More expecting finances to improve

Nearly one in five people expect their finances to improve in the next few months, as coronavirus restrictions are gradually eased and the vaccination rollout continues, a report has found.

Pensions and retirement specialist LV= says some 18% of people surveyed in March expect to see an improvement in their finances over the next three months – up from 12% who believed this when a similar study was carried out at the end of last year.

Around 4,000 people were surveyed for the latest report and the findings also suggest more people have been able to build up a savings buffer recently.

Just over a quarter (27%) in the latest survey said they have increased their savings over the past three months, compared with 23% surveyed at the end of 2020.

The research also asked people if they were worried about contracting coronavirus.

In March, 23% of people said they were worried – down from the 32% of people who were surveyed in December.

The Government has emphasised the importance of sticking to the rules and remaining vigilant, in order to limit the spread of the virus.

Clive Bolton, managing director of savings and retirement at LV=, said: "The last three months have been difficult for millions of people, but increasing numbers are becoming more optimistic about the future.

"Our research indicates that, although many people are still struggling financially, fewer people are worried about contracting Covid and an increasing proportion expect their finances to improve over the next three months."