A Year On: Health is wealth as Brits take personal milestones more seriously than ever following 12 months of restrictions

More than half of British people now value the importance of their personal wellbeing and are focussing on mental and physical goals as they reflect on life's priorities, according to new research by St. James's Place Wealth Management (SJP).

Since the UK was first placed in full national lockdown a year ago on 23 March 2020, many people have been reconsidering their key values in life as they have been brought into sharp focus. Nearly half (47%) of Brits say this time has prompted them to reflect on their lives and amend goals, while a third (33%) have set new goals as priorities have changed, focusing on mental and physical health alongside the traditional wealth-related goals of buying a house or investing.

Figures indicate that Covid-19 has meant Brits are taking their ambitions more seriously than before, with a quarter (25%) feeling anxious or worried, having lost a year of time working towards their long-term goals. Perhaps understandably, nearly one in five (18%) have even put their goals and ambitions on hold. However, a similar number (22%) are feeling more focused than ever, having used the last 12 months to reassess what's important to them and deciding what they really want - whether that be a change of career, starting a business, moving house, devoting more time to relationships or starting a family.

As lockdowns continue to limit social interaction, it's perhaps unsurprising that family and relationships are the most important life focus post-pandemic, with almost four in five (78%) saying they put them first. However, almost six in ten (59%) of Brits now hold personal health as 'very important', an increase of 13 per centage points from a year earlier, while finances are the third most important consideration (57%).

With hospitality venues, beauty and retail closed and travel abroad restricted over the last year, one in three adults (37%) say they have been able to save more money, on average pocketing £1,660, although there is a big gap between men and women at £2,040 against £1,300. The biggest savers by age are those aged 25-34 at £2,330, with 45-54-year-olds saving the least at £840. There are also significant regional differences between the amounts saved, with Londoners accumulating an average of £2,040 and those in Yorkshire £1,980, while at the other end of the spectrum people in East Anglia managed £960 and in Northern Ireland only £380. Those in Scotland managed an average of £1,168 and in Wales £1,780.

The research also reveals that people are focussed on other positives that have come out of the last 12 months, such as being able to cook more (31 per cent) and having more free time to exercise (25 per cent).

Alexandra Loydon, Director of Partner Engagement and Consultancy at St. James's Place, says: 'It is really positive to see that although the pandemic has brought hardship and uncertainty to many, there have also been some real positives, especially as people place their general wellbeing as a greater priority than before. I am really encouraged to see that people have continued working on their goals over the last year and have simply adapted their path, focussing on long-term stability rather than short term turbulence. With the constant change so many have experienced, it would have been easy to abandon plans or simply put them on hold. However, our research shows that in fact people have become more flexible and adaptable, with family relationships and health goals balanced with career and money ambitions, and many now considering a financial goal an important part of their life plan.'

One in five of those questioned (21%) said they were seeking advice on their finances from a financial adviser, while almost two in five consulted their family on their finances (38%). There were large differences across the age range, with three in five (61%) of those aged 18-24 asking family for financial advice, compared with only 18% of those aged 55 plus doing so. A quarter (26%) of Brits now claim that having a financial goal is important to them as a result of the pandemic.