Investment confidence among UK adults increased by 25 per cent year-on-year in 2024, research by Moneybox has revealed.

The saving and investment platform’s annual Investing Money Mindsets study, which comprised 2,000 UK adults, found that 65 per cent said they were confident in investing, an increase of a quarter (25 per cent) compared to 2023.

This included 87 per cent of those aged 25-34 and 75 per cent of those aged 18-24, which reflected annual increases of 15 per cent and 10 per cent, respectively.

Moneybox also revealed that 31 per cent of UK adults were actively investing in 2024, a 5 per cent jump on 2023.

Among those who chose to put their money in something other than a regular savings accounts or a cash ISA last year, 44 per cent were investing for the first time, up from 35 per cent the previous year.

In the last year, 54 per cent of those aged 25-34 chose to invest, which is a 13 per cent annual increase, compared to 52 per cent of 18-25 year olds.

Looking ahead, more than a quarter (26 per cent) of 25-34 year olds stated they want to start investing in 2025, while 38 per cent aim to put more of their money into investments.

Within this age group, Moneybox said the appetite for investing has been steadily increasing over the last number of years, from 18 per cent in 2023, to 22 per cent in 2024 and now 38 per cent for 2025.

Moneybox head of personal finance, Brian Byrnes, said: "It's fantastic to see more people embracing investing and growing in confidence as they take steps to build long-term wealth. However, there’s still much work to be done and the government and the industry continue working to ensure investing becomes a fundamental part of financial planning for everyone, alongside saving."

However, Moneybox revealed that the 64 per cent of those who did not invest in the last year highlighted "significant barriers" to investing.

A third of respondents cited affordability as the reason they could not afford to invest in 2024, while 26 per cent admitted that they were worried about losing their money and 19 per cent said they are not confident that they know how to invest.

Meanwhile, 18 per cent chose not to invest because they were happy with the interest rate available on their cash savings.

Byrnes concluded: "While rising savings rates have made cash more appealing, cash alone is not a long-term wealth-building strategy. Saving is essential, but an overreliance on cash means many consumers may be missing out on significant opportunities to grow their money. Recent debates over potential changes to cash ISA tax benefits risk missing the bigger picture.

"The real challenge isn’t just where people put their money—it’s making sure they have the knowledge, tools, and confidence to unlock their financial potential. A strong savings foundation provides peace of mind, but true financial security comes from a balance of both saving and investing."

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