Having surveyed 2000 people across Britain in August of this year, the Birmingham Midshires Building Society reported that the average person (they mean just adults, though) had £7500 in savings. In September National Savings & Investments (NSI) reported that the average person had £17,300 in all types of savings, including investments, bonds, and other non property-assets. NSI also also reckon that monthly savings are, on average, 6.8% of income or about £88/month.
These figures belie some other facts, though. About 4 million households in the UK (so that's up to 9 million adults, or 18% of the adult population) have barely any cash or analogous assets. They are the "financially excluded". So when you see an estimate of £7500 per adult, that's really less than 0 for about 8 million people, and (on average) £9000 for the rest. Of course, we know some people are stinking rich, so maybe more like just £2000 or so (on average) for an ordinary person assuming they have any savings at all.
The recommended value of cash savings a person should have, is 3 months worth of your usual income (salary and otherwise).
These figures belie some other facts, though. About 4 million households in the UK (so that's up to 9 million adults, or 18% of the adult population) have barely any cash or analogous assets. They are the "financially excluded". So when you see an estimate of £7500 per adult, that's really less than 0 for about 8 million people, and (on average) £9000 for the rest. Of course, we know some people are stinking rich, so maybe more like just £2000 or so (on average) for an ordinary person assuming they have any savings at all.
The recommended value of cash savings a person should have, is 3 months worth of your usual income (salary and otherwise).
