Map shows average savings in different UK regions — how does yours compare?
While some may be able to put the same chunk of money away each month, others are limited to a more ad hoc basis.
But whatever stage you're at, don't worry: saving in any capacity you can is still saving. And that's the main thing.
With that in mind, you'd expect the average savings rate would vary a lot, even for people who live in the same city. But interestingly, that's not quite the case, as new research has proven.
Financial services company Raisin has revealed that certain parts of the UK (for want of a better word) are better at saving than others.
Spoiler: the region that came out on top might shock you, especially as its cost of living is notoriously high.
You probably didn't expect London to be number one when it comes to savings.
Metro recently reported that the average rent in the capital is around £2,235 per month, while last year, it was revealed that it's more expensive to live in London than in Monte Carlo. And let's not even get into the price of a pint these days.
However, the research showed that Londoners have an average savings amount of £28,978.40. The proportion of people with minimal savings are low, too. Only 1.48% have £0 savings, 6.67% have £100 or less, and 17.04% have £1,000 or less.
In second place is the West Midlands, with an average savings amount per person of £13,318.35 – still a solid number, but less than half the figure for London.
Trailing just behind is the North East, with its resident banking £10,022.58, on average. This region just pipped the South East – whose residents have £9,885.55 in savings – to the post.
Up next is Wales, with £9,648.91, and the North West makes up the top six, with £9,156.79 average savings.
The remaining five regions all scored between 23% and 35% in the £1,000 or less in savings category.
On the other end of the scale, it was revealed that the East Midlands have the lowest savings of any region in the UK. People living here have an average of £6,438.48. 8.75% of residents here have £0 in their rainy day fund, while 12.50% have £100 or less and 35% with £1,000 or less.
With just a little more in the bank is Northern Ireland, coming to an average savings amount of £6,710 – four times less than Londoners.
The figure for those in the South West jumps by around £400 to £7,140.18. In Scotland, the average rises to £7,297.19, while in East Anglia, people are managing to save quite a bit more, averaging at £8,032.85.
And at number six – meaning these residents sit directly in the middle of the savings scale – is Yorkshire and the Humber, with the average amount in the largest county in the UK coming to £8,406.60.
Metro spoke to Ayesha Ofori, former executive director and private wealth adviser, and founder of investing app Propelle. More Trending
She explains that's not about whether a region is collectively 'better' at saving, it's about how much a person saves or invests depends on how much disposable income they have.
'In London, salaries are higher,' Ayesha notes. 'And although living expenses are much higher, people are more likely to have something left over to invest.'
On the contrary, in areas with fewer corporate jobs and lower salaries, disposable income is lower.
Ayesha also highlights that how much a person saves is tied to how much exposure they get to saving and investing, commenting: 'It's to do with their knowledge level and trust in the systems available to save cash.
If saving a little bit more of your paycheck is your goal, but you're unsure of the best way to start, then the 50/30/20 rule is for you.
It's a tried, tested and proven technique that allows you to start regularly saving each month. It also helps keep spending on non-essentials within an allocated budget each month.
Essentially, the rule involves dividing your spending into three categories: needs, wants and savings.
Then, with each paycheck, allocate 50% to needs, 30% for wants and 20% for savings or debt repayments. Read more about the rule and how to successfully implement it here.
