Savings by Age UK — How Much Should I Have Saved?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.
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.
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
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.