Saving is a cornerstone of financial resilience, yet many UK households struggle to build even modest buffers.

The purpose of this research is to build a deeper understanding of saving attitudes and behaviours across the UK, with a particular focus on why people save, what needs savings fulfil, and what prevents people from saving or saving more. Commissioned by the Building Societies Association, supported by Nationwide Building and Yorkshire Building Society, and based on a nationally representative survey of 4,000 adults, the research brings together three frameworks: a taxonomy of saving reasons, Maslow’s Hierarchy of Needs, and the COM-B model of behavioural barriers.

In doing so, it provides a richer picture of how saving is shaped not only by income and resources, but also by life stage, motivation, access, confidence and wider social context.

 

The findings show that saving is primarily about financial resilience. The most common reason for saving is to cover unexpected costs, while safety is by far the most common need that savings fulfil.

 

At the same time, the research highlights significant barriers, with lack of money left after essentials the dominant constraint. Younger adults, students, young families and some ethnic minority groups face a wider range of barriers linked to capability, opportunity and motivation.

 

Overall, the evidence points to the need for targeted, low-friction and confidence-building interventions that help people build modest buffers, overcome practical and behavioural barriers, and progress from reactive saving towards more planned and aspirational forms of saving.

 

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