Two thirds of people saving for unexpected expenses, holidays, special occasions or something else in the past 6 months

Online research carried out by Ipsos on behalf of the Money and Pensions Service (MaPS) showed two thirds (65%) said they’d been putting money into savings in the past six months. Respondents were asked whether they had been putting money aside into savings for any of four different reasons. Over a third (36%) said unexpected expenses and three in ten (30%) said holidays and day trips. One in five (19%) said special occasions, while 16% said “something else”. The research also shows that 18-24-year-olds were more likely to say they had been putting money aside than any other age group, with four in five (80%) saying they’ve done so in the past six months.

Technical Note

On behalf of Money and Pensions Service, Ipsos interviewed a representative quota sample of 2,313 adults aged 18-75 in the UK using its online i:omnibus between 13th – 18th April 2023. 2,236 respondents consented to answer questions about financial products and services. Data has been weighted to the known offline population proportions of this audience for age, working status and social grade within gender and government office region.