Britons Find Joy in Saving Money, Led by Gen Z
A new study reveals the joy and satisfaction Britons find in saving money, with even small amounts bringing thrills and a sense of accomplishment. Gen Z leads the way in adopting this habit, prioritising long-term goals over impulsive spending.
The research shows that 66% of savers find putting money aside thrilling, with as little as £30 triggering this feeling. Moreover, 33% of adults experience this excitement even when saving £1-£30. This positive association with saving is further bolstered by the fact that 88% of adults have met a savings goal, reporting feelings of satisfaction, control, and happiness.
Gen Z, in particular, is embracing the habit of saving more than any other age group, with 64% adopting this practice. They find saving for big-ticket items more satisfying than making impulsive smaller purchases, with 87% agreeing with this sentiment. Regular saving also instils a sense of responsibility, with 47% of regular savers feeling more responsible by adding to their total regularly.
The study also highlights the long-term perspective of many savers. Sixty-four percent plan to use their savings for their future, while 57% are putting it aside for emergencies. Private and institutional investors, in particular, regularly save money, aiming to preserve or grow wealth for long-term goals like retirement or financial security. They often prefer investment vehicles such as stocks, ETFs, and broad portfolios to achieve returns above inflation and ensure capital growth over time.
The findings underscore the positive impact of saving on individuals' financial well-being and overall satisfaction. With Gen Z leading the way, the future of saving in the UK appears promising, with more people embracing this practice and reaping its benefits.
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