A third (34%) of Brits have said they will be more in control of their short and long-term finances as they set out their financial objectives for 2024, Tesco Bank has found.

This trend in taking control of finances increases to nearly half (49%) of young people aged 18 to 34.

In research by Tesco Bank, it was found that almost a third (32%) of people agree that 2024 will be the year in which they will make better financial decisions.

Three in 10 (30%) said they feel more confident talking about financial goals and savings, with over a quarter (28%) saying they feel empowered by their financial position.

Research by the bank also revealed that almost a third (32%) of Brits surveyed have increased their savings in the last six months, rising by an average of £1,540.

Furthermore, three in 10 (29%) said they believe their savings will grow further in the next six months.

Tesco Bank found that this financial optimism varied across the country, with two in five (40%) consumers in Manchester stating that they expect their savings to grow in the next six months.

However, Leeds was the least optimistic location, with almost half (46%) of people expecting their savings to decrease in the same period.

Spend and save director at Tesco Bank, Ban Mahsoub, said: "Setting new financial objectives means taking control of our finances. Many of us want to feel more confident, to be able to talk about our financial goals with friends and family, and to feel financially empowered.

"Now is the time to channel that optimism into learning more about managing our money. Even simple steps like getting to grips with budgeting, consolidating your debts, or shopping around for the best savings accounts can put you in a better position to reach any money goals you may be setting."

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