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(1) from Nationwide.
While close to a third (32%) of adults plan to save more than last year and 43 per cent 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.
Nationwide commissioned the poll of over 2,000 UK adults to better understand savings ambitions versus realities ahead of the New Year.
Savings goals:
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 per cent. 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 per cent of savers will begin in January, while under one per cent wait until November.
Top reasons to save in 2026:
The top reasons to save in 2026 include:
- Emergency fund (43%)
- Holidays (36%)
- Retirement (23%)
- Home improvements (20%)
- Their children’s futures (20%)
Interestingly, only 17 per cent of 35-44s are saving for retirement versus 46 per cent of the same age group prioritising saving for an emergency. Only 11 per cent would go to AI such as ChatGPT.
TikTok trends:
Encouragingly, nearly half (48%) look to financial services for savings related information, including banks, building societies, financial advisors. However, a quarter (25%) don’t seek any advice.
With the rise in viral TikTok trends, 62 per cent of 25-34s would consider savings challenges such as ‘100 envelope challenge’, ‘no spend’ or ‘revenge saving’.
2025 interest earnt:
Savers earned an average of £436 in interest. Just over a quarter (26%) didn’t touch their savings in 2025, suggesting resilient emergency buffers.
Just over one in eight (13%) savers earned no interest throughout the year, with 19 per cent using current accounts to save as opposed to a dedicated savings account. Two in ten (21%) earned less than £50 despite higher rates and better returns from ISAs or savings accounts.
Richard Stocker, Head of Savings at Nationwide, said: “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.
“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.”
In 2025 – eligible Nationwide customers will have been able to benefit from:
- £50 - The Nationwide Big Thank You
- £175 – current account switch offer
- £100 - Fairer Share payment (paid the last three years)
- FlexDirect current account - 1% cashback for 12months, 5% interest on balance, access to 6.5% saver
Nationwide’s top savings tips for 2026:
- Follow the golden rule: Never leave savings in your current account, even if you think you might need them. Move them into a savings account or ISA to earn interest.
- Use smart tools: Try Nationwide’s budgeting tool in our app to track spending and set goals.
- Be ruthless: Separate ‘must-haves’ from “nice-to-haves” and put the difference into savings.
- Do your research: Don’t rely solely on social media or AI for financial advice and check trusted sources.
- Harness compound interest: Even small amounts saved early can grow significantly over time.
