Key Takeaways:
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1 in 10 UK adults have no cash savings, leaving them vulnerable to financial shocks.
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1 in 4 Brits have “low financial resilience”, per the FCA.
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Saving small amounts regularly can help build long-term financial security.
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Easy access savings accounts offer flexibility while earning competitive interest.
Why Savings Matter in the Cost-of-Living Crisis
A recent Financial Conduct Authority (FCA) survey revealed that 10% of UK adults have no cash savings, leaving them exposed to unexpected expenses. Additionally, 25% of Brits have “low financial resilience”, meaning they struggle to cope with financial setbacks.
While progress has been made—such as fewer unbanked adults (down from 1.1 million in 2022 to 0.9 million in 2024)—many still struggle to save consistently. Rising costs for groceries, energy, and fuel (as highlighted in the NatWest Savings Index 2025) make saving harder, but even small amounts can make a difference.
How to Start Saving—Even on a Tight Budget
Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, says:
*”Saving small amounts regularly is key to building a safety net. Aim for 3-6 months’ essential outgoings in an emergency fund.”*
Tips to Kickstart Your Savings:
✅ Start small – Some accounts allow deposits as low as £1.
✅ Automate savings – Use round-up tools (e.g., spare change from debit card spending).
✅ Choose high-interest accounts – Avoid keeping savings in 0% interest current accounts.
Beat Inflation with the Right Savings Account
The Bank of England warns inflation could hit 3.7% by September 2025, eroding cash left in low-interest accounts. Shockingly, £300 billion sits in UK accounts earning no interest.
Best Easy Access Savings Accounts (2025)
| Account | Interest Rate (AER) | Withdrawal Limits |
|---|---|---|
| Chip Easy Access Saver | 4.25% (drops to 2.67% after 3 withdrawals/year) | 3 penalty-free |
| West Brom Four Access Saver | 4.10% (drops to 2.15% after 5 withdrawals/year) | 4 penalty-free |
| Atom Bank Instant Saver | 4.00% (drops to 2.50% if withdrawn in month) | No limit, but rate cut |
⚠ Watch out for bonuses – Some rates include short-term boosts that later drop.
Final Thoughts: Take Control of Your Savings
Even small, regular deposits can grow into a financial safety net. By choosing a high-interest, flexible savings account, you can protect your money from inflation and build long-term security.
💡 Ready to start? Compare the best savings accounts today!
