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Nearly two-thirds (62 percent) of 25 to 34-year-olds say they would consider social media saving trends like revenge. savings“No spend” period and envelope challenges.
Revenge saving involves people increasing the amount of money they have to achieve greater financial security, sometimes in response to spending more than before.
Savings challenges may also involve people putting cash in envelopes to build an emergency fund for several days, while no-spending challenges often involve people avoiding any non-essential spending for a shorter period of time, such as one day a week.
New research, published by Nationwide Building SocietyIt also found that across all age groups, men are expecting to save £9,360 in the next year, while women are expecting to put aside £5,826.
The average amount people expect to save in 2026
Nationwide Building Society
- Men, £9,360
- Women, £5,826
Young adults aged 25 to 34 were the most ambitious in their savings goals, expecting to save an average of £14,912.
When people were asked who was the best at saving, people most likely said their partner, followed by “mom.”
Emergency funds, vacations and retirement were among the top reasons for people looking to save next year.
Richard Stocker, head of savings at Nationwide, suggested people start early and save regularly to build a savings habit.
Online budget calculators and bank account switching offers can also help, he said.
The Society also suggested that people do their own research and investigation to ensure that sources of information are reliable.
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Censuswide conducted the survey among more than 2,000 people across the UK in December.