Sixty-six percent of adult UK citizens claim they save and invest on a regular basis. The highest percentage of respondents, at 72 percent, came from North West England, followed by Scotland and Wales, at 71 percent each. In the meantime, 61% of us are trying to pay off our debts as soon as possible, 54% of us are keeping an eye on current account offers and savings rates, and 2 in 5 of us (39%) are monitoring our credit score.

As the tax year draws to a close, 20% of individuals are increasing their pension payments to increase their retirement savings, and 39% of people are taking advantage of tax benefits and allowances, such individual savings accounts.In addition, Baby Boomers are three times more likely (63%) to be using Individual Savings Accounts (ISAs) than are 25–34-year-olds (21%). Men were more likely than women (45% versus 34%) to be making the most of allowances. Regarding their ISA practices, 41% of UK adults leave their assets to increase in value over time, while half of them (49%) make monthly contributions.
 

"Personal finance tasks often find themselves at the bottom of our to-do lists, but it's encouraging to see more and more people engaging with money and establishing good finance habits," stated Claire Exley, head of advice and guidance at Nutmeg. Before the tax year closes on April 5th, this is a terrific time of year to take advantage of any allowances and do a financial health check to make sure your money is working hard.

Speaking with a financial advisor about financial goals in a complex financial world was deemed as significant by individuals between the ages of 18 and 34 (22%) as it was by those over the age of 65 (23%). The younger generation is also the most willing to pay for financial guidance."Today's young individuals face increasingly difficult financial decisions—from knowing which ISAs may be ideal for their goals to comprehending employment pension arrangements, contrasted to parents who may have benefited from final salary schemes—explained Exley in her conclusion. While it may seem overwhelming or hard to know where to begin, there are more and more resources available for free assistance, and getting professional counsel may truly help everyone, not just those with large salaries or money.

Nutmeg's best advice for spring cleaning your money at tax year end is as follows:

1. Be reasonable with your spending and saving - Setting aside even a small amount of money every month for a rainy day will assist in the long run, but keep     your goals doable. Cutting back on energy or food consumption can make you feel resentful of your budgetary goals. Ultimately, this could cause you to   overspend instead of forming a long-lasting savings habit. Your bank can provide you with options to help you save, such better interest rates for consistent     savings, cashback on regular debit card purchases, or a "round up" option that rounds up every transaction to the nearest pound and places the difference   into  a savings account. These can assist you in forming a savings habit that will develop with time.

2. Optimize government assistance: In addition to providing solutions to encourage investors and savers, the government also has the right to provide many     people with greater financial assistance than they may have anticipated. If you do have money set aside for the future, tax-efficient investments like pensions   and individual savings accounts (ISAs) may make sure every dollar counts by not requiring you to pay taxes on growth, income, or returns. Contribute up to   £4,000 to a Lifetime ISA if you're between the ages of 18 and 39 and saving for your first house; the government will match your contributions with a 25%   bonus. LISAs are subject to certain regulations, so be sure the product is appropriate for your needs and objectives.

3. Maximize your savings – Although higher interest rates may result in higher payments on your loans and mortgages, they also offer better rates for your     savings, whether they are in a cash ISA or savings account. Utilizing the best interest rates on your savings will increase your wealth and lessen the effects of   the current cost of living problem. But you'll need to compare prices.

4. When investing, have a longer-term perspective. Increased interest rates on cash savings are beneficial, but over time, inflation could cause your money to   lose value. This implies that you might want to consider investing, since research indicates that investments typically outperform cash savings over the long   run. It is advised that you invest your money for a number of years with the understanding that there is no guarantee of returns and that you could lose money.   Keep in mind, though, that investments are best suited to achieving long-term goals.

5. Check in on your pension: Workplace pensions can be quite beneficial since they may provide you with both government tax relief and employer   contributions, or "free money." If you are able, you might think about contributing more, no matter how little. You might want to think about combining all of your   employment pensions into one since it can be simple to lose track of them.

It's crucial to take your goals, tax situation, and unique circumstances into account when selecting accounts and products that could be best for you.