UK young savers delay life events due to financial anxiety

Research from LHV Bank, conducted via a survey of over 2,000 UK savers by Censuswide, reveals that young people are significantly more likely to delay major life events due to financial anxiety than older generations.

Approximately 67% of savers aged 18-24 reported postponing significant life milestones despite having the necessary funds to proceed. This figure is notably higher than the 60% reported by 25-34-year-olds and 61% of 35-44-year-olds. In contrast, only 31% of savers over the age of 55 delayed life events for similar reasons.

The study suggests that this trend is driven by psychological unease rather than a direct lack of capital. While the costs of weddings, home deposits, and raising children have risen significantly, the research indicates that younger generations may be bracing for future economic shocks due to previous experiences with the financial crisis and the pandemic.