Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Read more
Nearly two-thirds (62 per cent) of 25 to 34-year-olds say they would consider social media savings trends such as revenge saving, “no-spend” periods and envelope challenges.
Revenge saving involves people ramping up the amounts of money they are putting away to have more financial security, sometimes in response to previously overspending.
Savings challenges may also involve people putting cash into envelopes to build an emergency fund over a number of days, while no-spend challenges often involve people abstaining from any non-essential spending for a short period, such as a day of the week.
New research, published by Nationwide Building Society, also found that across all age groups, men are hoping to save £9,360 next year, while women hope to put £5,826 aside.
Average amounts people hope to save in 2026Nationwide Building SocietyMen, £9,360 Women, £5,826
Younger adults aged 25 to 34 were the most ambitious in their saving goals, hoping to save an average of £14,912.
When people were asked who the best at saving, people were most likely to say their partner, followed by “mum”.
Emergency funds, holidays and retirement were among the top reasons for people wanting to save next year.
Richard Stocker, head of savings at Nationwide, suggested people start early and save regularly to build a savings habit.
Online budget calculators and bank account switching offers can also help, he added.
The Society also suggested that people do their research and check to make sure that sources of information are trusted.
Get a free fractional share worth up to £100.
Capital at risk.
Terms and conditions apply.
ADVERTISEMENT
Get a free fractional share worth up to £100.
Capital at risk.
Terms and conditions apply.
ADVERTISEMENT
Censuswide carried out the survey among more than 2,000 people across the UK in December.