Financial wellbeing in October 2026
In this article
- Summary
- Consumer confidence in their future household situation has worsened
- On average, close to six in ten have been gloomy about the future of the UK economy in our surveys since the General Election
- The missed payments rate is unchanged
- The number of households making financial adjustments worsens for a second month
Summary
- Consumer confidence in their future household finances has reduced by four points from September’s value. It now stands at -16 points.
- Confidence in their current household financial situation and view on the future of the UK economy both reduced one point. They now stand at +18 and -45 points respectively.
- The proportion of households missing payments was static; standing at 7.1%. The proportion of households making financial adjustments worsened by 1.7 percentage points from the prior month to now stand at 53%.
Consumer confidence in their future household situation has worsened
Consumer confidence in their future household financial situation now stands at -16 points in October. This is the difference in percentage saying they think it will get a little better or a lot better over the percentage saying it will get a little worse or a lot worse. This is now the second consecutive monthly drop and continues the downward trend from July's peak of -7 points. The drops in September and October pulls household sentiment back nearer to the 2026 low in April of -23 points The monthly average since the last General Election in July 2024 is -12 points.
Confidence in the future UK economy now stands at -45 points. This is the difference in percentage saying they think it will get a little better or a lot better over the percentage saying it will get a little worse or a lot worse. This had climbed to -36 points in August from a low of -62 points in April 2026. The -45 points October value is lower than the monthly average since the last General Election of -43 points.
Confidence in their current household financial situation now stands at +18 points. This is the difference in percentage saying fairly good or very good over the percentage saying it fairly poor or very poor. This metric has been generally steadier than the forward looking confidence metrics. The October value of +18 points is lower than the monthly average since the last General Election of +22 points.
Figure 1: monthly consumer confidence ratings since the last General Election (July 2024)
* current household financial situation = % saying good - % saying poor. * future household financial situation = % saying better - % saying worse. * future UK economy = % saying better - % saying worse.
Source: Which? Consumer Insight Tracker. Approximately 2,000 respondents per wave. UK level data are weighted to represent the adult population of the UK by age, gender, region, social grade, working status and housing tenure. Q texts: How would you describe the financial situation of your household at the moment?; And do you think the financial situation of your household will get better, worse or stay the same over the next 12 months?; and, Do you think the UK economy will get better, worse or stay the same over the next 12 months?
On average, close to six in ten have been gloomy about the future of the UK economy in our surveys since the General Election
The average of the 27 monthly survey results since the last General Election show that the majority of consumers remain gloomy about the UK economy, with close to six in 10 (57%) who said it will get worse, compared to just 15% who think it will get better.
When looking at the average of the 27 monthly personal finance results, households are somewhat more resilient. Four in 10 (41%) expect their future household financial situation to stay the same over the coming year. Meanwhile, views on ‘current financial situation’ show the most positive outlook, with twice as many adults having rated their present situation as good (43%), compared to those who rate it as poor (21%).
Figure 2: component values within confidence levels since the last General Election (July 2024) and October 2026 values for comparison
* current household financial situation = % saying good - % saying poor. * future household financial situation = % saying better - % saying worse. * future UK economy = % saying better - % saying worse.
Source: Which? Consumer Insight Tracker. Approximately 2,000 respondents per wave. UK level data are weighted to represent the adult population of the UK by age, gender, region, social grade, working status and housing tenure. Q texts: How would you describe the financial situation of your household at the moment?; And do you think the financial situation of your household will get better, worse or stay the same over the next 12 months?; and, Do you think the UK economy will get better, worse or stay the same over the next 12 months?
The missed payments rate is unchanged
In the month to 14th October the missed payment rate was unchanged at 7.1% (i.e. households who missed a household bill, credit card payment, or mortgage/rent payment). Looking at the missed payment rates since the General Election the recent few months have been undramatic. However, rates have crept up a little from 6.8% in July to now 7.1%.
Figure 3: Percentage of households who missed any household payments - values shown are since the last General Election (July 2024)
Source: Which? Consumer Insight Tracker. Approximately 2,000 respondents per wave. UK level data are weighted to represent the adult population of the UK by age, gender, region, social grade, working status and housing tenure. Question text: Which of the following has your household done relating to the following payments in the last month: Mortgage payment; Rent payment; Loan or credit card payment; Bills (e.g. phone, utilities, council tax) - Missed or defaulted on a payment
The number of households making financial adjustments worsens for a second month
The proportion of households making a financial adjustment to cover essential spending (such as cutting back on essentials, dipping into savings, selling possessions or borrowing) has risen by 1.7 percentage points to stand at 53%. This is the second monthly rise. The 53% value means over half of households are making some form of financial adjustment. The two latest rises means the 3-month rolling average has started to turn adverse as well.
Figure 4: percentage of households making any financial adjustments - values shown are since the last General Election (July 2024)
Source: Which? Consumer Insight Tracker. Approximately 2,000 respondents per wave. UK level data are weighted to represent the adult population of the UK by age, gender, region, social grade, working status and housing tenure.
Question text: Which, if any, of the following adjustments has your household made to cover essential spending in the last month?: Used an overdraft facility; Took out a new credit card or borrowed more than usual using an existing card; Borrowed money or received financial support from friends/family; Took out a short term loan; Cut back spending on essential household items compared to last month; Took money out of a savings account; Sold or pawned belongings; Used a Buy Now Pay Later product for essentials such as groceries; Other similar financial action
Methodology
Fieldwork for Which?'s Consumer Insight Tracker has been conducted monthly by Yonder on behalf of Which? Each wave’s data is weighted to represent the adult population of the UK by age, gender, region, social grade, working status and housing tenure. The latest wave of data collection took place between 14th to 16th October. A sample of 2,132 UK adults were surveyed online and weighted to be nationally representative.