If you are looking for savings advice in Cheshire or Oswestry, you may be wondering where you stand financially in relation to the rest of the UK.
In December, the Bank of England’s most recent Money and Credit report found total savings and sterling cash deposits to be in excess of £1.9 trillion. The UK as a whole still values the importance of cash savings, with over 71% of the population, approximately 37 million people, holding at least one savings account.
Further research found the most popular products are bank and building society accounts, with cash ISAs and premium bonds tailing behind. In 2026, adults in the UK overall have an average £19,214 in savings, although this figure rises to £33,420 for over 55s and drops to just under £10,000 for those aged under 55. For easy-access Direct ISAs, the overall figure stands at £14,127, whilst average premium bond savings are £5,596.
There is no agreed numerical figure for what an individual should save each month, but many financial analysts advise always aiming to have enough to cover emergency situations. Some experts have advised setting aside at least three or even six months of net income in an easy-access account as a safety net in the event of a sudden job loss.
Note that tax payable on savings interest is going up from April 6, 2027 across all tax bands Thereafter, savers should expect a 22% basic rate, a 42% higher rate, and a 47% additional rate.
