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
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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 July 22, 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 July 22, 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: July 22, 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 July 22, 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/
