Savings statistics: Average UK savings in 2026

Savings are key to helping people plan their future, deal with accidents and secure a comfortable retirement. So, how much does the average person in the UK have in savings accounts?

How much savings does the average person have in the UK?

According to a 2026 Finder survey, the average person in the UK has just over £19,214 in savings. This is skewed by the over 55s, however, as the average savings for those under 55 is just £9,888.

However, 2 in 5 Brits (39%) have £1,000 or less in savings, meaning they would struggle to cover living expenses for more than a month. A quarter of people in the UK (25%) have £200 or less in savings.

Finder’s research also found that men have a much bigger savings pot on average compared to women, at £23,912 compared to £14,464. Women are also less likely to have any savings, with just two-thirds (66%) confirming they have some money set aside, compared to 4 in 5 men (81%).

What are the average savings by age in the UK?

• 18-24 year olds have average savings of £2,699.
• 25-34 year olds have average savings of £11,023.
• 35-44 year olds have average savings of £13,379.
• 45-54 year olds have average savings of £12,452.
• 55+ year olds have average savings of £33,420.

Unsurprisingly, the value of savings generally increases with age. Those aged 18 to 24 have less than £3,000 in savings, according to a 2026 Finder survey, but this jumps up to just over with 25- to 44-year-olds, who have just over £11,000.

The average savings amount then doesn’t significantly increase for 35-44 year olds and 45-54 year olds – perhaps a result of people hitting milestones, such as buying a house or having children, which require financing.

The average savings amount then more than doubles among those aged 55 and above, who have an average of £33,420.

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How many people in the UK have no savings?

1 in 6 adults (16%) across the UK have no savings in 2026, which equates to 8.9 million people. Overall, a quarter of Brits (25%) have £200 or less in savings accounts, which is less than a typical adult spends in a week (£265).

This is according to ONS research, which found that an average household of 2.35 people spends £623.30 a week. This means that the typical person spends £1,152 a month, so the 2 in 5 Brits (39%) with £1,000 or less in their savings accounts would find it difficult to survive for more than a month if they needed to rely on their savings.

Case study: The cost of living crisis has impacted Tracey's savings

"I already have 3 side hustles and am still battling to get by.

I cook for the local squash club, I sell clothes on eBay, I enter competitions and I do online surveys for money.

I am not happy with how much I have saved. I have had to use some of it to pay for things like car insurance, tyres, MOTs, electricity bills and repairs."

Tracey Greyvenstein

Abingdon

Which generation has the most people with no savings?

Generation Z, aged 18-29, has 1 in 5 people (20%) with no savings at all, the highest across the generations. They are followed by Generation X, aged 46-61, with 19% of people with no savings, and Millennials, aged 30-45, where 17% have no savings.

The older generations are less likely to be without savings. 9% of baby boomers, aged 62-80, while 1 in 10 (10%) from the silent generation, aged 81 and over, are without savings.

What are the average savings by region in the UK?

People living in the East of England have the highest average savings in the UK in 2026, at an impressive £26,778.

They are followed by the South East, where the average savings amount is £22,404 and Greater London, where the average savings amount is £21,266.

At the other end of the spectrum, those in Northern Ireland have the least in savings according to the survey, with an average of just £8,421, around a third of the average savings of those in the East of England. Residents in Wales also have a comparatively low average savings amount at £12,038.

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What are the average savings rates in the UK?

The average savings rates offered by providers can vary depending on factors such as the base rate, inflation and how people are spending their money.

As of July 2026, the average variable cash ISA interest rate is 1.97%, while the average 1-year fixed-rate ISA had a savings interest rate of 4.34%. The average instant access savings account had an interest rate of 2.11%.

Savings rates began rising in 2022 as the base rate was increased by the Bank of England, and inflation soared. ISA rates peaked in October 2023, with 3.35% for variable cash ISAs and 5.48% for 1-year fixed-rate ISAs, but have since been falling again as inflation has slowed.

• Savings tips and tricks to keep in mind

  We’ve outlined some things to consider trying if you want to save regularly.

  Switching providers

  You will often only be on a good deal for your initial contract with a provider before being switched to their standard rate, which is typically a lot more expensive! If you are organised enough to switch when your contracts end, you can save a lot more money in the long run by always taking advantage of the best deals.

  Loyalty points

  Many supermarkets offer loyalty points or rewards, and these can often be spent on restaurants, accommodation and other shops as well as the supermarket itself. Shops such as Boots and Superdrug also offer loyalty points that allow customers to save on future spending.

  Switching providers

  Automated budgeting apps such as Emma help you save money by connecting all your bank accounts in one place. It gives you insights into your spending and lets you know where you might be wasting money. It also calculates how much you can afford to save each month.

  Create savings pots

  Having separate savings pots can also help you to make sure you are saving enough to put towards your monthly bills or another specific event that month. Bank apps such as Monzo and Sterling are very handy for creating these savings pots!

