Why might these findings suggest that saving remains so worthwhile?
Despite living in an era of historically low interest rates, savings still come with many benefits. Easy-access savings accounts can give us instant access to our money and can offer a more reliable rate of return compared to investing accounts.
The continued popularity of saving may come down to the fact that you can add to your nest egg with one-off or regular payments. And, if it's an instant access account, you can get hold of your money (and its interest) whenever you need it. Plus, it's safe – under the Financial Services Compensation Scheme, if the UK bank or building society you save with goes out of business, you'll get back up to £85,000 of your savings.
Though stashing money in a savings account may not be a fast-track to building your wealth, it can still provide a sense of security and accessibility that many UK adults find worthwhile.
Savings remains on top, but many of us think it’s worth investing our money as well. Our survey indicated that the top two reasons for investing are that it can be a way to reach money goals faster, or a financial advisor recommended it.
When it comes to where we are investing our money, it appears as though pensions (61%) and stocks and shares ISAs (32%) are the most popular options, especially for the older population.