View More »
MORE: We tried London's hottest new pizza spot that doesn't 'scrimp on the toppings'
MORE: Here's where two new reservoirs could be built in the UK
MORE: Tube 'fare dodger' caught swerving £3,500 in fares using a dodgy card
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Metro
10 hours ago
- Metro
I don't want to buy a home — and it's nothing to do with money
When 24-year-old Piper Phillips moved to New York City, she knew one thing would be true: she wouldn't be buying a home. At the moment, Piper doesn't have any desire to get on the property ladder in the Big Apple. She's largely accepted that, for the career opportunities it affords her, she's happy to foot the bill to live in a prime location. 'Homeownership is the American Dream, and it's been shoved down our throats for as long as we can remember,' Piper, a full-time content creator and digital entrepreneur, tells Metro, noting that her priorities are her 'career' and 'lifestyle.' At the moment, Piper and her boyfriend live in a one-bedroom flat in Manhattan. It costs them $5,000 (£3,727.42), with Piper contributing $2,000 (£1,490.97) towards the monthly payment. And while the couple are now looking for a two-bedroom apartment so that she can have her own home office, and have increased their budget to do so, they're not looking to buy. 'I'm paying for my life in New York City, and that's worth it because I enjoy it. The high rent in NYC is your membership you use to be able to live in the city that has the best opportunities for your career in the world,' she adds. You can access completely fee-free mortgage advice with London & Country (L&C) Mortgages, a partner of Metro. Customers benefit from: – Award winning service from the UK's leading mortgage broker – Expert advisors on hand 7 days a week – Access to 1000s of mortgage deals from across the market Unlike many mortgage brokers, L&C won't charge you a fee for their advice. Find out how much you could borrow online Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage. Piper also loves the 'freedom' of being able to try out new places, in a similar way that many young Londoners do, too. 'Living in New York is so fun, you get to explore new neighbourhoods and that really just marks different chapters of your life,' she reflects. 'I do love the fresh energy of coming into a new place. When my toilet breaks or something happens, I just call my repair person, and they come and fix it for me. It's incredible.' She feels that there's a hidden luxury to renting, as she wouldn't be able to afford to buy the type of home she's living in. In fact, she'd rather just rent and 'not deal with the hassle.' 'I don't think that homeownership is the same badge of approval or stamp of success as it was once was,' she says. 'It used to mean that you were stable, but rent is so expensive in these metropolitan cities, it is more glamorous and sometimes, it's equally as impressive to live where you want, even if you're renting.' This isn't just an NYC thing: many in the UK have similar sentiments. While her friends around her rush to get on the property ladder, 25-year-old Kathryn Loosley still isn't convinced. Kathryn loves her life in London, and though she's currently paying £1,100 for her room in Tooting, she's not sure if buying is entirely worth it. 'My boyfriend and I want the freedom to move around. We'll really need to think hard about whether it's worth it or not,' Kathryn tells Metro, noting that seeing her peers struggles to buy have put her off. Kathryn says that renting currently affords her a decent amount of disposable income, which gives her the freedom to enjoy her lifestyle 'without feeling the financial burden of homeownership,' something she feels is important for 20-somethings. 'We're tied into rent as you would be with a mortgage, but we don't have any overheads in repairs. We know what's going out each month and can allocate the rest to enjoying London, whether that's eating out, fitness classes, or escaping for a European weekend break,' she adds. 'I'm so happy we're not being tied into a house at this age.' According to a survey conducted by SpareRoom in March 2025, while 62% of under-30s expect that they will buy a property at some point in their lives, 11% don't think they will. And, amid the uncertainty – and inaccessibility – of the housing market, 28% are unsure either way. For much of the younger generations, plain 'hard work' isn't enough anymore. While grandparents recall stories of saving up for a house relatively quickly, prospective homeowners these days are often having to rely on the Bank of Mum and Dad, a privilege that those from working-class families often cannot access. Breaking from the debate entirely, though, is a group of people who, like Kathryn, don't want to buy a home at all and refuse to buy into the idea that homeownership is the ultimate housing goal. Of those who feel they won't ever get on the property ladder, SpareRoom's findings showed that 11% actively said that they prefer renting, while 15% need the flexibility to move at short notice, So, why is the UK so obsessed with the holy grail of homeownership in the first place? In 2021, one YouGov study suggested that owning isn't universally valued globally. While 62% of Britons said that it was a goal they'd already accomplished, it was hardly a number one priority in places like Germany, where housing policy has often encouraged people to rent. Here, two in five (42%) had no intention of buying at all. Dr Marc Schelhase, a lecturer in the Defence Studies Department at King's College London, explains that the British fixation on home ownership is actually a relatively recent development. After the Second World War, government housing policy focused on universal access to quality housing where communities could thrive – seen in the vision of the prefab homes, many of which were given as social housing to returning soldiers. Then came Right to Buy under Margaret Thatcher in the 1980s, which saw tenants in social housing encouraged to buy their own homes. And of course, the many challenges of the UK rental system have some people desperate avoid landlords. The Renters' Rights Bill is designed to make things better for tenants, but it's been in the works for years and won't become law until 2026. Focusing on ownership isn't always a helpful mindset though, as it can distract from the government's responsibility to build and maintain social housing – and potentially underplay the idea that some renters might just not be interested in buying. We just need a fair rental market that works. As Marc von Grundherr, director of Benham and Reeves, tells Metro, it's an increasing trend we're seeing in renters – and it's not just Gen Z, but a number of demographics. More Trending 'Flexibility has become a significant priority, with many choosing to rent as it offers the freedom to relocate for career opportunities or personal reasons without the commitment and potential restrictions that come with owning a property,' Marc shares. And while getting on the property ladder is generally interpreted as a positive financial commitment, Marc feels that not everyone sees it that way. 