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Mean amount in cash savings in the United Kingdom (UK) 2017, by age group
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Mean amount in cash savings in the United Kingdom (UK) 2017, by age group
Mean amount of cash savings in the United Kingdom (UK) in 2017, by age group (in 1,000 GBP)
by James Cherowbrier,
last edited
Aug 9, 2019
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 percent of the population having between zero and two thousand British pounds.
With age comes wisdom
The correlation between age and the mean amount of cash savings can be somewhat linked to individuals’ priorities. Younger people will be looking to put money towards large items such as a car, home or travel whereas those aged over 65 have not only had time to build their savings, but also are more likely to have no unsecured debt, and to own a property outright.
Rainy day fund
As we get older, the importance of having some form of savings for an emergency, or unforeseen circumstances becomes clearer. Planning for the long-term becomes of higher importance as we age. Despite this, as of 2018, just over half of the adult population had adequate savings for retirement.
Mean amount of cash savings in the United Kingdom (UK) in 2017, by age group (in 1,000 GBP)
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by James Cherowbrier,
last edited
Aug 9, 2019
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 percent of the population having between zero and two thousand British pounds.
With age comes wisdom
The correlation between age and the mean amount of cash savings can be somewhat linked to individuals’ priorities. Younger people will be looking to put money towards large items such as a car, home or travel whereas those aged over 65 have not only had time to build their savings, but also are more likely to have no unsecured debt, and to own a property outright.
Rainy day fund
As we get older, the importance of having some form of savings for an emergency, or unforeseen circumstances becomes clearer. Planning for the long-term becomes of higher importance as we age. Despite this, as of 2018, just over half of the adult population had adequate savings for retirement.
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- Release date
- October 2017
- Region
- United Kingdom
- Survey time period
- October 2017
- Number of respondents
- 10,044 respondents
- Age group
- 18 years and older
- Method of interview
- Questionnaire
- Supplementary notes
-
Figures rounded.
Source
- Show sources information
- As a Premium user you get access to the detailed source references and background information about this statistic.
- Show publisher information
- Release date
- October 2017
More information
- Region
- United Kingdom
- Survey time period
- October 2017
- Number of respondents
- 10,044 respondents
- Age group
- 18 years and older
- Method of interview
- Questionnaire
- Supplementary notes
-
Figures rounded.
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Statistics on "Personal savings in the United States"
- Overview
The most important statistics
- Personal saving rate in the United States from 1960 to 2018Personal saving rate in the U.S. 1960-2018
- Personal saving rate in the United States from May 2016 to May 2019Monthly personal saving rate in the U.S. 2016-2019
- Value of gross private savings in the United States from 1960 to 2018 (in trillion U.S. dollars)Gross private savings in the U.S. 1960-2018
- Value of personal savings in the United States from 1960 to 2018 (in billion U.S. dollars)Personal savings in the U.S. 1960-2018
- Savings practices
The most important statistics
- Assets of section 529 savings plan in the United States from 2001 to 2018(in billion U.S. dollars)Assets of section 529 savings plan in the U.S. 2001 to 2018
- Share of households owning mutual funds in the United States from 1980 to 2018Share of households owning mutual funds in the U.S. 1980-2018
- Which, if any, of the following types of savings/investments do you have?Savings and investment products owned in the U.S. 2016
- Have you done or considered doing any of the following over the past six months in order to save money?Saving money behavior in the U.S. 2017
- Share of adults who contributed to retirement savings accounts compared with the previous year in the United States in 2018Share of adults contributing to retirement savings accounts in U.S. 2018
- Reasons for saving
The most important statistics
- What are you currently saving for?Reasons for saving money in the U.S. 2017
- Reasons why families saved in the United States from 2010 to 2016Reasons why families saved in the U.S. 2010-2016
- Reasons for starting to save for retirement in the United States in 2017Reasons for starting to save for retirement in the U.S. 2017
- Percentage of American parents saving for their college education of their children from 2009 to 2018Percentage of American parents saving for college education of their children 2018
- What types of accounts do you have for your retirement savings?Accounts used for retirement savings in the U.S. 2019
- Family savings
The most important statistics
- Average family net worth in the United States from 1989 to 2016 (in thousand U.S. dollars)Average family net worth in the U.S. 1989-2016
- Share of families that saved in the United States from 1992 to 2016Share of families that saved in the U.S. 1992-2016
- Share of families that saved in the United States from 2001 to 2016, by ethnicityShare of families that saved in the U.S. 2001-2016, by ethnicity
- Share of families that saved in the United States from 2004 to 2016, by work status of headShare of families that saved in the U.S. 2004-2016, by work status of head
- Share of families with savings bonds in the United States from 2004 to 2016, by age of family headShare of families with savings bonds in the U.S. 2007-2016, by age of family head
- Share of families holding financial assets in the United States in 2016, by asset typeShare of families holding financial assets in the U.S. 2016, by asset type
- Which of the following do your kids have?Financial instruments and accounts owned by children in the U.S. 2019
- Savings deposits
The most important statistics
- Value of savings deposits at all depository institutions in the United States from 1980 to 2018 (in trillion U.S. dollars)Savings deposits at all depository institutions in the U.S. 1980-2018
