{"id":956,"date":"2025-05-22T13:58:40","date_gmt":"2025-05-22T13:58:40","guid":{"rendered":"https:\/\/alaskanativeowned.com\/?p=956"},"modified":"2025-05-28T20:28:52","modified_gmt":"2025-05-28T20:28:52","slug":"the-average-amount-brits-have-in-savings-according-to-their-age","status":"publish","type":"post","link":"https:\/\/alaskanativeowned.com\/index.php\/2025\/05\/22\/the-average-amount-brits-have-in-savings-according-to-their-age\/","title":{"rendered":"The average amount Brits have in savings, according to their age"},"content":{"rendered":"<figure class=\"img-container shareable-item wp-caption\">\n<div class=\"img-wrap\">\n\t\t<img width=\"646\" height=\"431\" src=\"https:\/\/alaskanativeowned.com\/wp-content\/uploads\/2025\/05\/GettyImages-2210835341-813e.jpg\" class=\"article-image wp-image-23217206\" alt=\"\" loading=\"lazy\" \/>\t<\/div><figcaption>Are you a saver or a spender? (Picture: Getty Images)<\/figcaption><\/figure>\n<div class=\"metro-article-audio-player\" data-vars-type=\"article-audio-player\">\n<div class=\"metro-article-audio-player-play-row\">\n\t\t\t\t<button class=\"metro-article-audio-player-play-button\"><br \/>\n\t\t\t\t\t<title>Listen to article<\/title>\t\t\t\t\t<span>Listen to article<\/span><br \/>\n\t\t\t\t<\/button><\/p>\n<div class=\"img-container\"><img class=\"sponsor-image\" src=\"https:\/\/metro.co.uk\/wp-content\/themes\/metro\/includes\/site-blocks\/article-audio\/assets\/powered-by.png\" alt=\"Powered by\" data-rewritten=\"false\" \/><\/div>\n<\/p><\/div>\n<div class=\"audio-controls hidden\">\n\t\t\t\t<audio class=\"audio-element\" src=\"https:\/\/metro.co.uk\/wp-content\/uploads\/2025\/05\/ElevenLabs_2025-05-22T13_46_29_Axell-British-YouTube-Personality-_pvc_sp100_s50_sb75_se30_b_m2-8540.mp3\" controls id=\"audio-683771f4548cc\">\t\t\t<\/p>\n<p>\t\t\t\t\tYour browser does not support the audio element.<br \/>\n\t\t\t\t<\/audio>\n\t\t\t<\/div>\n<\/p><\/div>\n<p>When it comes to <a href=\"\/\">money<\/a>, people can be very cloak and dagger.<\/p>\n<p>From not wanting to brag about <a href=\"https:\/\/metro.co.uk\/2025\/05\/21\/everything-can-afford-different-levels-wealth-private-jets-housekeepers-23097655\/\" target=\"_blank\" rel=\"noreferrer noopener\">what they earn<\/a> to worrying they might be behind in terms of <a data-track=\"inline-tag-auto-link_article\" href=\"https:\/\/metro.co.uk\/tag\/savings\/\">savings<\/a>, it&#8217;s a very sensitive subject.<\/p>\n<p>But while it <em>would <\/em>be cringe to bang on about a <a href=\"https:\/\/metro.co.uk\/2024\/08\/06\/give-a-promotion-keep-passed-21364233\/\" target=\"_blank\" rel=\"noreferrer noopener\">huge promotion<\/a> every two minutes, there are times when being transparent is key: whether that&#8217;s to provide more <a href=\"https:\/\/metro.co.uk\/2025\/05\/14\/wealthy-differently-money-can-23082995\/\">financial education<\/a> or to feel less pressure about your monetary situation.<\/p>\n<p>So, in the spirit of sharing, <strong>Metro<\/strong> found out <a href=\"https:\/\/metro.co.uk\/2025\/05\/19\/im-53-never-savings-thought-normal-23114377\/\" target=\"_blank\" rel=\"noreferrer noopener\">how much money Brits have saved<\/a> on average, according to their age group.<\/p>\n<p>Heads up: It&#8217;s not as scary &#8211; or high &#8211; as you might think. For those who aren&#8217;t quite there yet, don&#8217;t worry either. <a href=\"https:\/\/metro.co.uk\/2025\/05\/18\/this-30-broadband-rule-proves-whether-paying-odds-23091628\/\">Saving<\/a> in whatever capacity you can currently afford is still good practice.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-tiktok wp-block-embed-tiktok\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"tiktok-embed\" cite=\"https:\/\/www.tiktok.com\/@shads.invests\/video\/7472084006570347798\" data-video-id=\"7472084006570347798\" data-embed-from=\"oembed\" style=\"max-width:605px;min-width:325px\">\n<section> <a target=\"_blank\" title=\"@shads.invests\" href=\"https:\/\/www.tiktok.com\/@shads.invests?refer=embed\" rel=\"noopener\">@shads.invests<\/a> <\/p>\n<p>Savings in the U.K. by age \ud83d\udcb0 . . . <a title=\"savings\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/savings?refer=embed\" rel=\"noopener\">#savings<\/a> <a title=\"personalfinance\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/personalfinance?refer=embed\" rel=\"noopener\">#personalfinance<\/a> <a title=\"finance\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/finance?refer=embed\" rel=\"noopener\">#finance<\/a> <a title=\"financetiktok\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/financetiktok?refer=embed\" rel=\"noopener\">#financetiktok<\/a> <a title=\"savingmoney\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/savingmoney?refer=embed\" rel=\"noopener\">#savingmoney<\/a> <a title=\"savingtips\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/savingtips?refer=embed\" rel=\"noopener\">#savingtips<\/a> <a title=\"savingmoneytips\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/savingmoneytips?refer=embed\" rel=\"noopener\">#savingmoneytips<\/a> <\/p>\n<p> <a target=\"_blank\" title=\"\u266c original sound - Shads | Personal Finance Coach\" href=\"https:\/\/www.tiktok.com\/music\/original-sound-7472084079329037078?refer=embed\" rel=\"noopener\">\u266c original sound &#8211; Shads | Personal Finance Coach<\/a> <\/section>\n<\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\">How much money does the average UK person have saved?