Brits plan to save an average of £7,535 in 2026, while those aged 25-34 are hoping to almost double that amount, according to new research from Nationwide. The data is based on a poll of over 2,000 UK adults to better understand savings ambitions versus realities ahead of the New Year.
While close to a third (32%) of adults plan to save more than last year and 43% expect to save the same amount, one in ten (10%) don’t plan to save anything at all.
This year, Brits earned an average of £436 interest on their savings, potentially fuelled by higher interest rates. But just over one in eight (13%) earned no interest, with many keeping their money in current accounts – earning little or no return.
Younger adults (25-34s) are by far the most ambitious in their saving goals – hoping to save an average of £14,912. Perhaps more realistically, more than half of this age bracket (35%) expect to save less than £5,000.
However, these high savings expectations come at a price – over three quarters (78%) of 18–24-year-olds confess the thought of trying to save causes them stress in comparison to over half (55%) of 45-54s. This may be due to the many financial expectations and pressures at that stage of life – from buying a first home to building a family.
Men who plan to save are aiming for bigger pots, with an average target of £9,360 compared to £5,826 for women. However, when asked who the best at saving is – ‘Mum’ came second only (16%) to ‘my partner’ (21%), Dad lagging behind at 13%. While the ‘worst’ offenders at saving went to ‘my children’ (14%) and ‘my brother’ (11%) just behind.
Meanwhile, the “fresh start” effect is strong: 69% of savers will begin in January, while under one per cent wait until November.
The top reasons to save in 2026 include:
- Emergency fund (43%)
- Holidays (36%)
- Retirement (23%)
- Home improvements (20%)
- Their children’s futures (20%)
“It’s encouraging that most people aim to save in 2026, with many planning to put away more next year. However, too many are missing out on interest by leaving money in current accounts,” said Richard Stocker, Head of Savings at Nationwide.
“Our advice is simple: start early and save regularly to build a habit. Make use of helpful tools such as the budget calculator on our app and benefit from incentives such as our £175 bank account switching offer – which is a great way to kick start a savings habit.”
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