How Much Should I Have in Savings? A UK Guide by Age
Last updated: April 2026 | Reading time: 7 minutes
One of the most common money questions — and one nobody really teaches you in school. The honest answer is: it depends. But there are some solid benchmarks to work from.
The emergency fund rule — start here
Before thinking about savings goals or investments, you need an emergency fund. This is money sitting in an easy access account that you don’t touch unless something goes genuinely wrong — job loss, boiler breakdown, car repair.
The standard advice is 3 to 6 months of essential expenses. Work out what you spend each month on rent/mortgage, food, transport, and essential bills — then multiply by three as your minimum target. For most people in the UK, this means somewhere between £3,000 and £12,000 depending on your cost of living.
Savings benchmarks by age
These aren’t rules — they’re realistic targets based on median UK incomes and typical life stages. Use them as a rough guide, not a verdict on whether you’re doing well or badly.
Age 18–22: Target £500–£2,000
You’re just starting out. The goal at this stage isn’t a massive savings pot — it’s building the habit. Even saving £50–£100 per month consistently at 20 puts you miles ahead of most people. Priority: open a high-interest easy access savings account and start an emergency fund. Even £500 covers most unexpected costs at this stage of life.
Age 22–25: Target £2,000–£6,000
You’re probably in your first proper job now. This is when the emergency fund becomes more important — you’ve got rent, bills, and real responsibilities. Aim to have 3 months of expenses covered. If your employer offers a pension and you’re not contributing, you’re leaving free money on the table — auto-enrolment means they’ll match your contributions up to a point.
Age 25–30: Target £6,000–£20,000
Life is getting more expensive. You might be saving for a house deposit, thinking about a car, or building wealth more seriously. At this stage, splitting your savings makes sense — emergency fund in easy access, longer-term savings in a Cash ISA or Stocks and Shares ISA. The average first-time buyer deposit in the UK is around £53,000.
Age 30–40: Target 1–2x your annual salary
This is a common benchmark from financial planners. If you earn £35,000 a year, having £35,000–£70,000 in total assets (savings plus pension) by 40 puts you in a solid position. Pension contributions become more important here — compound growth over 25+ years is where the real wealth building happens.
The UK average — where do people actually sit?
- The average UK savings amount is around £17,773
- The median (middle figure) is closer to £5,000–£7,000
- Around 1 in 4 UK adults has less than £100 in savings
- The average savings of a 30-year-old is approximately £6,000
So if you’re reading this and feeling behind — you’re probably not as far off as you think. And the fact you’re researching this puts you ahead of most.
How to build savings faster
Pay yourself first. Set up a standing order to move money into savings on payday — before you have a chance to spend it. Even £50 a month adds up to £600 a year plus interest.
Use the best rate available. Money sitting in a current account earning 0% is costing you. At 4.5% AER, £5,000 earns you £225 in a year just sitting there.
Round-up apps make it effortless. Apps like Chip and Plum will automatically save small amounts based on your spending patterns. Many people save hundreds a year without feeling it.
Automate a pay rise. Next time you get a pay rise, increase your savings amount by the same percentage. You were living fine on your old salary — put the difference to work.
Use our calculator
Want to know how long it’ll take to reach your savings goal? Use our savings account calculator — enter your starting balance, monthly contribution, and interest rate, and it shows you exactly when you’ll get there.
Key takeaways
- Start with an emergency fund of 3 months’ expenses — that’s the foundation
- Age benchmarks are guides, not judgements — consistency beats perfection
- The average UK adult has £5,000–£7,000 saved; you’re not alone if you’re at zero
- Small automatic contributions compound into significant sums over time
- Getting your money into a high-interest account costs you nothing and earns you hundreds per year
This article is for informational purposes only and does not constitute financial advice. Individual circumstances vary — consider speaking to a financial adviser for personalised guidance.