Nationwide has released its latest findings on the state of personal savings in the UK, revealing an average interest of £436 for 2025. As interest rates continue to fluctuate, more Brits are looking to save with an eye on the future. But with a challenging economic landscape ahead, a growing number of people are contemplating ambitious saving goals for 2026. Nationwide’s survey provides a fascinating look at where people are putting their money—and how they plan to save even more in the coming year.
Brits Set to Save More in 2026, But Many Miss Out on Potential Interest Gains
Nationwide’s findings underscore an increasing trend of UK savers planning to set aside more money in 2026, with the average savings target set at £7,535. While a significant portion of the population intends to save more, a surprising number of savers are still missing out on interest earnings by leaving their money in current accounts, which typically offer little to no return.
According to Nationwide, just 13% of savers earned no interest at all in 2025, with many choosing to keep their funds in current accounts instead of more rewarding savings options. The trend is a result of financial habits that fail to take advantage of higher interest rates available through savings accounts or ISAs, which often offer much better returns.
The findings come from a survey conducted by Nationwide, which polled over 2,000 UK adults. The data suggests that while many Brits are aware of the importance of saving, a substantial number are still not maximising their savings potential. Richard Stocker, Head of Savings at Nationwide, advised that savers should avoid the temptation to leave money in current accounts, highlighting the advantages of using a savings account or ISA, which can offer more lucrative returns.
Ambitious Savings Targets, Particularly Among Younger Adults
Younger adults are setting the bar high for savings goals in 2026. Nationwide’s research revealed that adults aged 25-34 have particularly ambitious plans, aiming to save nearly double the national average. While the average savings target for 2026 is £7,535, those in this age group are setting their sights on an average of £14,912.
However, this ambition does not come without challenges. Many in this age bracket are feeling financial stress, with 69% of 18-24-year-olds expressing anxiety about their ability to save. This is partly due to the pressures of navigating significant life milestones, such as buying a home, starting a family, or building a career. Despite these stressors, younger adults remain among the most committed to growing their savings.
Nationwide’s research also reveals a gender disparity in saving habits. Men, on average, aim to save more than women, with an average target of £9,360, compared to £5,826 for women. However, when it comes to saving behaviours, it seems that men and women alike could learn from family members: ‘Mum’ was cited as the second-best saver, with 16% of respondents naming her, just behind ‘my partner’ at 21%.
Top Reasons for Saving in 2026
The survey also highlighted the key motivations behind people’s savings plans for 2026. Emergency funds were the top priority for 43% of respondents, followed by holiday savings at 36%, retirement at 23%, home improvements at 20%, and securing a financial future for children, also at 20%.
Savers are clearly taking a more pragmatic approach to their finances, prioritising financial security in uncertain times. However, Nationwide’s report also draws attention to the growing role of social media trends in influencing saving strategies. Approximately 62% of adults aged 25-34 are considering viral savings challenges, such as the ‘100-envelope challenge,’ popularised on platforms like TikTok. This reflects a wider shift towards communal, social methods of financial goal-setting.
Moving Forward: The Importance of Early and Regular Saving
As 2026 approaches, Nationwide’s recommendations are clear: the earlier one starts saving, the better. Richard Stocker’s advice is simple: build a savings habit by starting early and saving regularly. Additionally, tools like budget calculators can help individuals track their spending and ensure that savings targets are met. Incentives, such as Nationwide’s £175 current account switching offer, can also serve as a useful boost to kick-start good financial habits.
Ultimately, as the data from Nationwide illustrates, while savings goals for 2026 are ambitious, achieving them requires not only determination but also smart, strategic planning. By moving away from current accounts and utilising savings-specific accounts, UK savers could see more significant returns, making their financial goals a reality in the year ahead.
