As the new year begins, millions of Brits are setting ambitious financial goals to improve their futures – from reducing debt to buying their first home.
However, new research from credit building business Loqbox suggests that many are overlooking a critical factor in their financial success: their credit history.
Often ignored until it’s urgently needed, a healthy credit history isn’t just a single number (your credit score) – it’s the foundation for financial freedom and wellbeing.
According to the survey, 81% of Brits who set financial goals struggle to achieve them. When discussing the reasons for their setbacks, 27% of respondents cited that unexpected expenses derailing their financial goals are often the biggest hurdle.
STAY MOTIVATED
Meanwhile, 24% struggle to stay motivated and 18% feel discouraged by not seeing quick results. The research highlights a clear need for financial goals that are achievable and lead to long-term outcomes—like improving credit.
The survey also revealed the game-changing power of a strong credit history. A quarter (24%) of Brits said that they felt improving their credit history would boost their overall financial wellbeing in 2025.
Other benefits include reducing or paying off debts (23%), freeing up more disposable income (17%), and increased confidence in financial planning (15%).
A stronger credit history also unlocks the ability to qualify for and access credit cards or financial products that might have previously been unattainable (15%), access to better rates on loans or mortgages (12%), and improve chances of renting or buying a home (12%).
FINANCIAL RELIABILITY
Tom Eyre, Co-Chief Executive and Co-Founder of Loqbox, says: “Some people write credit histories off as a gimmick or not a real thing worth paying attention to, but your credit history is evidence of your financial reliability.
“It shows how well you’ve managed borrowing and repayments over time, giving lenders confidence in your ability to handle credit responsibly.
“By building a strong credit history – through actions like paying bills on time, keeping credit utilisation low, and staying consistent – you can unlock better opportunities, from accessing affordable loans and mortgages to reducing debt and increasing disposable income. Building credit is key to overall financial wellbeing, and it’s never too early to start.”
MANAGEABLE STEPS
Gregor Mowat, Co-Chief Executive and Co-Founder of Loqbox, adds: “With 24% of people battling motivation and another 17% citing time constraints, it’s clear that financial goals can feel overwhelming. That’s why we encourage people to focus on manageable steps.
“Improving your credit history is a simple, effective way to create positive momentum and see real progress, which helps keep financial goals alive throughout the year.”
