Average Savings by Age in the UK (Latest Statistics)

How much savings should you have in the UK — and are you behind?

That’s what people are really asking when they search for average savings by age in the UK. They’re not looking for theory or financial jargon. They want a reality check.

The statistics below are based on an original UK savings survey conducted in 2023, with responses from 1,764 adults, and reviewed in 2026. Savings figures exclude main residential property to avoid skewing the results.

Some of the findings are reassuring. Others are uncomfortable — especially if you don’t have much put aside.

Last updated: January 2026
Data source: Household Money Saving UK survey (2023)

UK savings at a glance

• 12.9% of UK adults have less than £100 saved
• The median amount saved is £8,599
• 1 in 5 people save nothing at all each month
• Savings rise sharply after age 55
• Men save and earn more than women, on average

If you’ve ever wondered whether you’re “doing badly”, the tables below show what’s actually normal in the UK.

Jump to section

• Men vs women savings statistics
• Average income by age
• Average monthly savings by age
• Average total savings by age
• How many people have no savings?
• Other UK savings facts
• FAQs

Men vs women savings statistics in the UK

There’s a clear and persistent gender gap when it comes to both income and savings.

On average, men save £134.65 per month, while women save £92.40. That difference may not sound huge, but over time it compounds.

Men hold an average of £13,349 in savings, compared to £6,549 for women. Income plays a major role here, with men earning £29,439 on average and women earning £22,600.

This gap isn’t about better discipline. It largely reflects differences in pay, career breaks, part-time work, and caring responsibilities.

Average annual income in the UK by age

Income follows a fairly predictable pattern across adult life.

Earnings tend to rise through your 20s and early 30s, peak between 35–44, and then gradually decline. The highest average income in the survey (£30,147) appears in the 35–44 age group, when careers are usually established and working hours are at their highest.

After this point, income falls steadily. This is often linked to reduced hours, career plateaus, or moving towards retirement.

For many households, this drop in income is one reason savings only start to accelerate later in life.

Average monthly savings in the UK by age

Despite earning less overall, 18–34-year-olds save the most per month (£143 on average). This is usually driven by short-term goals such as house deposits, weddings, or starting a family.

Monthly saving drops noticeably between 35–54, when costs like mortgages, childcare and general living expenses tend to peak.

Savings begin to rise again after 55, as major expenses fall away and retirement planning becomes more urgent. Interestingly, even after retirement, monthly saving remains relatively stable, suggesting many people continue to set money aside rather than draw it down immediately.

If you’re struggling to save during your 30s or 40s, you’re far from alone.

Average total savings in the UK by age

Here’s what the survey found for average individual savings:

• 18–34: £990
• 35–44: £3,579
• 45–54: £3,859
• 55–64: £15,255
• 65–74: £39,799
• 75+: £33,079

Savings barely move until the mid-50s. Then they rise sharply.

This jump is often driven by pension lump sums, mortgages being paid off, downsizing property, inheritance, and fewer dependent costs. Savings fall slightly after age 75 as money begins to be used rather than accumulated.

Are you behind on savings in the UK?

If you’re comparing yourself to these figures, it’s worth keeping a few things in mind.

Being below the average doesn’t mean you’re failing. Many people don’t build meaningful savings until later in life. The biggest difference-maker isn’t income — it’s consistency over time.

Even saving £50–£100 per month earlier on often matters more than trying to catch up later.

If you’re starting from scratch, focusing on building an emergency fund is usually more important than chasing higher returns.

How many people have no savings at all?

This is one of the most worrying findings.

Across all ages:
• 20.1% don’t save anything each month
• 49.5% save less than £100 per month

In other words, most UK households have very little financial resilience. One unexpected bill — a car repair, boiler breakdown or rent increase — can quickly cause financial stress.

For many people, learning how to budget realistically or finding small ways to increase income will have a bigger impact than cutting spending further.

Other surprising UK savings facts

A few other findings stood out from the survey:

• 10.1% of people do not discuss finances with their partner
• 59.5% don’t know the current Bank of England base rate
• Only 6% hold a Lifetime ISA
• 80.4% use a current account for savings
• Of those who play the lottery, 72.7% earn under £35,000
• Just 0.3% place savings into cryptocurrency

None of these figures are particularly flattering — but they are realistic.

Has the cost of living changed this since 2023?

Yes. Prices, interest rates and household bills have shifted since this survey was conducted. However, age-based saving patterns in the UK tend to remain broadly consistent over time.

What has changed most since 2023 is how people save — with more focus on higher-interest accounts — rather than who is able to save more.

Methodology and data notes

These statistics are based on responses from 1,764 UK adults.
Figures shown are median values to reduce distortion from high-net-worth outliers.
Savings figures exclude the value of a main residential property.

Further reading

Are you feeling left behind? Take a look at the best UK budgeting apps to help you get started.

FAQ