  Case study: Nicola has made simple changes to help her save more

  

  Nicola Frapwell

  West Sussex

  I always shop around when my broadband, mortgage contracts come to an end to find the best deal possible. I make reminder notes on my phone to make sure I don't forget when my contracts expire so that I can shop around for the best price. Switching broadband has saved me around £6 per month, and using less energy (only washing on full loads, shorter showers, etc.) is saving me approximately £15 per month.

  I have also been shopping at Aldi over my usual Tesco's, and I've discovered some great items at a fraction of the cost! Switching supermarkets has saved me around £15 a week. I'm also a mad loyalty fan, and I save up my points when shopping in Boots, Superdrug, etc., to treat myself and put towards Christmas and birthday presents.

• What should you do with your savings?

  As well as simple tips and tricks, it’s also important to make sure you are saving your money in the most rewarding way, whether that’s a traditional savings account or a stocks and shares ISA.

  Put your money into a good savings account

  Savings accounts are a reliable way to put money away, but you should ensure your money is sitting in an account that pays good interest. Interest rates on savings accounts have been low for the past few years, but they are on the rise, and there are some good deals out there. Fixed-rate savings accounts can sometimes offer higher interest rates than easy-access savings, but you’ll need to assess whether you are comfortable with putting a chunk of your money away for a fixed period.

  Some banks also offer good interest rates on regular saver accounts, which can be great for those just starting out on their savings journey. These accounts let you put in a certain amount each month rather than a lump sum.

  Premium bonds

  This is another option where your money isn’t at risk. It works by offering cash prizes every month instead of guaranteed interest, so while you could end up not winning anything, the top prize is £1 million. When you look at the total amount of prizes paid out, the effective interest rate is currently 1.4% each year.

  Consider a stocks and shares or lifetime ISA

  If you are willing to take a riskier option for your money, you might consider putting some of your savings into a stocks and shares ISA. Markets like the FTSE have historically outperformed savings accounts, although your money is also at risk of decreasing with this option.

  If you’re saving for a house or retirement, then you should also look at lifetime ISAs, as the government will give a bonus of 25% on what you pay in (up to £4,000 per year).

• What is the 50/30/20 savings method?

  The 50/30/20 method is fairly simple. You divide your expenses into 3 categories: needs, wants and savings. The method says that you should budget 50% of your income for fundamentals such as bills, rent and food (needs). You should then designate 30% for hobbies, eating out and other entertainment (wants), while 20% can be dedicated to building up your savings.

  For example, based on the average monthly take-home pay in the UK (£2,191.75), you should allocate £1,095.88 to your needs, £657.52 to your wants and £438.35 to your savings.

  Can the average Brit save using the 50/30/20 method?

  The 50/30/20 method would look more like 60/30/10 or 60/25/15 for the average UK resident. This is because the cost of needs equals approximately 60% of income, or just over £1,300, rather than the recommended 50%.

  We’ve included the following outgoings when looking at the total cost of needs for the average person:

  • Groceries
  • Energy bills
  • Water bill
  • Council tax
  • Transport
  • Mobile phone contract and broadband
  • TV licence
  • Insurance

  Generational differences

  To see if things look better for certain age groups, we looked at the percentage of each generation’s pay cheques that are spent on needs, wants and savings.

  18- to 21-year-olds have no chance of using the 50/30/20 method if they have the same needs as those in the other. In fact, all the income for a person in this age group would be spent on the needs category!

  22- to 29-year-olds are in a slightly better position because they have some spare income for enjoying themselves, but they aren’t able to save very much either. The biggest savers are in the 40-49 category when the average salary is highest, but even they need to spend more than the allocated 50% on their needs.

  This assumes an average cost for every person for the most common needs, but certain age groups may have greater monthly outgoings based on their living situation and dependents.

• More cost of living research

  Disposable income around the UK
  Historical price tracker
  Average price of a coffee around the world
  Cost of living calculator
  Millionaire calculator
  Valentine’s Day spending statistics

Click here for more research. For all media enquiries, please contact –

Sophie Barber
Communications Manager

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To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Sophie Barber

Senior content marketing manager

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Sophie Barber is a senior content marketing manager for Finder in the UK. She has over 5 years experience in writing and publishing clear, concise and informative articles that help consumers make informed decisions. See full bio

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Sophie has written 97 Finder guides across topics including:

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Kate Steere

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Kate Steere is an editor and money expert at Finder, specialising in banking, savings and fintech. She has previously written for The Motley Fool UK and Fitch Solutions, where she covered a wide range of personal finance topics and kept a close eye on market trends. Kate has a Bachelor of Arts in Modern History from the University of East Anglia. When not working, she can usually be found curled up with a good book or heading out for a run. See full bio

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Kate has written 153 Finder guides across topics including:

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