LV= uses indices to track overall changes to spending, saving and finances. The indices are calculated by taking the percentage who stated a positive change over the past three months (e.g. increase/ better) and subtracting the percentage who stated a negative change over the past three months (e.g. decrease/ worse), to work out the overall impact.
- Financial outlook: The index measuring financial outlook for the next three months was -36 in December 2022 compared to -49 in September 2022. A negative index means more people think their finance will worsen over the next three months compared to those who think it will improve. The index has improved by +13 indicating fewer people have a negative outlook compared to the previous quarter. Some 46% (25m) expect their finances to worsen over the next three months while 10% (6m) think it will improve.
- Finances over past three months: The index measuring people’s finances over the past three months was -49 in December 2022. The negative index indicates that more people say their finances have got worse over the past three months than those saying their finances have got better. However, this index is a small improvement compared to September 2022 when the index was -52, indicating finances may be starting to improve for some. 58% (31m) say their finances have deteriorated over the past three months while 9% (5m) said it had improved.
- Income and outgoings: The index measuring income improved, rising from 5 to 9, as some workers are experiencing pay rises. However for many this is not enough to offset rising outgoings. The index measuring outgoings rose from 57 to 59. Many more people (69%/37m) say their outgoings have increased compared to decreased (10%/5m).
- Savings index: Savings remains low. The index measuring amount saving was -16 in December 2022 from -17 in September 2022.
- Spending on socialising and at the supermarket: The index measuring spending at the supermarket was 57 in December 2022, compared to 48 in September 2022. A far greater proportion of people (68% or 36m) say their supermarket spend has increased compared to those who say it has decreased (12% or 6m), while 32% (17m) are spending less money on socialising
| Jun-20 | Sep-20 | Dec-20 | Mar-21 | Jun-21 | Sep-21 | Dec-21 | Mar-22 | Jun-22 | Sep-22 | Dec-22 | Index change vs. last quarter | |
| Financial outlook over next three months | ||||||||||||
| Improve | 17% | 14% | 12% | 18% | 17% | 15% | 14% | 10% | 11% | 8% | 10% | |
| Worsen | 23% | 22% | 26% | 20% | 18% | 20% | 25% | 42% | 43% | 57% | 46% | |
| Index | -6 | -8 | -14 | -2 | -1 | -5 | -12 | -31 | -32 | -49 | -36 | +13 |
| Finances over past three months | ||||||||||||
| Better | 17% | 14% | 11% | 18% | 16% | 15% | 13% | 10% | 9% | 7% | 9% | |
| Worse | 35% | 32% | 36% | 27% | 25% | 26% | 33% | 44% | 53% | 59% | 58% | |
| Index | -18 | -18 | -25 | -9 | -8 | -11 | -20 | -34 | -44 | -52 | -49 | +2 |
| Income from work | ||||||||||||
| Increase | 10% | 10% | 13% | 16% | 18% | 17% | 17% | 16% | 17% | 17% | 19% | |
| Decrease | 21% | 20% | 20% | 15% | 12% | 9% | 10% | 11% | 10% | 12% | 10% | |
| Index | -11 | -10 | -7 | 1 | 6 | 8 | 7 | 5 | 7 | 5 | 9 | +4 |
| Total monthly outgoings | ||||||||||||
| Increase | 23% | 25% | 19% | 22% | 31% | 38% | 48% | 58% | 61% | 67% | 69% | |
| Decrease | 32% | 23% | 35% | 33% | 18% | 12% | 9% | 9% | 12% | 10% | 10% | |
| Index | -9 | 2 | -16 | -11 | 14 | 26 | 39 | 49 | 49 | 57 | 59 | +3 |
| Amount saving | ||||||||||||
| Increase | 23% | 19% | 23% | 27% | 21% | 18% | 16% | 18% | 17% | 16% | 17% | |
| Decrease | 14% | 18% | 24% | 17% | 19% | 19% | 20% | 23% | 30% | 33% | 33% | |
| Index | 8 | 1 | -1 | 10 | 2 | -1 | -3 | -6 | -13 | -17 | -16 | +1 |
| Amount paying into pensions | ||||||||||||
| Increase | 8% | 8% | 9% | 10% | 10% | 10% | 11% | 13% | 14% | 13% | 14% | |
| Decrease | 7% | 8% | 13% | 8% | 7% | 6% | 7% | 6% | 8% | 10% | 8% | |
| Index | 1 | 0 | -4 | 2 | 3 | 4 | 3 | 6 | 5 | 3 | 6 | +3 |
| Spend at the supermarket | ||||||||||||
| Increase | 42% | 35% | 30% | 33% | 29% | 36% | 46% | 56% | 58% | 63% | 68% | |
| Decrease | 15% | 14% | 18% | 15% | 13% | 10% | 10% | 10% | 15% | 14% | 12% | |
| Index | 27 | 21 | 13 | 18 | 16 | 26 | 36 | 46 | 43 | 48 | 57 | +8 |
| Spend on socialising | ||||||||||||
| Increase | 7% | 11% | 8% | 7% | 22% | 28% | 21% | 20% | 21% | 19% | 19% | |
| Decrease | 60% | 48% | 61% | 54% | 31% | 22% | 23% | 24% | 31% | 33% | 32% | |
| Index | -53 | -37 | -52 | -47 | -9 | 6 | -2 | -4 | -10 | -14 | -13 | +2 |
Notes to Editors
*LV= surveyed 4,000 nationally representative UK adults via an online omnibus conducted by Opinium in December 2022.
UK population stats from ONS. Total UK adult population is 53.2m UK adults (aged 18+).