Average Savings in the UK by Age (2026 Data)

By Wealthvieu · Updated

The average Briton has around £17,000 in savings — but the median is far lower. Here’s how savings compare across age groups and how to tell if you’re on track.

Table of Contents

Average vs Median Savings by Age

Age Group Mean (Average) Savings Median Savings
18–24 £3,500 £1,000
25–34 £9,500 £3,500
35–44 £16,500 £6,000
45–54 £25,000 £10,500
55–64 £38,000 £15,000
65–74 £42,000 £18,000
75+ £35,000 £14,000
All ages £17,000 £7,500

The average is pulled up by high savers — the median (middle person) gives a more realistic picture.

How Many People Have No Savings?

Age Group % With No Savings % With Under £1,000
18–24 28% 45%
25–34 22% 38%
35–44 18% 32%
45–54 15% 28%
55–64 12% 23%
65+ 10% 20%
All ages 18% 32%

Nearly 1 in 5 adults has no savings at all, and almost a third have less than £1,000.

Savings Distribution

Savings Amount % of Adults
£0 (no savings) 18%
£1 – £1,000 14%
£1,000 – £5,000 16%
£5,000 – £10,000 11%
£10,000 – £25,000 14%
£25,000 – £50,000 10%
£50,000 – £100,000 8%
Over £100,000 9%

Savings Benchmarks: Are You on Track?

Financial advisers typically recommend saving 3-6 months of expenses as an emergency fund, plus building long-term wealth. Here’s where you should aim:

Age Emergency Fund Target “Good” Total Savings “Excellent” Total Savings
25 £5,000 – £8,000 £5,000+ £15,000+
30 £6,000 – £10,000 £15,000+ £40,000+
35 £7,000 – £12,000 £25,000+ £75,000+
40 £8,000 – £13,000 £40,000+ £120,000+
50 £8,000 – £14,000 £75,000+ £200,000+
60 £8,000 – £14,000 £120,000+ £300,000+

These figures are savings only — not including pension wealth or property equity.

Monthly Savings by Age

Age Group Average Monthly Savings As % of Take-Home Pay
18–24 £120 7%
25–34 £180 8%
35–44 £200 8%
45–54 £250 9%
55–64 £300 11%
65+ £150 8%
All ages £200 8%

Most people save about 8% of their take-home pay. Financial experts recommend 15-20% including pension contributions.

Savings by Income

Annual Income Median Savings Average Monthly Saving
Under £15,000 £500 £30
£15,000 – £25,000 £2,500 £80
£25,000 – £35,000 £6,000 £150
£35,000 – £50,000 £12,000 £250
£50,000 – £75,000 £25,000 £450
Over £75,000 £55,000 £900

Savings by Region

Region Median Savings
South East £12,000
London £9,500
East of England £9,000
South West £8,500
East Midlands £6,500
Scotland £6,000
West Midlands £5,500
North West £5,500
Yorkshire & Humber £5,000
Wales £4,500
North East £4,000
Northern Ireland £4,500

Best Savings Accounts and Rates

Account Type Typical Rate (2026) Tax Treatment Access
Easy-access savings 4.0% – 4.5% Taxable (PSA applies) Instant
Fixed-rate bond (1yr) 4.2% – 4.8% Taxable Locked
Regular saver 5.0% – 6.0% Taxable Monthly limit
Cash ISA 3.8% – 4.5% Tax-free Varies
Lifetime ISA 3.5% – 4.2% + 25% bonus Tax-free Age 60 / first home
Premium Bonds ~4.0% (prize rate) Tax-free Instant

Personal Savings Allowance

Tax Band Tax-Free Savings Interest
Basic rate (20%) £1,000
Higher rate (40%) £500
Additional rate (45%) £0

How to Save More

The 50/30/20 Rule for UK Incomes

For someone earning £30,000 (£24,000 take-home):

Category % Monthly Amount
Needs (rent, bills, food, transport) 50% £1,000
Wants (dining, entertainment, subscriptions) 30% £600
Savings & debt repayment 20% £400

Impact of Saving £200/Month

Years Total Saved With 5% Interest With 7% Growth (ISA)
1 £2,400 £2,460 £2,484
5 £12,000 £13,560 £14,260
10 £24,000 £30,960 £34,580
20 £48,000 £81,480 £103,640
30 £72,000 £164,400 £243,480

Key Takeaways

  1. Median UK savings are ~£7,500 — the average of £17,000 is skewed by high savers
  2. 18% of adults have zero savings and 32% have less than £1,000
  3. Most people save about 8% of take-home pay — aim for 15-20%
  4. Age 55-74 have the highest savings at around £15,000-£18,000 median
  5. Use your ISA allowance for tax-free growth — up to £20,000/year
  6. The Personal Savings Allowance gives basic-rate taxpayers £1,000 tax-free interest
  7. Start small — even £100/month grows to over £17,000 in 10 years with interest
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