- How much money do you have saved in your savings account?Amount of money saved in saving accounts in the United States 2018
- How much money do you have saved in your savings account? (by income)Amount of money saved in saving accounts in the United States 2016, by income
- How much money do you have saved in your savings account? (by gender)Amount of money saved in saving accounts in the United States 2018, by gender
- How much money do you have saved in your savings account?Amount of money saved in saving accounts in the United States 2017, by generation
- For how many months would your emergency fund cover your family's expenses?Length of time of emergency fund coverage of U.S. family expenses 2019
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Further Content: Statistics, Studies, and Topic Pages
Statistics
- Share of adults with cash savings in the United Kingdom (UK) 2017, by amount
- Monthly regular savings of the post-85 generation China 2014
- Italy: family savings 2016
- Amount saved monthly in Great Britain 2014, by age group
- Savings as a share of average income in Great Britain 2013 - 2015, by gender
- Main objectives of savings in France 2016
- Italy: financial wealth per capita 2006-2015
- Saving money by using the internet according to respondents in the UK 2012
- Average income and spending in Singapore FY 2012/2013, by income quintile
- Consumers who save money for Christmas in selected European countries 2015
- Italy: reasons to save money 2019
- Italy: quarterly global competitiveness index 1st quarter 2016
- Frequency of saving money for leisure travel in the U.S. as of April 2015, by age
- Share of consumers using active deal tactics in Canada 2015, by type
- Household saving rate of the United States from 2010 to 2017
- Amount of money U.S. consumers saved using coupons in the last year
- Trend of saving money among French youths 2015
Studies
- Savings in the United Kingdom (UK)
- The 2019 Retirement Confidence Survey
- Global Investor Study 2018
- The 2018 Retirement Confidence Survey
- Individual savings accounts in the United Kingdom (UK)
- The Aegon Retirement Readiness Survey 2019
- 2017 World Savings Day
- Global Investor Study 2017
- Report on financial investments of Italian households - Survey 2018
- The Aegon Retirement Readiness Survey 2018
- Report on financial investments of Italian households - Survey 2017
- The 2017 Retirement Confidence Survey
- Retirement assets worldwide
- Aviva Family Finances Report – Winter 2018
- The Aegon Retirement Readiness Survey 2016
Statistics on "Personal savings in the United States"
- Personal saving rate in the United States from 1960 to 2018
- Personal saving rate in the United States from May 2016 to May 2019
- Value of gross private savings in the United States from 1960 to 2018 (in trillion U.S. dollars)
- Value of personal savings in the United States from 1960 to 2018 (in billion U.S. dollars)
- Assets of section 529 savings plan in the United States from 2001 to 2018(in billion U.S. dollars)
- Share of households owning mutual funds in the United States from 1980 to 2018
- Which, if any, of the following types of savings/investments do you have?
- Have you done or considered doing any of the following over the past six months in order to save money?
- Share of adults who contributed to retirement savings accounts compared with the previous year in the United States in 2018
- What are you currently saving for?
- Reasons why families saved in the United States from 2010 to 2016
- Reasons for starting to save for retirement in the United States in 2017
- Percentage of American parents saving for their college education of their children from 2009 to 2018
- What types of accounts do you have for your retirement savings?
- Average family net worth in the United States from 1989 to 2016 (in thousand U.S. dollars)
- Share of families that saved in the United States from 1992 to 2016
- Share of families that saved in the United States from 2001 to 2016, by ethnicity
- Share of families that saved in the United States from 2004 to 2016, by work status of head
- Share of families with savings bonds in the United States from 2004 to 2016, by age of family head
- Share of families holding financial assets in the United States in 2016, by asset type
- Which of the following do your kids have?
- Value of savings deposits at all depository institutions in the United States from 1980 to 2018 (in trillion U.S. dollars)
- How much money do you have saved in your savings account?
- How much money do you have saved in your savings account? (by income)
- How much money do you have saved in your savings account? (by gender)
- How much money do you have saved in your savings account?
- For how many months would your emergency fund cover your family's expenses?
- Distribution of adults with cash savings in the United Kingdom (UK) in 2017, by amount
- Monthly regular savings of the post-85 generation in China as of 2014*
- In the last twelve months, what has been the saving situation of your family?
- Average monthly savings per head in Great Britain in summer and autumn 2014, by age group (in GBP)
- Amount of savings as percentage of average monthly income in Great Britain from 2013 to 2015, by gender
- Main reasons that push the French to save in France in 2016
- Financial wealth per capita in Italy from 2006 to 2015 (in million euros)
- Do you agree or disagree with the statement: "I'm able to save money by using the internet for certain tasks"?
- Average income and spending in Singapore in financial year 2012/2013, by income quintile (in Singapore dollars)
- Share of adults who save money to cover Christmas costs in Europe as of 2015, by country**
- What do you save money for?
- Quarterly index of global competitiveness for Italy from 1st quarter 2012 to 1st quarter 2016
- How often do you set aside money in advance specifically to cover the costs of your vacation or travels? (by age group)
- Share of consumers using active deal tactics when shopping in Canada as of September 2015, by type
- Rate of household saving in the United States from 2010 to 2015 and projection for 2016 to 2017
- Amount of money U.S. consumers saved using coupons in the last year in 2016, by net income households members
- As a young person, do you put money aside?
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