55% of UK Adults Revise Savings Plans as Inflation Drains Household Buffers

1 articles · Updated · MoneyAge · Jun 25

Chetwood Bank’s survey of 1,000 adults found 55% of UK adults have changed savings or wider financial plans because of rising living costs and inflation, with the share reaching 71% in Wales and 64% in London.
57% of respondents said they put money into savings only to withdraw it for everyday expenses, while 56% of working-age adults said they intend to save but often fail to follow through.
39% said they would struggle to cover an unexpected £300 bill, reinforcing the bank’s view that savings are increasingly being used as a short-term cash-management tool rather than a long-term buffer.
67% are worried inflation will erode the value of their savings, and 53% said financial decisions feel more complicated now than they did 10 years ago.