The average amount Brits have in savings, according to their age

Are you a spender or a saver? (Picture: Getty Images) People can be surprisingly secretive when it comes to money. From not wanting to brag about what they earn to worrying they might be behind in terms of savings, it’s a very sensitive subject. But while it would be cringe to bang on about a huge promotion every two minutes, there are times when being transparent is key: whether that’s to provide more financial education or to feel less pressure about your monetary situation. So, in the spirit of sharing, Metro found out how much money Brits have saved on average, according to their age group. Heads up: it’s not as scary – or high – as you might think. And for those who aren’t quite there yet, don’t worry. Saving in whatever capacity you can currently afford is still good practice. @cazzatime Average UK savings by age 2026 🇬🇧 How much do you have in savings? 💷 Well here’s how much the people in your age group have on average! 👀 Feeling behind? Maybe it’s time to start taking your savings goals a bit more seriously… Taking small actions now, like opening the right savings account, or saving £10 a month, will make a huge difference over time! 📈 Any questions, let me know! 💬 #personalfinance #savings #savingmoney ♬ original sound – Cameron ‘Cazza’ Smith How much money does the average UK person have saved? Ask Metro Use AI to go deeper into the stories you care about – powered by Metro and trusted publications. In a recent survey conducted by fintech company Finder, the average Brit was found to have £19,214 in savings. This figure might seem high. However, the study also revealed 39% of UK adults have £1,000 or less in savings, and a quarter have £200 or less. Meanwhile, one in six(16%) have nothing put away at all, equating to around 8.9 million people. How do you compare? 18-24 According to the research, those between the ages of 18 and 24 have £2,699 in their savings on average. In this category, Forbes states the average UK annual salary (for those who work 30 hours a week or more) is between £24,440 and £32,292. Of course, the amount you can save from each wage will depend on your circumstances. But if you’re unsure of how much to put away for fear of not having enough left at the end of the month, the 50/30/20 rule is a good place to start. Through this, you allocate 50% of your paycheck to needs, 30% for wants and 20% for savings or debt repayments, with the idea that the more you earn as you get older (as you’ll find out in a minute), the more you can save per month. Worrying about how much you’ve saved compared to a friend isn’t helpful in the long-run (Picture: Getty Images) 25-34 In the 25-34 age bracket, the savings number jumps rather significantly to £11,023. However, only 23.4% have more than £10,000 in savings. 46.3% have just £1,000 or less. Average wages differ here, too. Those at the younger end of the scale, up to 29 years old, receive £32,292, which increases increases to £39,988 between 30-34. 35-44 Aged 35 and older? Finder notes that the people in this age group typically have £13,379 in savings. However, similarly to the previous bracket, only 23.9% have more than £10,000 stored away. Earnings-wise, it’s £39,988 on average for those up to 39. From 40-49 – which includes the people at the higher end of this category – ONS data puts the figure at £43,500. 45-54 If you’re aged between 45 and 54, the standard amount of savings you have put away is 12,452. We already know the average salary up to 49 years. But from 50-59, it actually drops to £40,500. According to Forbes, wages peak in your late 30s and mid-40s because this is when the biggest career advancements typically happen. Other reasons include experience, skills and training, educational attainment, job change and promotion. After 50, pay may decrease due to several factors, such as early retirement, going part-time, leaving the workforce, or ill health. 55+ Despite wages declining, or people receiving early or state pension, there’s quite a jump in the amount of savings this category has. On average, this age group has £33,420 in the bank, while just 27.3% have less than £1,000. Finally, 36.8% have over £10,000. From 60, the annual salary decreases to below the 30-39 age group. Those still in the workforce will earn, on average, £36,036. A finance expert’s top saving tips Looking to boost your savings for a brighter financial future? Metro spoke to Matthew Sheeran, money saving expert at Money Wellness. Firstly, he says it’s important to avoid putting pressure on yourself to save hundreds straight away, as ‘even a pound or two a day can make a difference over time if you stick with it.’ If you’re a saving newbie, Matthew recommends the envelope method. Also known as ‘cash stuffing’, it involves withdrawing everything you earn as soon as you get paid so you know exactly how much you have available, setting clear limits on different types of spending like food, travel or socialising. ‘Another simple trick is to save what you didn’t spend,’ adds Matthew. ‘If you get a discount on something, or you cancel a subscription, move that money straight into savings. You didn’t miss it, so it’s the perfect time to build your emergency fund.’ Deals of the Day Parents can save up to 30% on Kickers school shoes ahead of the new term The back-to-school hack that's helping parents avoid queues and sold-out sizes Could your hair be wavy rather than straight? This brand thinks so Could your star sign improve your skincare routine? This new beauty launch thinks so Best skincare for menopausal skin? This dermatologist-created treatment is tailored to you If things don’t go to plan though, he highlights there is help out there, ‘whether you’re struggling with debt or just want a bit of help getting your finances back on track.’ Do you have a story you’d like to share? Get in touch by emailing MetroLifestyleTeam@metro.co.uk Arrow MORE: Betfred to close 132 stores and cut 600 jobs over ‘economic uncertainty’ Arrow MORE: Major change to bus tickets across England from today — here’s what you need to know Arrow MORE: Lidl just brought back the ‘ultimate’ shopping perk — and it only costs 1p The Slice Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.