How savings goals change across generations in the UK

The research explores what people’s main financial goals are this year, what they are currently saving for, how structured their approach to saving really is, and how those priorities shift with age. What emerges is a clear generational story. Younger adults are saving, but often without a clear roadmap.

1) Younger adults are saving, but often without a roadmap

The data suggests that younger adults are far from disengaged with saving. In fact, many are actively putting money aside. The challenge is that for a large share of under-25s, that saving is not yet tied to a clear plan.

Among 18- to 24-year-olds, 42.4% say they are currently saving into general savings with no specific target. At the same time, 31.7% say they have a goal, but no clear plan for how to reach it. Just 26.3% say they have a clear savings plan with a target and timeline.

Their priorities also reflect a mix of present-day lifestyle goals and longer-term ambitions. Saving for a holiday and saving for a house deposit are the joint top goals for this age group, both at 22.4%.

While younger adults clearly have financial goals, many are still working out how those ambitions translate into day-to-day saving behaviour. This also shows why savings tips are often most relevant when they focus on structure, confidence and understanding different saving options, rather than assuming everyone is starting from the same place.This points to a stage in life where people are motivated to save, but are often still working out what good saving looks like in practice.

2) From 25 onwards, savings goals become more defined

There is a noticeable shift once people move into the 25 to 34 bracket.

This age group is the most likely of any surveyed to say they have a clear savings plan with a target and timeline, at 31.2%. Their priorities also become more practical and better defined, with 45.1% currently saving for an emergency fund, 40.7% for a holiday, and 29.0% for a house deposit.

This is the point where saving appears to move from a general intention into something more structured. The data suggests that by the late 20s and early 30s, many people are balancing short-term enjoyment with a growing focus on financial resilience and bigger milestones.

For this age group, savings tips are likely to resonate most when they reflect the balance between short-term spending priorities and longer-term financial milestones.

3) In your 30s and early 40s, saving becomes about stability

For those aged 35 to 44, the emphasis shifts further towards protection, responsibility and long-term security.

Some 44.6% are currently saving for an emergency fund, 42.0% for holidays or travel, 32.7% for home improvements, and 32.4% for their children’s future. Meanwhile, 17.2% say their main financial goal this year is paying off debt, making it the top single goal for this group. For those unsure where to start, MoneyHelper offers free, government-backed guidance on budgeting, debt, savings and managing money day to day.

This reflects a more complex stage of life, where saving is often shaped by competing pressures: children, homes, rising bills, debt, and the need to build a safety net.

By the time people reach 45 to 54, retirement unsurprisingly becomes a much more visible priority. In this group, 39.1% say they are currently saving for retirement, and 19.1% say it is their main financial goal this year.

6) Homeownership plays a major role in shaping savings goals

Housing status is one of the clearest dividing lines in the data.

Among people who do not own a home but are currently saving to buy one, 49.6% say their main financial goal this year is saving for a house deposit. Looking at what they are currently saving for, that rises to 69.6%.

However, among people who do not own a home and are not currently saving for a deposit, the picture looks very different. In this group, 23.3% say they do not have a financial goal this year, 19.0% are focused on building an emergency fund, and 16.5% say paying off debt is their main priority.

This suggests that homeownership ambition is strongly linked to whether people feel able to move beyond financial firefighting and towards a larger long-term target.

7) What this means for savers today

The findings show that saving habits are not static. They evolve with life stage, financial pressure, and confidence.

For younger adults, the challenge is often turning intention into structure. For those in their 30s and 40s, the focus shifts towards balancing emergency savings, family responsibilities and longer-term planning. In later life, the priority may become making savings work harder, protecting what has already been built and ensuring it can support people for the years ahead.

The data also suggests that as people move through life, both their savings goals and their understanding of savings products may become clearer. Just 27.3% of 18 to 24-year-olds say they currently hold savings in a Cash ISA, compared with 36.7% of 25 to 34-year-olds, 48.7% of 35 to 44-year-olds and 61.6% of over-65s. This may reflect not only changing financial priorities, but also the financial knowledge and confidence people build with age and experience.

More broadly, as savings habits mature, people may be more likely to separate savings from day-to-day spending and give their money a more defined purpose. For savers trying to move from vague intentions to clearer progress, structure matters. 

Whether the goal is a house deposit, a rainy day fund, retirement, or simply greater financial confidence, having the right savings habits and the right home for that money can make a meaningful difference. Even saving a small amount regularly can help build momentum over time, turning good intentions into a habit that feels manageable and sustainable.