Despite concerns about the UK’s finances, 66% of consumers say they are confident about their own personal finances.

Only four in 10 have confidence in the UK economy, according to a survey, but two thirds are ‘happy’ with their own finances.

Some 30% of millennials say they have seen disposable income increase recently and homeowners report being more optimistic about their finances than renters.

The latest Lloyds Bank Spending Power Report says that almost half (46%) of people lack confidence in the UK’s current employment situation, yet 81% are comfortable with their own job security.

Likewise, 54% report a gloomy outlook on inflation although four in five (80%) report having reasonable disposable income after bills and essentials are paid for.

Over two thirds (69%) of people feel they either have the same amount or more disposable income than they did at the start of 2018.

For millennials 30% between 18 and 24 experienced an increase in disposable income since the start of the year (vs 27% of 25-34, 15% of 35-44 and 11% of 45-64).

Robin Bulloch, managing director of Lloyds Bank, said: “During this heightened period of economic uncertainty in the UK, it’s understandable that many will err on the side of caution when considering the future of the country’s finances. Therefore, the optimism and resilience shown by people in their own finances is great to see.”

Lloyds says the resoluteness of Britons in their finances is even more remarkable given an increase in essential household spend of 3% since last July. This has mainly been driven by people spending nearly 3% more on groceries across the same period and a 10% rise in fuel spend reflecting recent sharp rises in pump prices.

Over half (51%) of homeowners feel positive about the current level of inflation, against just 36% of renters.

Homeowners are more confident about the UK’s employment situation (60% vs 44%), the UK’s financial situation (43% vs 35%) and the UK’s housing market (49% vs 30%).

The report was based on over 2,000 adult bank account holders aged 18 to 75 surveyed in July.