Nearly a third (31%) of UK adults say they are saving more than usual in Q1 2026, according to the inaugural SaveUp Quarterly Savings Index from Kent Reliance, with younger generations driving this uplift.

Gen Z (44%) and Millennials (38%) are significantly more likely to be increasing their savings compared to older generations, highlighting a clear generational divide in both ability and intent to save.

Generation

% Net Agreement – I’m Saving More Than I Usually Do

Gen Z

18.5%

Millenials

1.3%

Gen X

-20.8%

Baby Boomers

-25.7%

Silent Generation

-0.1%

Generational drill-down: different realities

Gen Z are emerging as “super savers,” driven by clear goals and life milestones. Nearly one in five (19%) save over £1,000 per month, while 5% save more than £5,000, and over one in five (22%) already have more than £10,000 in savings.

Millennials, however, show the widest internal divide. While a third (33%) are saving more than £500 per month, over a quarter (26%) are unable to save anything, and 24% have no savings at all, highlighting a polarised financial picture within the generation.

Gen X continues to feel the greatest financial strain. Nearly half (45%) cite a lack of disposable income as a barrier to saving – the highest among generations – alongside competing financial priorities (34%) and unexpected costs (18%).

Baby Boomers are increasingly focused on retirement planning, with 18% saving for retirement and 19% saving for use during retirement. Despite this, many are still saving relatively modest amounts, with 19% putting away between £1 and £100 per month.

The Silent Generation is the most financially secure overall, with 41% holding more than £50,000 in savings, and primarily saving for travel (22%) and later-life needs (16%).

Motivations: experiences vs necessity

Across all generations, the primary motivation for saving is holidays and travel (12%), but this varies significantly by age group. Older generations are more likely to prioritise lifestyle and leisure, with travel cited by 22% of the Silent Generation and 15% of Baby Boomers.

Younger savers, by contrast, are more focused on milestone-driven goals, including first home deposits (9%), education (9%), and experiences (11%). This shift reflects a move from necessity-driven saving in midlife to goal-oriented and lifestyle-driven saving at either end of the age spectrum.

Louise Halliwell, Group Savings Director at Kent Reliance, said:

“Our inaugural SaveUp Quarterly Savings Index highlights a clear divide in how different generations are approaching saving in today’s environment. Younger savers are building strong financial habits early, often with clear goals in mind, while those in midlife are more likely to be balancing competing financial pressures.

It’s particularly striking to see Gen Z leading the way, not just in intent, but in action, with many already building meaningful savings pots.

At the same time, the data reinforces just how challenging saving can be for those in the ‘squeezed middle’, particularly Gen X, who are often juggling multiple financial responsibilities.

While the cost of living continues to put pressure on household finances, building savings doesn’t have to be all or nothing. Even small, consistent contributions can make a meaningful difference over time, whether that’s through regular saving, making the most of tax-efficient products like ISAs, or planning ahead for key life moments.”