What is the average savings by age UK?

Average UK savings vary by age: 18-24 year olds have approximately £2,000-£4,000, 25-34 year olds have £6,000-£12,000, 35-44 year olds have £15,000-£30,000, 45-54 year olds have £25,000-£45,000, and 55-64 year olds have £40,000-£70,000. These are cash savings only, not including pensions or investments.

How much savings should I have UK?

Most experts recommend having 3-6 months of essential expenses saved as an emergency fund — typically £5,000-£15,000 for most people. Beyond that, savings targets depend on your goals: house deposit, retirement, or other objectives. Many Britons fall short of even the 3-month emergency fund target.

What percentage of UK adults have no savings?

Approximately 15-20% of UK adults have no savings at all, and around 30-35% have less than £1,000 saved. This varies significantly by age — younger adults are more likely to have zero savings due to lower incomes and student debt, while those over 55 are more likely to have built up savings.

What is considered wealthy in savings UK?

Having £50,000+ in accessible savings puts you in roughly the top 20% of UK adults. Having £100,000+ in cash savings (excluding pension and property) puts you in the top 10%. However, 'wealthy' is relative — many financially secure people have most wealth in property and pensions, with modest cash savings.

Average Savings by Age UK 2026 — Statistics & Benchmarks | PocketWise

Average Savings by Age UK 2026 — Statistics & Benchmarks

UK savings statistics by age group in 2026. See average and median savings for each decade, how you compare, and how much you should have saved.

By PocketWise · 14 April 2026 · 6 min read

How much have Britons actually saved? Here are the latest statistics on cash savings by age group, how you compare, and what you should actually aim for.

UK Savings by Age — Summary Table

Age group	Median savings	Average savings	% with zero savings
18-24	£1,000-£2,000	£2,500-£4,000	~25%
25-34	£3,000-£6,000	£8,000-£12,000	~20%
35-44	£7,000-£12,000	£18,000-£28,000	~15%
45-54	£10,000-£18,000	£28,000-£42,000	~12%
55-64	£20,000-£35,000	£45,000-£65,000	~10%
65+	£25,000-£40,000	£55,000-£80,000	~8%

Cash and savings accounts only — excludes pensions, investments, and property.

Why Median < Average

Average savings are always higher than median because a small number of very wealthy savers pull up the average:

Measure	What it tells you
Median	Half have more, half have less — the “typical” person
Average (mean)	Total savings ÷ number of people — skewed by wealthy outliers

If you have median savings for your age, you’re doing better than half your peers.

Savings Statistics: Ages 18-24

Metric	Amount
Median	£1,000-£2,000
Average	£2,500-£4,000
Zero savings	~25%
Under £1,000	~45%
Over £5,000	~20%
Over £10,000	~8%

Why Savings Are Low at 18-24

Factor	Impact
Student status	No income, accumulating debt
Entry-level wages	Low starting salaries
High housing costs	Rent absorbs income
Student loan repayments	9% of income over threshold
Building work wardrobe/expenses	Starting career costs

Savings Statistics: Ages 25-34

Metric	Amount
Median	£3,000-£6,000
Average	£8,000-£12,000
Zero savings	~20%
Under £1,000	~35%
Over £10,000	~25%
Over £25,000	~12%

Competing Priorities at 25-34

Priority	Typical savings impact
House deposit saving	High savings, but for specific purpose
Wedding costs	Temporary drain on savings
Starting family	Reduced saving capacity
Career building	May prioritise experiences/education
Student loan repayments	Ongoing deduction from income

Savings Statistics: Ages 35-44

Metric	Amount
Median	£7,000-£12,000
Average	£18,000-£28,000
Zero savings	~15%
Under £1,000	~25%
Over £20,000	~25%
Over £50,000	~12%

Financial Reality at 35-44

Factor	Impact on savings
Mortgage payments	Large monthly commitment
Childcare costs	£1,000+/month in many areas
Career advancement	Higher incomes but also higher costs
School-age children	Activities, clothes, holidays
Property maintenance	Ongoing house costs

Savings Statistics: Ages 45-54

Metric	Amount
Median	£10,000-£18,000
Average	£28,000-£42,000
Zero savings	~12%
Under £5,000	~30%
Over £30,000	~28%
Over £75,000	~12%

Peak Earning Years

Factor	Impact
Higher salaries	More capacity to save
Children becoming independent	Reduced childcare costs
Mortgage progress	Lower payments or paid off
Inheritance	Some receive during this period
Pension focus	May prioritise pension over cash

Savings Statistics: Ages 55-64

Metric	Amount
Median	£20,000-£35,000
Average	£45,000-£65,000
Zero savings	~10%
Under £5,000	~22%
Over £50,000	~32%
Over £100,000	~15%

Pre-Retirement Accumulation

Factor	Impact
Children left home	Major expense reduction
Mortgage often paid off	Freed-up cash flow
Peak career earnings	Highest incomes
Inheritance received	Parents’ wealth transfers
Downsizing	Releasing property equity

Savings Statistics: Ages 65+

Metric	Amount
Median	£25,000-£40,000
Average	£55,000-£80,000
Zero savings	~8%
Under £5,000	~18%
Over £50,000	~35%
Over £100,000	~18%

Retirement Reality

Factor	Impact
Pension income	Regular payments support savings
Reduced expenses	No mortgage, no commute
Drawing down savings	Some spending accumulated wealth
Healthcare needs	Can deplete savings
Supporting family	May help children/grandchildren

How Much Should You Have Saved?

