A total of 71% of Welsh residents grew up in households where investing was never talked about, research suggests.
A study of 5,000 UK adults has found that despite this, a quarter (25%) of people in Wales are ‘investment curious' but are yet to take their first step, with hesitation to invest driven by fear of making a mistake (32%) and a desire for better understanding of investing (19%). The research also shows that people feel they need to hit certain milestones before getting started as more than a quarter (27%) say they wouldn't consider investing until they had at least £10,000 in savings.
This “readiness barrier” is preventing many people from taking that first step, with almost three quarters (72%) of Welsh residents not currently investing outside of workplace pensions.
One in five (19%) of residents state that having a better understanding would have helped them to feel more ready to invest, the most commonly listed response. More than a fifth (23%) of people would be the first in their family to invest if they were to take their first step.
NatWest commissioned the research to support a new campaign aimed at helping people tackle the confidence barriers that can make investing feel out of reach. The campaign is developed in partnership with TV presenter and consumer finance expert Angellica Bell.
A government-backed “Invest for the Future” initiative which aims to make investing feel more accessible to everyday savers has also launched, as well as the introduction of Targeted Support, designed to help banks give customers more meaningful guidance on investing.
Aroma Khan, NatWest Investment Expert, said:
“At a time when many people are carefully managing their money and thinking hard about their financial priorities, we understand that investing may not feel like the right step for everyone. But for those who are in a position to save, investing can still feel out of reach, either because it was never talked about growing up or because it seems like you need a certain level of knowledge or money to get started. That's why we've launched this campaign: to help break down those perceptions and support people in understanding whether investing is right for them, at a pace that works for them.
“We want to help more people feel confident enough to explore that first step, if and when they're ready. In reality, it's often about starting small, for example through something like a Stocks and Shares ISA, building understanding over time and recognising that you don't have to have everything figured out from day one. By making investing feel more accessible and achievable, we hope to support people in turning that initial curiosity into informed action.”
Angellica Bell said:
“People often assume investing is something you need to have all figured out before you start, that you need the right salary, the right amount saved, or the right moment. But that's rarely how anything in life actually works.
“I've learned that in plenty of situations myself. Whether it was moving into a new role or picking up new skills later in life, the confidence came from doing it, not from waiting until everything felt perfectly in place. Investing doesn't have to be different. A small step is still a meaningful step, and you build from there.”