'With the cost of living, inflation, and the unpredictability of the housing market, some see renting as a way to maintain financial fluidity and avoid long-term debt,' he concludes. 'This trend isn't restricted to younger generations either; we're seeing it across a range of age groups, from professionals who value mobility, to those nearing retirement, who want to avoid the financial burdens that often accompany homeownership.' Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ View More » MORE: Londoners are flocking to my beloved hometown — but there's one problem MORE: What I Own: We paid £125,000 for our London houseboat — we charge our lodger £1,200 a month MORE: MPs being landlords would be comical if it wasn't so offensive
Metro
a day ago
- Metro
5 outstanding 'before and after' interiors that will inspire your home's glow-up
Some spaces simply need a lick of fresh paint, others need a complete re-vamp. But these five remarkable transformations prove that with the right touch, even the most tired interiors can be entirely revitalised. If you're thinking of renovating, you'll find all the inspiration you need in the 'Best Before and After' category of the Home Awards, in partnership with Metro. This year's finalists – sponsored by Rightmove – have transformed once-forgotten spaces into sanctuaries of style, revived with character and an inspired creative eye. See how these spaces were transformed and don't forget to check back in for the winners announcement in October! The lounge in Daniel Bland's Victorian home was feeling lack-lustre before he was able to reinvent the space into an image of antique elegance. You can access completely fee-free mortgage advice with London & Country (L&C) Mortgages, a partner of Metro. Customers benefit from: – Award winning service from the UK's leading mortgage broker – Expert advisors on hand 7 days a week – Access to 1000s of mortgage deals from across the market Unlike many mortgage brokers, L&C won't charge you a fee for their advice. Find out how much you could borrow online Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage. Intent on highlighting the original architectural features, Daniel chose dark paints and paneling that preserved the room's period authenticity while adding a modern, refined touch. Every piece of furniture and décor was selected and placed with masterful precision. Entering this transformation with a clear artistic vision and determination to unlock the space's full potential, Daniel has actualised timeless character and sophisticated charm into his living space. Determined to give the 'awkward extension' of her home a real meaning, Kirstie stripped the space back to its bare brick before transforming it into a thoughtfully designed playroom for her two children. She took on the panelling and painting herself, then carefully styled the room to ensure it could evolve as her children grow, knowing its role will naturally shift over time. Bursting with colour and charm, the space features a cosy gold velvet tee-pee set atop a lively, harlequin-patterned rug. Now full of life, this transitional space in the Waterston home has found an identity, balancing vibrant energy with a refined sense of purpose. This transformation doesn't just upgrade the aesthetic of Leekim Stewart's bedroom window, it significantly enhances the room's functionality, comfort, and sense of personality. What was once a plain and underutilised wall has been reimagined into a warm, characterful focal point that perfectly balances form and function. Keeping the natural light as the star of the show, the installation of the seating and shelving units creates the ultimate pink reading nook. With the intention of seamlessly blending practicality with personality, Leekim has delivered a transformation that feels both curated and effortless. Nicki and her husband put all the elbow grease they had into transforming this once-tired horse lorry into a stylish, upscale glamping retreat. What was previously a purely practical vehicle has been thoughtfully redesigned into a cosy and contemporary getaway on wheels, without sacrificing comfort or charm. More Trending Now fully equipped to sleep four, the space includes a cleverly designed kitchen with all the essentials, as well as a fully functioning shower. The Castle family have truly transformed this trailer into the ultimate family weekend escape. Having lived through the restoration of her 19th century manor house, Sarah Ellis approached revamping her interiors with a deep respect for the building's history. Each space is designed to celebrate the original architectural features whilst embracing the comfort of modern living. Period details, ornate ceiling mouldings and the original wall panelling are elegantly offset by modern additions, honouring the past without compromising on contemporary function or style. View More » From colour palette to materials to lighting, Sarah seamlessly integrates old and new in her renovation, creating the perfect blend of antique grandeur and modern sophistication. Metro has teamed up with and Blinds 2go – proud sponsor of the Best Bedroom category in the Home Awards – to give one lucky winner the chance to win £1,000 to spend on Blinds 2go's stunning collection of made-to-measure blinds and curtains and give your windows the ultimate glow up. Enter your details below and turn your windows into the best-dressed feature in your home. You have until midnight on 19 August to enter. Good luck! Form not loading? Enter here. * Open to GB residents (excluding Northern Ireland) aged 18+. Entrants must be 18 years or over at the time of entry. Promotion opens at 17:01 on 29/7/25 and closes at 23:59 on 19/8/25. Entrant must submit their first and last name, email address, telephone number, date of birth and postcode when prompted via the entry form available on (available here). 1 prize available of £1,000 to spend on Blinds 2go's or Curtains 2go's collection of made-to-measure blinds and/or curtains. The Prize is subject to the Promoter's standard terms and conditions available here. Maximum 1 entry per person. Full T&Cs apply, see here. Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: Powder rooms with personality – 7 bathroom renovations to inspire your next DIY MORE: Phil Spencer shares 5 tips to help your home fly off the market
Metro
a day ago
- Metro
UK heatwaves are on the rise, so is it worth installing air conditioning?
