![\"Human](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/09\/GettyImages-2228767585.jpg\")
\n\t\tAre you a saver or a spender? (Picture: Getty Images)<\/p>\n
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\n\t\tAre you a saver or a spender? (Picture: Getty Images)<\/p>\n
People can be surprisingly secretive when it comes to money.<\/p>\n
From not wanting to brag about what they earn<\/a> to worrying they might be behind in terms of savings<\/a>, it\u2019s a very sensitive subject.<\/p>\n But while it would be cringe to bang on about a huge promotion<\/a> every two minutes, there are times when being transparent is key: whether that\u2019s to provide more financial education<\/a> or to feel less pressure about your monetary situation.<\/p>\n So, in the spirit of sharing, Metro<\/strong> found out how much money Brits have saved<\/a> on average, according to their age group.<\/p>\n Heads up: it\u2019s not as scary \u2013 or high \u2013 as you might think. And for those who aren\u2019t quite there yet, don\u2019t worry. Saving in whatever capacity you can currently afford is still good practice.<\/p>\n How much money does the average UK person have saved?<\/p>\n On TikTok<\/a>, personal finance<\/a> coach Shads shared a video looking at a 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 How do you compare?<\/p>\n 18-24<\/p>\n According to the research, those between the ages of 18 and 24 have \u00a33,636<\/strong> 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 In this category, Forbes states the average UK annual salary<\/a> (for those who work 30 hours a week or more) is between \u00a324,440 and \u00a332,292. <\/p>\n Of course, the amount you can save per month from your wage depends on your circumstances. But if you\u2019re unsure of how much to put away for fear of not having enough left at the end of the month, use the 50\/30\/20 rule<\/a>.<\/p>\n 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\u2019ll find out in a minute), the more you can save per month statistically.<\/p>\n 25-34<\/p>\n In the 25-34 age bracket, the savings number jumps slightly to \u00a33,748<\/strong>. Plus, 59.2% have less than \u00a31,000, and 8.6% have over \u00a310,000.<\/p>\n 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 35-44<\/p>\n Aged 35 and older? Shads notes that the people in this age group typically have \u00a35,714<\/strong> in savings<\/a>, but 50.8% have less than \u00a31,000 and 12.4% have over \u00a310,000.<\/p>\n Earnings-wise, it\u2019s \u00a339,988 on average for those up to 39. From 40-49 \u2013 which includes the people at the higher end of this category \u2013 ONS data puts the figure at \u00a342,796.<\/p>\n 45-54<\/p>\n If you\u2019re aged between 45 and 54, the standard amount of savings you have put away is \u00a39,402<\/strong>. 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 We already know the average salary up to 49 years. But from 50-59, it actually drops to \u00a340,456. <\/p>\n 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 After 50, pay may decrease due to several factors, such as early retirement<\/a>, going part-time, leaving the workforce, or ill health.<\/p>\n 55-73<\/p>\n Despite wages declining, or people receiving early or state pension<\/a>, there\u2019s quite a jump in the amount of savings this category has. On average, this age group has \u00a318,245<\/strong> stashed away, while 37.9% have less than \u00a31,000. Finally, 27.5% have over \u00a310,000.<\/p>\n 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 74+<\/p>\n There\u2019s 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<\/strong>. Meanwhile, 17.8% have less than \u00a31,000, whereas 44.6% have over \u00a310,000.<\/p>\n They actually don\u2019t 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 A finance expert\u2019s top saving tips<\/p>\n Looking to boost your savings for a brighter financial future? Metro<\/strong> spoke to Matthew Sheeran, money saving expert at\u00a0Money Wellness<\/a>.<\/p>\n Firstly, he says it\u2019s important to avoid putting pressure on yourself to save hundreds straight away, as \u2018even a pound or two a day can make a difference over time if you stick with it.\u2019<\/p>\n If you\u2019re a saving newbie, Matthew recommends the envelope method<\/a>. Also known as \u2018cash stuffing\u2019, 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 \u2018Another simple trick is to save what you didn\u2019t spend,\u2019 adds Matthew. \u2018If 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.\u2019<\/p>\n If things don\u2019t go to plan though, he highlights there is help out there, \u2018whether you\u2019re struggling with debt or just want a bit of help getting your finances back on track.\u2019<\/a><\/p>\n Do you have a story to share?<\/strong><\/p>\n Get in touch by emailing MetroLifestyleTeam@Metro.co.uk<\/a>.<\/strong><\/p>\n Arrow Arrow Arrow
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