One in four UK adults have low financial resilience: FCA

The latest Financial Lives report found that as of May this year 12.9 million UK adults, equivalent to one in four, had low financial resilience, defined as people who are in financial difficulty, or who could quickly find themselves in difficulty if they suffer a financial shock. This was described as a "much worse" result than the results recorded in the previous iteration of the report, conducted in February 2020, which found low financial resilience among 10.7 million UK adults. The report identified "a large jump in the proportion of adults who say they are heavily burdened by th...