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Brits start saving at age 25


Published :
Thu, 25 Feb 2010 11:37
By : financemarkets.co.uk
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Brits start saving at age 25

Most Brits don’t get serious about putting money aside into a savings account until they reach age 25, according to a study by National Savings and Investments (NS&I).


Research by the savings provider found more than a fifth (22%) of UK consumers don’t start setting aside money until after their 30th birthday, while a further 13% fail to start saving until they hit 40.


Nearly one in seven (15%) confessed to never saving anything.


Money for a holiday is biggest motivator for people to start saving, with 67% of women citing this as what kick-started their savings habit.


Planning for the future is the next most important concern, cited by 60% of men as they key reason they started saving.


“It’s great to see that most Britons started to save seriously in their mid-twenties,” said John Prout, NS&I savings spokesperson.


“And for those who have not yet developed the habit it is not too late to start.”






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