In 2022, approximately 63 percent of residents in the United Kingdom (UK) were saving for a rainy day among other reasons. Meanwhile, 35 percent of people mentioned that their main reason to cover short-term expenses such as a holiday. Retirement was another reason why people were saving money apart from the contributions made for their pensions.
Share of people mentioning the following reasons for saving in the United Kingdom (UK) in 2022
Characteristic
Share of respondents
As a result of the poor performance of my investments
1%
To cover education costs
5%
To help my (grand)children with a deposit for a house
7%
I received a large lump sum from an inheritance or other source
7%
To provide a regular income in the future, before I retire
11%
To leave an inheritance
13%
To cover the cost of long-term care, should I need it in later life
15%
To support my family
23%
To cover the costs of other major expenses, e.g. house deposit, wedding
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Financial Conduct Authority. (July 26, 2023). Share of people mentioning the following reasons for saving in the United Kingdom (UK) in 2022 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1369059/reasons-for-saving-in-the-united-kingdom/
Financial Conduct Authority. "Share of people mentioning the following reasons for saving in the United Kingdom (UK) in 2022." Chart. July 26, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1369059/reasons-for-saving-in-the-united-kingdom/
Financial Conduct Authority. (2023). Share of people mentioning the following reasons for saving in the United Kingdom (UK) in 2022. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1369059/reasons-for-saving-in-the-united-kingdom/
Financial Conduct Authority. "Share of People Mentioning The following Reasons for Saving in The United Kingdom (Uk) in 2022." Statista, Statista Inc., 26 Jul 2023, https://www.statista.com/statistics/1369059/reasons-for-saving-in-the-united-kingdom/
Financial Conduct Authority, Share of people mentioning the following reasons for saving in the United Kingdom (UK) in 2022 Statista, https://www.statista.com/statistics/1369059/reasons-for-saving-in-the-united-kingdom/ (last visited November 21, 2024)
Share of people mentioning the following reasons for saving in the United Kingdom (UK) in 2022 [Graph], Financial Conduct Authority, July 26, 2023. [Online]. Available: https://www.statista.com/statistics/1369059/reasons-for-saving-in-the-united-kingdom/
