Saving in itself is an important skill that many people struggle with. In fact statistics on Moneyfarm has it that in the UK, 40% of people aged 22-29years don’t have any savings. 10% have less than £3,000 saved and, only 25% have more than £6,000 saved.
The average saving for those
- aged 18-24 is £2481
- aged 25-34 is £3,544
- aged 35-44 is £5,995
- aged 45-54 is £11,013.
- Aged 55+ is £20,028.
So, if you are saving you are already taking a step in the right direction.
Why then are you reading this post?
Because you have identified that while it is important to not save too little. It is equally important not to save ‘too much’.