UK average savings by age group

8th September 2019 / NewsBits

In 2017, around 6.5 million adults in the United Kingdom had no cash savings. Once you are an adult, having savings is a key element of preparing yourself for life’s little and big surprises. Building cash savings can be a difficult task as it takes careful planning, and time to accumulate. Those aged between 18 and 24 years of age in the United Kingdom have the lowest mean amount in cash savings of any age group. As of 2017, one in eight UK adults had no cash savings, with a further 32 per cent of the population having between zero and two thousand British pounds.

 

18 to 24 years old £8,000, 25 to 34 – £11,000, 35 to 44 – £16,000, 45 to 54 – £26,000, 55 to 64 – £37,000, 65 to 74 £49,000, 75+ £38,000

Source: Statista 2019

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