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Are you financially prepared for the next stage of your life?

Answer eight simple questions to see how you compare with the rest of the UK

No matter where you are in your life, we could probably all do more to get ready for the next stage. We've asked the nation to see how much they know about their finances, and how prepared they are for the future. Are you ready to find out how you compare?

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Let's start with a bit about you...

Are you...

Tell us your age

Money Pot

How much do you have in savings?

Money Pot

You're a sensible saver

On average, people in your age group had £2,500.50 in savings.

How you compare to the UK

  • £4500

    Male

  • £3500

    Female

The median amount men have saved is 29% more than women. The median savings for men across all age groups was £4,500 versus the £3,500 saved by women.

House

What are you saving for the most?

House

You're saving for your child's future

25

of those in your age range are also saving to travel

How you compare to the UK

The other most popular options were 'not saving for anything' (31%) and 'saving for a house' (18%).

Piggy bank

How much do you think you should have in your pension pot?

Piggy bank

You think you need £100,000 + in your pension pot

25

You have underestimated the recommended amount by 59%

How you compare to the UK

Overall, people were likely to underestimate the recommended pension pot amount. The average underestimation overall was 46%.

Piggy bank

Do you know the current value of your pension?

Piggy bank

You're not alone

25

of people in your age range also do not have a pension pot

How you compare to the UK

Men are more likely than women to claim to know their pension pot size.

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Do you have life insurance?

Shield with heart

You're more prepared than most

25

only 32% of people in your age group have life insurance

Of those surveyed, the majority (48%) said they did not plan to buy life insurance.

Want to find out more about what life insurance covers?
Will and testament

Have you written your will and testament?

Will and testament

You are ahead of the curve!

25

Only 14% of those in your age range have written their will.

How you compare to the UK

While more men (40%) than women (37%) already had a will, more women who did not (45%) were planning to make one versus men who did not (40%).

Web logo on book

Have you planned for your online assets after you pass away?

Digital assets include online accounts (e.g. social media, email, shopping etc.), digital money or cryptocurrencies, information stored electronically (on or offline), domain names and intellectual property, including copyrights and trademarks.
Web logo on book

You're miles ahead!

25

Only 20% of those your age have accounted for any of their online assets.

How you compare to the UK

Men were both most likely to have online assets to look after, and also to have put measures in place to look after them. 25% had accounted for some or all of their online assets, versus 17% of women.

Overall you are

25

financially ready for the next stage of your life

Others within your age group were, on average, 20% financially prepared for their futures.

Ways to improve your preparedness could include setting money aside each month for savings, considering taking out life insurance and preparing a will for your future.

How you compare to your age group

  • How much do you have in savings?

    1. None
    2. £1 - £1,000
    3. £1,001 - £2,500
    4. £2,501 - £5,000
    5. £5,001 - £7,500
    6. £7,501 - £10,000
    7. £10,001 - £15,000
    8. £15,001 - £20,000
    9. Over £20,000
  • What are you saving for the most?

    1. House
    2. Car
    3. Travel
    4. Child's future
    5. Wedding
    6. Holidays
    7. House renovation
    8. Having a baby
    9. University
    10. Special event
    11. Retirement
    12. Other
  • How much do you think you should have in your pension pot?

    1. under £50,000
    2. £50,000 +
    3. £100,000 +
    4. £150,000 +
    5. £200,000 +
    6. £250,000 +
    7. £300,000 +
    8. £350,000 +
    9. £400,000 +
    10. £450,000 +
  • Do you know the current value of your pension?

    1. Yes
    2. No
    3. No pension
  • Do you have life insurance?

    1. Yes
    2. No
  • Have you written your will and testament?

    1. Yes
    2. No
  • Have you planned for your online assets after you pass away?

    1. Yes
    2. No
    3. Don't have any

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Data from visitors completing the Prepared for Life questions on https://www.moneysupermarket.com/, 1 March 2018 - 25 March 2019