No, we're not a bunch of wimps: hot weather hits different in the UK. The UK air tends to be more humid compared to that in continental Europe – and it doesn't help that our houses are built to retain heat. All that insulation means we're toasty in winter, but homeowners and tenants are melting as temerpertaures push over 30°C for the country's fourth heatwave of the summer. We know this sort of weather is becoming the norm, so if you've been popping down to Tesco to chill in the frozen aisle, you might be thinking about investing in air conditioning. But, is it worth it? John Small, eco performance specialist at Ty Eco, tells Metro: 'It's a luxury; great for cooler sleep, better air quality, and many systems can even double as heating in winter. But with the upfront spend, daily running costs and the environmental impact, it's not a decision to take lightly.' Still, if you're considering making the investment, it's worth knowing the facts, 'Getting air conditioning in your home isn't cheap, installing a fixed unit typically costs between £1,000 and £2,000 per room and full ducted or multi-room systems can run from £6,000 or £9,000 or more,' John explains. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video And then, there's the cost to consider when you're using it regularly. 'You're looking at running costs of around 20-30p an hour for portable units and roughly 22p an hour for in-built systems, which works out as £1-2 a day per room.' With record-breaking temperatures across the UK, it's understandable that many people will be considering splashing out, but AC isn't always the most environmentally friendly option. John adds: 'From a sustainability perspective, I'd always suggest looking at passive solutions first, like shading, insulation and proper ventilation. 'Good design can go a long way in keeping your home comfortable without jumping straight to high-energy cooling systems. 'Air conditioning can be useful, especially in homes that trap heat, but it should be seen as the last resort, not the first fix.' According to John, the standard fan has a lot to offer, and it's far more energy-efficient than air conditioning. 'A a decent fan is still the more practical and economical choice,' says John. 'A standard fan might cost 1-2p an hour to run. Fans don't cool the air, they move it, but they can still make a big difference to how cool you feel. 'If you combine fans with smart ventilation, opening windows at the right times, and keeping blinds down during the day, you can often manage heat quite effectively without resorting to AC.' Generally speaking, you should open your windows if it's cooler outside than in, but close them if sticking your arm outside feels like a firey hell. There are many types of AC systems, including split systems, multi-split systems, ducted systems, portable units, and window units. Some newer models also feature smart controls and heat pumps for added efficiency. More Trending For UK homes, John suggests looking into air-to-air heat pumps, which can provide efficient cooling in summer and double up as heating in winter. He says: 'They're a lot more energy efficient than traditional systems. Some models even qualify for government incentives under renewable energy schemes. 'But the most sustainable option is still to design your home so that you rarely need active cooling at all.' Metro's Courtney Pochin describes a hot summer's day in London as 'vile'. She explains: 'According to the Mayor of London's website, the capital is 'vulnerable' to extreme heat and 'overheating is a challenge'. 'There are plenty of dark roads, concrete and buildings that absorb and retain the heat, making it so much hotter than the surrounding areas. 'As such, the 10-minute walk down the road to my nearest Tube station, which is usually a peaceful stroll, leaves me feeling like I've just trekked across the Sahara. I'm sweaty and sticky by the time I get on the train and spend the rest of the day feeling gross.' She adds that many Londoners are stuck in flats, without a balcony, garden or roof terrace, 'leaving us feel like we're trapped in a sauna'. Courtney adds: 'Trying to sleep at night in these conditions is almost impossible, and we'll find ourselves desperately testing every hack to cool off we can find. At this point, I've tried just about everything – from cool showers before bed to putting bedding in the freezer and putting a bowl of ice water in front of a fan for DIY air con.' Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ View More » MORE: All the UK hosepipe bans currently being enforced as heatwave looms MORE: How to stay cool and stylish at the office during the upcoming heat wave MORE: Regatta's summer sale is up to 80% off – and it's perfect for festival season Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
