Published by: Financial Conduct Authority
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Key Take Aways
The Financial Lives Survey 2024 reveals a modest decline in consumer confidence in managing finances, with just 22% feeling highly confident, underscoring ongoing financial resilience challenges.
Awareness of the ability to access credit reports or scores from Credit Reference Agencies has increased to 81%, but significant variation persists across demographic groups, highlighting targeted education needs.
Approximately one-third (34%) of UK adults obtained or checked their credit report or score in the last year, reflecting a rising engagement in credit monitoring behaviour.
The proportion of individuals who paid a fee to check their credit has remained low at 5%, with those in financial difficulty more likely to incur costs.
A notable 10% of those who checked their credit report or score identified errors or issues, with success rates in rectification at nearly half (47%) within a month....
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