Moneyfacts Savings Trends Index 2025

Why do we save?

• Young adults save a larger portion of their income compared to the national average. Those aged between 25 and 34 typically plough the largest portion of their earnings into savings (14.4%), while 18- to 24-year-olds and those aged between 35 and 44 each save a sizeable 13.1% of their earnings on average.

• In contrast, older generations save less of their income. In fact, those aged between 45 and 54 put away less than 10% (9.6%) of their earnings in savings on average. This is similar to the amount saved on average by 55- to 64-year-olds (10.4%) and those aged 65 or over (10.3%). But, bear in mind this doesn’t necessarily mean the value of their contributions is less, as older savers are more likely to have higher incomes.

• While, overall, the main reason people save is to feel financially secure, this differs slightly for savers in their midlife. Of those aged 45 to 54, 54% said their main reason for savings was to build an emergency fund. Meanwhile, 59% of those aged between 55 and 64 said setting money aside for retirement was their main motivation.

• Younger generations are more likely to save so they have money to invest in their future (such as to put towards their education or starting their own business). After to feel financially secure (42%), 35% of 18- to 24-year-olds said investing in their future was the next most important reason they saved. This jumped to 43% of those aged between 25 and 34 – again, the next most popular reason for saving after to feel financially secure (58%).

• However, almost half of all savers could be missing out on substantial returns; almost one in four (23%) of respondents admitted to never having switched savings accounts, while a further 23% said they switch accounts less than ever couple of years.

Average UK savings by age

• Young adults aged between 18 and 24 hold the least amount in savings on average (£11,906). However, they are among the most confident about their ability to grow their savings in the future, with over two-thirds (69%) expecting to put away more money in the next 12 months.

• In contrast, people aged 65 and over have the most amount saved on average (£31,176.50). This is perhaps unsurprising given that older generations have had longer to set money aside than younger generations. Over two-thirds (69%) of people in this age bracket also expect to save more in the next 12 months.

• Midlife is a difficult time for people to grow their savings. After 18- to 24-year-olds, those aged between 45 and 54 have the least amount in savings on average (£20,998.60). This is a noticeable dip from the average £22,445.10 held in savings by those aged 35 to 44. Furthermore, midlife savers are among the least confident about being able to put more money away over the course of the next year. Well below half of those aged 45 to 54 (38%) and 55 to 64 (37%) expect to save more in the next 12 months.

Employment status and its impact on savings

• Perhaps unsurprisingly, people in full-time employment are most likely to find it easy to save towards their goals (52%). In fact, 43% of those in full-time employment believe their personal circumstances make it easier for them to save than the average person in the UK.

• By contrast, those currently on extended leave from paid employment (e.g. sabbatical, maternity or paternity leave) are the most likely to find saving towards their goals difficult (75%).

• Taking on caring responsibilities appears to have a detrimental effect on a person’s ability to save. Almost half (48%) of homemakers, carers and those who look after children said they found it difficult to save towards their goals. As these are roles more traditionally held by women, this might explain why more women (26%) say they find it difficult to save towards their goals than men (19%).

• Younger generations believe their personal circumstances (e.g. age, location and income) make it easier for them to save money compared to the average person in the UK. Just under half of those aged 18 to 24 (46%) and 25 to 34 (46%) say their personal circumstances make it easier for them to save. This was highest among those aged between 35 and 44 (48%). What’s more, despite many young people completing further study, a third of students and those in education (33%) said they found it easy to save towards their goals.

Survey of 2,000 nationally representative UK adults carried out by OnePoll on behalf of Moneyfacts between 1 and 3 September 2025.