<\/h2>\n<p>On <a href=\"https:\/\/metro.co.uk\/tag\/tiktok\/\">TikTok<\/a>, personal <a href=\"https:\/\/metro.co.uk\/2025\/05\/16\/thousands-households-get-500-cost-living-support-check-qualify-23098248\/\">finance<\/a> coach Shads shared a video looking at a <a href=\"https:\/\/metro.co.uk\/2024\/09\/06\/this-average-amount-money-people-saved-30s-21559333\/\" target=\"_blank\" rel=\"noreferrer noopener\">Finder study on what people have in their savings<\/a> at six different age groups, including the the percentage of those who have less than \u00a31,000, and the percentage of people with over \u00a310,000. <\/p>\n<p>How do you compare?<\/p>\n<h2 class=\"wp-block-heading\">18-24<\/h2>\n<p>According to the research, those between the ages of 18 and 24 have \u00a33,636 in their savings on average. Shads noted that 59.9% of this category have less than \u00a31,000, while just 3.8% have over \u00a310,000.<\/p>\n<p>In this category, Forbes states the <a href=\"https:\/\/metro.co.uk\/2024\/04\/10\/average-salary-uk-based-age-get-2-20616977\/\">average UK annual salary<\/a> (for those who work 30 hours a week or more) is between \u00a324,440 and \u00a332,292. <\/p>\n<p>Of course, the amount you can save per month from your wage depends on your circumstances. But if you&#8217;re unsure of how much to put away for fear of not having enough left at the end of the month, use the <a href=\"https:\/\/metro.co.uk\/2025\/05\/13\/struggling-save-money-50-30-20-rule-help-budget-2-23014264\/#:~:text=Essentially%2C%20the%20rule%20involves%20dividing,for%20savings%20or%20debt%20repayments.\">50\/30\/20 rule<\/a>.<\/p>\n<p>This is where you allocate 50% of your paycheck to needs, 30% for wants and 20% for savings or debt repayments. The idea is that the more you earn as you get older (as you&#8217;ll find out in a minute), the more you can save per month statistically.<\/p>\n<h2 class=\"wp-block-heading\">25-34<\/h2>\n<p>In the 25-34 age bracket, the savings number jumps slightly to \u00a33,748. Plus, 59.2% have less than \u00a31,000, and 8.6% have over \u00a310,000.<\/p>\n<p>Average wages differ here, too. Those at the younger end of the scale, up to 29 years old, receive \u00a332,292, which increases increases to \u00a339,988 between 30-34.<\/p>\n<h2 class=\"wp-block-heading\">35-44<\/h2>\n<p>Aged 35 and older? Shads notes that the people in this age group typically have \u00a35,714 in <a href=\"https:\/\/metro.co.uk\/2025\/05\/15\/many-hide-cash-partner-secret-savings-actually-a-good-thing-23091980\/\">savings<\/a>, but 50.8% have less than \u00a31,000 and 12.4% have over \u00a310,000.<\/p>\n<p>Earnings-wise, it&#8217;s \u00a339,988 on average for those up to 39. From 40-49 &#8211; which includes the people at the higher end of this category &#8211; ONS data puts the figure at \u00a342,796.<\/p>\n<h2 class=\"wp-block-heading\">45-54<\/h2>\n<p>If you&#8217;re aged between 45 and 54, the standard amount of savings you have put away is \u00a39,402. In this demographic, the percentage with less than \u00a31,000 falls to 44%, and people with over \u00a310,000 also increases to 15.5%.<\/p>\n<p>We already know the average salary up to 49 years. But from 50-59, it actually drops to \u00a340,456. <\/p>\n<p>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.<\/p>\n<p>After 50, pay may decrease due to several factors, such as early <a href=\"https:\/\/metro.co.uk\/2025\/05\/17\/pensions-much-save-a-month-start-23005884\/\">retirement<\/a>, going part-time, leaving the workforce, or ill health.