Average Savings?

Reemo12

Hi All,

Im doing some research as part of a school project in order to find out what the avergae savings a briton has in the bank? and wanted to know what your average savings are?

To be more specific cash in the bank (not equity on house etc)?

lisyloo

£71K including NS&I savings certificates (if you are counting these).
£59K without

I suspect this is not at all typical.

Reemo12

Thanks for your reply Lisyloo, looks like your sorted.

misspiggy_2

£29k in NS and I savings
approx £3k in the bank (although working on that now that my mortgage has finally been paid in full!)

pinkteapot

MrTeapot and I have £46k in joint savings and a further £12k in investments.

You won't get a reflective average by surveying this board. Asking on both here and the debt-free wannabe board would average out the responses to some extent. I only started reading this board when I had a reasonable amount in savings and wanted to know what to do with it. Alternatively, post the survey in the Money Savers Arms because people from across the forums read that.

HappyMJ

Reemo12 wrote: »

Hi All,

Im doing some research as part of a school project in order to find out what the avergae savings a briton has in the bank? and wanted to know what your average savings are?

To be more specific cash in the bank (not equity on house etc)?

If I include what's in my offset account then about £60,000 if not then none...eeeekk why do I have so much. I need to spend more. It depends on age as well people in their 20's won't have much and people in their 60's will have plenty.

I think I read somewhere if you added everyone up and sorted it you'll get a median figure of around £7,000.

misspiggy_2

Additionally, you may also need to consider the age of the respondent's to the survey, otherwise it may not actually be very reflective of the average Briton. Surely those in the age category of 16 to 20 are undoubtedly going to have less savings than those in the age range of 40 to 50 .... just something to consider

noh

You're not going to find out what the average Britons savings are by asking on here.
All you will find out is the level of savings a small sample of Moneysavingexpert.com forum members have.

If you use Google you will come up with the results of various surveys which give average figures of between £2k and £7k

Newbie2saving

I would be a little catious using data provided on this site. It is bound to be a little biased to those with an interest in savings. I would guess that a lot of people in the UK have little spare cash to save or are oblivious to interest rates, chasing the best products and accounts. Anyone posting on this website has either realised that they need to start being more saving savvy, they have been forced into researching (personal circumstances change such as inheritance / redundancy etc), has an interest in finances or has money to save, hence not your average saver. Good luck with your project. This article is interesting...

http://www.fairinvestment.co.uk/News/banking-news-Savings-map-shows-higher-savings-plans-for-many-in-2011-18471513.html

Reemo12

Thanks HappyMJ for the info, may i ask all your ages?

misspiggy_2

34 years old