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What are the median savings for 21 to 25 year olds?

29 replies

endingupinmanchester · 25/06/2023 14:52

I read somewhere that they are £5k
But my friends all have 10s and thousands saved...
So are my friends the outliers?

OP posts:
groupery · 25/06/2023 16:07

If someone is working & lives with parents and pays little or no rent I don't understand why they wouldn't have savings.

KittenCatt · 26/06/2023 18:21

I’m 27 and I currently have over £4,000 (for my Emergency Fund and holidays etc.)

I just paid £17,800+ for my deposit on my first home though!

Endofroadinhs · 26/06/2023 18:39

My Son (under 20) has around 50k from a business venture he started age 14. Spends virtually nothing and very good at maths/ money management. Earning more than me (part time professional).
All done properly registered with hmrc etc.
I personally have no savings as I am terrible with money however my H has about 5 years of combined salaries which either of us can access if required. We jointly own property and both have pensions.

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SunshinyDay1 · 26/06/2023 18:43

@alloutofcareunits

Saving should be a habit and one best ingrained when young

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