UK Savings Week - Key UK Savings Stats
Savings are a crucial part of money management. Whether it’s putting money aside for a particular purchase in mind, or building up a rainy day pot for something unexpected.
Research gathered by UK Savings Week* looks at the most recent UK savings statistics, to include topics such as people’s average savings in the UK, as well as demographic breakdown of UK savings market statistics, by age, gender, region, and ethnicity. Below are some of the key findings from their research for 2024.
Savings Amounts
10%
of UK adults have no savings at all
14%
of UK adults have less than £1000 in savings
24%
of UK adults have less than £1,000 in savings
£17,120
is the average amount that a UK adult has in savings. This figure is however affected by those with large savings. The median value (which is less affected) that a UK adult has in savings is £9,000
£237
is the average amount that a UK adult puts into a savings account each month. This figure is however affected by those that save large amounts. The median value (which is less affected) saved each month across the UK is £76
Financial Resilience
21%
of UK adults could not meet an unexpected expense of £300 if they suddenly had to
48%
of UK adults are still saving less than they did before the cost of living crisis
33%
of UK adults would not have enough savings to live off for more than one month
Shopping around
31%
of UK adults never compare the interest rate on their savings accounts to others available
41%
of UK adults are still with the same savings provider as they opened their first account with as a child
28%
of UK adults hold most of their savings in their current account
* Research conducted by Opinium on behalf of UK Savings Week:
Between 24 – 28 May 2024 with a nationally represented sample of 2,000 UK Adults