How much should I have in savings? Average savings by age

We look at how much you should aim to have in your savings at every decade of your life, and how you can go about achieving this.

Father and son saving money in a piggy bank
(Image credit: Miljan Živković via Getty Images)

Understanding how much of your income you should be saving is an important part of taking control of your finances.

Once you build a good saving habit, you will find it much easier to achieve your broader financial goals like saving up for a house deposit, a wedding, or buying your dream car.

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Age

Average Savings

18 to 24

£2,481.16

25 to 34

£3,544.16

35 to 44

£5,996

45 to 54

£11,014

55 and over

£20,020

Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.