Daily spending and financial concerns

Part of the Life Well Spent Report 2026

Is the cost of living affecting our daily spending, and what financial concerns do we have?

Almost two thirds of over 50s are paying more for the weekly shop

The research for this study was conducted in summer 2026, and the high cost of living is still affecting many in the UK, with people over 50 especially impacted.

73% of over 50s have increased spending on energy bills in the past year, compared to a national average of 66%. And 70% of over 50s also reported an increase in their other bills, compared to a 62% national average.

What’s more, due to the pressures of inflation, 64% of over 50s are spending more on their weekly shop, and three-fifths of UK adults are doing the same. Although this is 3% less for over 50s since 2025, it’s still 13% more than our first report in 2022. Plus, 50% of over 50s have increased their fuel and transport spending – a 7% increase on last year, showing the effects of global politics on individuals’ purses.

But, we are spending less treating our furry friends. Last year, 46% of over 50s increased their spend on their furry friends. However, this year, only 43% of over 50s are spending more on their cats and dogs.

What people over 50 are spending more on

	2026	2025
Energy bills	73%	75%
Other bills (e.g. insurance, phone)	70%	68%
Weekly shop	64%	67%
Fuel and transport	50%	43%
Pets	43%	46%

Takeaways and meals out are the first to go

In a year that's seen significant cost increases across food and drink, labour and other consumer goods, takeaways and meals out are the most common areas for over 50s to cut back in 2026. 40% are spending less on both takeaways and meals out compared to last year. Over 50s seem to be cutting back slightly more than under 50s, as just 31% of the latter group have decreased spending on takeaways and meals out.

What over 50s are spending less on

	No change to spending	Decreased spending
Energy bills	22%	5%
Other bills (e.g. insurance, phone)	26%	4%
Weekly shop	25%	11%
Fuel and transport	36%	14%
Pets*	53%	4%
Gifts to children/grandchildren*	58%	15%
Holidays	44%	31%
Home renovation	55%	24%
Clothing	50%	30%
Meals out	40%	40%
Debt repayments (e.g. mortgage, credit cards)	67%	14%
Activities/days out	49%	33%
Hobbies/interests	66%	19%
Alcohol	56%	30%
Takeaways	50%	40%
Gym/sports	69%	22%
Beauty treatments	67%	25%
Charitable giving	64%	27%

*Based on those with pets/children/grandchildren only

After a fall over the past few years, financial concerns are rising once again

It’s a relief to see that the amount of over 50s with no financial worries at all has risen to 18% from 9% in 2025, (an increase of 7% since our first report in 2022). While the percentage of over 50s worried about each financial concern has been dropping since 2023, this year, the figures have jumped back up to the same levels as 2024. This suggests that those who do have concerns have more of them than in previous years. Across all UK adults, 13% have no financial worries at all.

The rising cost of living is the most common financial concern for 63% of over 50s – an increase of 8% on last year and 5% above the national average. But it is still 12% lower than the 75% in 2022. Those aged 50 to 59 are more likely to name it as their top concern (67%) compared to 18 to 29 years old (52%).

Unfortunately, the percentage of people over 50 worried about running out of money during retirement, and unexpected costs, have both increased between 2025 and 2026. Unexpected costs increased from 28% to 41% and running out of money during retirement increased from 28% to 30%.

Perhaps surprisingly, 18- to 29-year-olds worry about how their loved ones are managing financially more than any other age group (22%).

Biggest financial concerns for over 50s

	2026	2025	2024	2023
The cost of living rising (e.g. energy bills, food shop, fuel)	63%	55%	63%	73%
Sudden unexpected costs	41%	28%	40%	44%
Running out of money during retirement	30%	28%	34%	37%
Value of your pension	19%	19%	26%	24%
Paying for long-term care for myself	19%	14%	20%	21%
Outstanding debts	19%	12%	18%	19%
How my loved ones manage financially	17%	15%	23%	27%
New for 2026 Paying for any healthcare costs if I became ill	14%
New for 2026 Losing my job or being made redundant	9%
The cost of loans and credit increasing	9%	4%	9%	11%
Outstanding mortgage	4%	3%	7%	7%
None of these	18%	9%	17%	12%

Money worries: men versus women

While both men and women have financial worries, a higher proportion of women worry about almost every single financial concern. The only exceptions are ‘losing my job or being made redundant’, ‘the value of my pension’ and ‘the value of my investments’.

The only categories where both sexes worry the same amount are ‘the cost of loans and credit increasing’ (14%) and ‘paying for long term care for my parents’ (6%). Women’s biggest worries are the rising cost of living, sudden unexpected costs, running out of money during retirement, and outstanding debts.

Only 10% of women report being free from financial concerns, but this is an increase of 2% on 2025. 17% of men say they have no money worries, up 5% since 2025.

Regional worries

Certain differences in financial concerns can be seen across the UK.

Scotland is the most worried about the rising cost of living, at 69%, with Northern Ireland the least, at 46%. Regionally, Northern Ireland is also the least worried about sudden unexpected costs, at 32%, compared to Yorkshire at 44%.

Those in East Anglia are the most likely to have no money worries at all, at 18%. Whereas only 9% of those in the West Midlands can say the same. In comparison, at 10%, Northern Ireland is worried the least about the value of their pension, compared to Scotland at 18%.

Interestingly, Londoners are the least worried about running out of money during retirement (20%), whereas the most worried are those in the South West (31%).