Those in their 30s are the savviest savers, setting aside 58% of their disposable income per month, 16% more than the national average of 42%, according to research published by Charter Savings Bank.

The bank found that the average monthly disposable income for a 30-something is £486, and the amount saved per month is £280. Those in their 30s have a higher disposable income on average than the UK as a whole which comes in at £452.

However, their disciplined approach to saving means that, on average, the save nearly 50% more than the national average of £191 per month.

Furthermore, Charter Savings Bank found large discrepancies in the disposable income of men, at nearly £600, compared with women at just over £300, resulting in women saving £134 per month and men £252.

The research revealed that 5.7 million adults have never opened a savings account, accounting for 11% of the adult population, with the number of non-savers increasing to 20% among those in their 20s.

The average size of a savings pot in the UK is £23,629. Those in their 70s have the highest amount saved, at £44,542, while those in their 20s possess £5,440.

However, there is a large gender savings gap, with men having saved around £12,000 more than women at £29,549, compared to £17,611.

Commenting, Charter Savings Bank director of savings Paul Whitlock said: “It’s interesting to see that, no matter what age we are, a potential emergency is our primary motivator for setting money aside. Beyond that, everyone will have different priorities for how much they can afford to save and what they are saving for, depending on what stage of life they’re at.

“The important thing is to try and save as much as you can afford to, from as early an age as possible, and seek out the best rates possible. It may not seem worth putting a small sum away each month, but it’s a brilliant habit to get into, plus that money soon grows.”

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