Personal finance coach Shads' analysis of a Finder study on how much Brits have in their savings accounts revealed that those belonging to the 18 to 24 age group have an average of £3,636 in savings, with almost 60% of them having saved less than £1,000. Only 3.8% in this age group have savings of over £10,000. In this age group, Forbes estimated that the average UK annual salary for those working 30 hours a week or more ranges from £24,440 to £32,292.
The average savings amount goes slightly higher to £3,748 for people aged between 25 and 34 years. Even in this age group, a staggering 59.2% have less than £1,000, and only 8.6% have more than £10,000. For people aged up to 29 years, the average annual wage is £32,292, and goes up to £39,988 for those at the higher end of the scale.
