Skip to content
Money and Pensions Service Website
Cymraeg
  • About us
    • Who we are
    • Board
      • Advisory Group to the Board
    • Executive Leadership Team
    • MoneyHelper
      • Share our cost of living campaign
    • Welsh Language Scheme
    • Careers
  • Our work
    • UK Strategy for Financial Wellbeing
      • What is financial wellbeing?
    • Talk Money Week
      • Talk Money Week for schools
    • Debt
      • Breathing Space
      • Money Adviser Network
      • Quality Assurance Framework
    • Pensions
    • Money Guiders
    • Talk Learn Do
  • Work with us
    • Build financial wellbeing in your location
      • Scotland
      • Northern Ireland
      • Wales
      • North West England
      • North East England
      • Yorkshire and the Humber
      • West Midlands
      • East Midlands
      • East of England
      • London
      • South West England
      • South East England
    • Employers
    • Financial services
    • Health and social care
    • Housing
    • Local authorities
    • Schools
    • Procurement
  • Media centre
    • Press office
    • Press releases
    • Financial wellbeing blog
  • Publications
    • Business plan and Corporate Strategy
    • Consultations and responses
    • Research
    • MoneyHelper pension take up dashboard
  • Cymraeg

Cookies on maps.org.uk


Cookies are files saved on your phone, tablet or computer when you visit a website. We use cookies to store information about how you use MaPS, such as the pages you visit. For more information visit our Cookie Policy and Privacy Policy.

Some cookies are essential for the site to function correctly, such as those remembering your progress through our tools, or using our webchat service.

These cookies allow us to collect anonymised data about how our website is being used, helping us to make improvements to the services we provide to you.


Reject additional cookies Save preferences Accept all cookies

One in six UK adults have no savings

Published on:

07 November 2022

Nine million people across the UK have no savings and another five million have less than £100, according to new research from the Money and Pensions Service (MaPS). 

  • Overall, a quarter of UK adults have less than £100 put away. 
  • Almost half of people who use credit are anxious about how much they owe. 
  • A third are anxious about the number of credit products they have. 
  • Free help is available, but four in five people still struggle to talk about money.

Nine million people across the UK have no savings and another five million have less than £100, according to new research from the Money and Pensions Service (MaPS). 

The survey of 3,000 adults, carried out for Talk Money Week (November 7-11), shows that one in six (17%) have nothing put away and another one in ten (9%) have £100 or less. 

This leaves around a quarter of adults living without a financial safety net to cope with the rising cost of living or unexpected bills, meaning some may have to use credit. 

MaPS says although credit is an important tool when used and managed well, it’s crucial that people understand what they can afford and have a plan to pay it off. 

However, the figures also reveal that many people are already finding this difficult. Among the 79% of UK residents who use credit, two in five (43%) are now anxious about how much they owe. Over a third (35%) are worried about the number of different products they have. 

As cost of living pressures start to hit home, MaPS says it’s more important than ever to talk about money before problems set in. However, the survey also reveals that 81% of people still avoid discussing their finances. 

Asked why, the most common responses were ‘not wanting to be judged’ (21%), ‘fear of burdening others’ (19%) and ‘shame or embarrassment’ (17%). 

During Talk Money Week, MaPS is encouraging everyone to open up about money, plan for their financial future and take free debt advice as soon as they need it. 

The organisation says its MoneyHelper service can be people’s first port of call, offering free guidance on topics like everyday money, savings and where to find free debt advice. 

It also provides a range of information on dealing with money issues, including step-by-step guides on how to talk to your creditorsOpens in a new window or discuss money with family and friendsOpens in a new window

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service, said:

"Millions of people find it a challenge to save and this leaves them vulnerable when sudden expenditure items arise. When you add in the anxiety that they feel with their credit commitments, the weight of that worry can quickly become overwhelming.  

"This Talk Money Week, we want everyone to start the conversation with family or friends and share the burden of any money worries. By dealing with the problem head on, people can discover just how helpful free debt advice can be and see the importance of talking to their creditors early. They can also begin to find a way forward, no matter how difficult their situation might feel. 

"Free help and guidance on how to do all of this is available via our MoneyHelper service and I’d urge everyone who needs it to get in touch today."

– ENDS –

Back to top

Notes to editors

  • This survey was conducted among 3,000 people in the UK aged 18+ in September 2022. It is nationally representative. 
  • Asked how much money they had in savings, 17% said they had no savings, 5% said less than £50 and 4% said £50-100. 
  • Asked for the reasons they avoided talking about money, 19% said they never avoided talking about it. 
  • According to the ONS, there are approximately 52.9 million people aged 18 or over in the UK. 

Media enquiries

For media enquiries please contact: MaPS Press Office 020 8132 5284Opens in a new window | [email protected]Opens in a new window

About the Money and Pensions Service 

Our vision is “Everyone making the most of their money and pensions.” 

We offer free, impartial help and guidance on money and pensions via www.moneyhelper.org.ukOpens in a new window and 0800 138 7777. For services in Welsh, please visit www.helpwrarian.org.ukOpens in a new window or call 0800 138 0555. The service includes a range of free tools, plus the opportunity to speak to an expert via WhatsApp, phone, email or live chat.

We also co-ordinate the UK Strategy for Financial Wellbeing, working with partners and stakeholders to help everyone find their way forward and build a better financial future.

We are an arms-length body, sponsored by the Department for Work and Pensions and funded by levies on both the financial services industry and pension schemes.

For more information, see Who we are or read our annual corporate plan and strategy.

Back to top
Talk Money Week Debt advice Savings All press releases

Media enquiries

For media enquiries please contact MaPS Press Office:

020 8132 5284Opens in a new window

[email protected]Opens in a new window

LEGAL

  • Terms and conditions
  • Privacy notice
  • Cookie policy
  • Money and Pensions Service standards
  • Public information
  • Subject access requests
  • Accessibility statement
  • Cookie preference

OUR BRANDS

  • MoneyHelper Opens in a new window
  • Financial Capability Strategy for the UK Opens in a new window

STAY IN TOUCH

  • Contact us
  • Sign up to newsletter Opens in a new window
  • Twitter Opens in a new window
  • LinkedIn Opens in a new window
  • YouTube Opens in a new window

Copyright 2025 Money & Pensions Service, Bedford Borough Hall, 138 Cauldwell Street, Bedford, MK42 9AB.

All rights reserved.