Experts recommend different benchmarks:

Savings type	Recommended amount
Emergency fund	3-6 months essential expenses
For most people	£5,000-£15,000
Variable income/self-employed	6-12 months expenses
Job security concerns	6-12 months expenses

Emergency Fund by Expense Level

Monthly expenses	3-month fund	6-month fund
£1,500	£4,500	£9,000
£2,000	£6,000	£12,000
£2,500	£7,500	£15,000
£3,000	£9,000	£18,000
£4,000	£12,000	£24,000

Savings Rate: What Percentage to Save

Savings rate	Assessment	Monthly on £30k salary
0-5%	Below target	£0-£100
5-10%	Starter level	£100-£200
10-15%	Recommended minimum	£200-£300
15-20%	Good	£300-£400
20%+	Excellent	£400+

Where to Keep Your Savings

Purpose	Account type	Current best rates
Emergency fund	Easy-access savings	4.5-5% AER
1-2 year goal	Notice account	4.5-5.5% AER
Tax-free	Cash ISA	4-5% AER
Prize potential	Premium Bonds	~4.25% prize rate
Long-term growth	Stocks & Shares ISA	Variable (historically 7-10%)

Savings Gaps: Who’s Falling Behind?

Group	Savings challenge	Solution
Young adults (18-24)	Low income, student debt	Start small, automate £25-£50/month
Single parents	Tight budgets, childcare costs	Use tax credits, focus on small emergency fund
Low earners	Little spare income	Prioritise 1-month emergency fund first
High housing cost areas	Rent absorbs income	House share, negotiate rent, move if possible
Self-employed	Variable income	Build larger buffer (6-12 months)

Regional Savings Differences

Region	Savings vs national average
London	+20-30% (higher incomes)
South East	+15-25%
South West	+5-10%
East of England	+5-10%
Scotland	Similar to average
Wales	-10-15%
North West	-10-15%
North East	-15-20%
Northern Ireland	-10-20%

Zero Savings: How Many Britons Have Nothing?

Age group	% with zero savings	% with under £1,000
18-24	25%	45%
25-34	20%	35%
35-44	15%	28%
45-54	12%	25%
55-64	10%	22%
65+	8%	18%
All adults	~17%	~32%

Nearly 1 in 3 UK adults has less than £1,000 saved.

How to Catch Up on Savings

Current situation	Monthly action	1-year result
£0 savings	Save £100/month	£1,200
£0 savings	Save £200/month	£2,400
£1,000 savings	Save £150/month	£2,800
£3,000 savings	Save £250/month	£6,000
£5,000 savings	Save £300/month	£8,600

Best Strategies to Increase Savings

Strategy	Expected impact
Automate on payday	Removes temptation, ensures consistency
Save pay rises	50-100% of increases to savings
Round up spending	Apps like Monzo, Chip, Plum
Cancel unused subscriptions	£10-£50/month recovered
Switch bills	Energy, insurance, broadband savings
Cash back and rewards	Free money on normal spending
Side income	Even £100/month extra helps

Savings vs Pension: Where to Prioritise?

Goal	Priority
Emergency fund (£0-£5k)	Emergency fund FIRST
Employer pension match	Match this — it’s free money
Emergency fund (to 3-6 months)	Build this next
More pension	After emergency fund secure
ISA investing	For goals before retirement age

Annual Savings Benchmarks by Age

Age	Minimum savings	Good savings	Excellent savings
25	£2,000	£8,000	£15,000+
30	£5,000	£15,000	£30,000+
35	£8,000	£25,000	£50,000+
40	£12,000	£35,000	£75,000+
45	£15,000	£50,000	£100,000+
50	£20,000	£60,000	£125,000+
55	£30,000	£80,000	£150,000+
60	£40,000	£100,000	£200,000+

Cash savings only — pension and investments separate

Key Takeaways

Median is more realistic than average — don’t be discouraged by averages
Any savings > no savings — even £50/month builds up
Emergency fund first — 3-6 months expenses before other goals
Automate everything — make saving the default
Don’t compare unfairly — circumstances vary hugely
Savings + pension + investments = total wealth — cash is just one component

Next Steps

Calculate your current cash savings — All accounts combined
Compare to your age benchmark — Where do you stand?
Set a target — Emergency fund first, then beyond
Automate monthly saving — Standing order on payday
Review quarterly — Track progress, adjust as needed
Consider investing — For 5+ year goals, cash ISA may not be optimal

Your savings are the foundation of financial security. Start where you are, save what you can, and build consistently.