost 24% of women have no financial safety net, compared with 16% of men. The highest proportions were recorded among women aged 18-24 and 45-54, with nearly a third of both groups lacking any safety net.

Women also report greater concern about many of the pressures affecting household finances. More than three-quarters are worried about the cost-of-living crisis or a recession (76%, compared with 67% of men) and energy prices (76% versus 67%), while 43% are scared they will run out of money, compared with 36% of men.

The study was conducted by independent research company Opinium among a nationally representative sample of 4,000 UK adults from 7 to 14 January 2026.

Respondents were chosen on a nationally representative basis, weighted evenly by gender, age, region and value of financial assets. Of the overall sample, 1,931 (48.4%) were male and 2,061 (51.5%) were female, while 805 (20.1%) had a net worth of more than £100,000. 

It also found that 33% of UK adults now feel apprehensive about making investment decisions on their own, up from 26% last year. Apprehension around pensions has risen by the same amount, climbing from 19% to 26%.

Concern is also spreading to immediate financial commitments. The proportion uneasy about making mortgage decisions has increased from 15% to 21%, despite a series of bank rate cuts since August 2024, while apprehension around personal loans has jumped from 13% to 20%.

Four in ten people now have responsibility for overseeing pensions, up from 37% last year, while 32% oversee investments, compared with 28% in 2025. Responsibility for mortgages has also risen, from 23% to 25%.

Wider financial pressures remain intense. Nearly three-quarters are concerned about the effect of the cost-of-living crisis or a recession on their finances (72%), while similar proportions are worried about energy prices (71%) and inflation (69%). 

Stephen Cowling, head of Wealth at Handelsbanken, said: “Financial anxiety is now touching almost every major decision people make, from mortgages and personal borrowing to pensions and investments. The danger is that anxiety becomes paralysis, with important choices delayed until circumstances force the issue.

“Building resilience will look different for every household, especially when day-to-day costs are already stretched. Good advice cannot remove those pressures, but it can help people understand their position, prioritise the next step and make better use of the resources available to them.

“Whether the starting point is building an accessible emergency reserve, reviewing borrowing or bringing pensions and investments into a wider plan, engaging early usually leaves people with more choices than waiting until a financial shock has already happened.”