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-tiktok wp-block-embed-tiktok\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"tiktok-embed\" cite=\"https:\/\/www.tiktok.com\/@tempahtime\/video\/7199338313604402438\" data-video-id=\"7199338313604402438\" data-embed-from=\"oembed\" style=\"max-width:605px;min-width:325px\">\n<section> <a target=\"_blank\" title=\"@tempahtime\" href=\"https:\/\/www.tiktok.com\/@tempahtime?refer=embed\" rel=\"noopener\">@tempahtime<\/a> <\/p>\n<p>Follow for more money and finance tips  <a title=\"learnontiktok\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/learnontiktok?refer=embed\" rel=\"noopener\">#learnontiktok<\/a> <a title=\"save\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/save?refer=embed\" rel=\"noopener\">#save<\/a> <a title=\"personalfinance\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/personalfinance?refer=embed\" rel=\"noopener\">#personalfinance<\/a> <a title=\"budgetingtips\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/budgetingtips?refer=embed\" rel=\"noopener\">#budgetingtips<\/a> <\/p>\n<p> <a target=\"_blank\" title=\"\u266c Pieces (Solo Piano Version) - Danilo Stankovic\" href=\"https:\/\/www.tiktok.com\/music\/Pieces-Solo-Piano-Version-6777274113254754306?refer=embed\" rel=\"noopener\">\u266c Pieces (Solo Piano Version) &#8211; Danilo Stankovic<\/a> <\/section>\n<\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\">55-73<\/h2>\n<p>Despite wages declining, or people receiving early or <a href=\"https:\/\/metro.co.uk\/2025\/05\/17\/1-pension-trick-save-losing-thousands-emergency-tax-23103718\/\">state pension<\/a>, there&#8217;s quite a jump in the amount of savings this category has. On average, this age group has \u00a318,245 stashed away, while 37.9% have less than \u00a31,000. Finally, 27.5% have over \u00a310,000.<\/p>\n<p>From 60, the annual salary decreases to below the 30-39 age group. Those still in the workforce will earn, on average, \u00a336,036.<\/p>\n<h2 class=\"wp-block-heading\">74+<\/h2>\n<p>There&#8217;s another significant increase in terms of savings for the 74 and above age group. During this period of your life, the average savings amount is \u00a336,940. Meanwhile, 17.8% have less than \u00a31,000, whereas 44.6% have over \u00a310,000.<\/p>\n<p>They actually don&#8217;t have an average wage though, as the majority of people are retired. In 2023, the ONS reported that 94.4% of people aged 75 to 84 years were retired. Among those aged 85 and over, this rises to 95.2%.<\/p>\n<h2 class=\"wp-block-heading\">A finance expert&#8217;s top saving tips<\/h2>\n<p>Looking to boost your savings for a brighter financial future? <strong>Metro<\/strong> spoke to Matthew Sheeran, money saving expert at&nbsp;<a href=\"https:\/\/www.moneywellness.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Money Wellness<\/a>.<\/p>\n<p>Firstly, he says it&#8217;s important to avoid putting pressure on yourself to save hundreds straight away, as &#8216;even a pound or two a day can make a difference over time if you stick with it.&#8217;<\/p>\n<p>If you&#8217;re a saving newbie, Matthew recommends <a href=\"https:\/\/metro.co.uk\/2021\/09\/18\/mum-shares-how-to-avoid-overspending-with-this-cash-stuffing-technique-15278838\/\" target=\"_blank\" rel=\"noreferrer noopener\">the envelope method<\/a>. Also known as &#8216;cash stuffing&#8217;, 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.<\/p>\n<p>&#8216;Another simple trick is to save what you didn\u2019t spend,&#8217; adds Matthew. &#8216;If you get a discount on something, or you cancel a subscription, move that money straight into savings. You didn\u2019t miss it, so it\u2019s the perfect time to build your emergency fund.&#8217;<\/p>\n<p>If things don&#8217;t go to plan though, he highlights there is help out there, &#8216;whether you\u2019re struggling with debt or just want a bit of help <a href=\"https:\/\/metro.co.uk\/2024\/12\/28\/7-simple-money-saving-hacks-will-boost-finances-2025-22260595\/\">getting your finances back on track.&#8217;<\/a><\/p>\n<p class=\"\"><strong>Do you have a story to share?<\/strong><\/p>\n<p class=\"\"><strong>Get in touch by emailing <a href=\"mailto:MetroLifestyleTeam@Metro.co.uk\">MetroLifestyleTeam@Metro.co.uk<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you a saver or a spender? (Picture: Getty Images) Listen to article Listen to article Your browser does not support the audio element. When it comes to money, people can be very cloak and dagger. From not wanting to brag about what they earn to worrying they might be behind in terms of savings, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/956"}],"collection":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/comments?post=956"}],"version-history":[{"count":2,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/956\/revisions"}],"predecessor-version":[{"id":959,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/956\/revisions\/959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/media\/958"}],"wp:attachment":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/media?parent=956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/categories?post=956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/tags?post=956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}