Two out of three Finns save regularly

It’s not all about income

Although people with a higher income are more likely to save money, balanced finances are a more important factor in becoming a saver than your income alone. Saving money on a lower income is also possible as long as you have a good balance between your income and expenses.

Do you have the same saving habits as your friends?

Our preferred way to save depends on our age and gender and how much risk we are willing to take. A savings account is the most popular way to save across all age groups and stages of life. As many as 50% of the respondents say they have a savings account, while one in three say they invest their savings in investment funds. Savings accounts are especially popular with people under 34 and over 65 and with those who are more risk-averse. Investment funds, on the other hand, are popular with people who are willing to take more risks with their investments. 

Are you saving for a rainy day?

If your answer is yes, you are aligned with 58% of the survey respondents. People are saving money for different purposes.

Some want to build a financial buffer or prepare for a specific upcoming expense, while others save money for trips or hobbies. In addition to these, the respondents mentioned other reasons for saving money, including health expenses, grandchildren, pets and preparing for a rainy day or for major life changes.

Young people save money to buy a home, families save for home improvements

Where you are in life has a fundamental impact on why you save money and what for. Young adults save money to buy their first home and for their leisure activities, for instance. Families with children, on the other hand, save money for their children and for larger investments, including home improvements or buying a holiday home. Older people often save money for their retirement or simply out of habit.

People who save regularly are typically the ones whose goal is to save money for their retirement or to grow their wealth. They have a long-term approach to saving, whereas people who save for a trip or leisure equipment may be putting money aside for just a few months.

Find the best way for you to save

Today is a great day to start saving. Even if you put aside a small amount each month, you will benefit from the effect of compounding. Setting a realistic savings goal you can afford makes it easier for you to start saving. 

Read our tips for getting started

About the survey

The survey was conducted as an online panel by Norstat between 7 and 21 October 2024 with 1,976 Finnish respondents aged 18–74. The responses are weighted based on the respondent’s age, gender and place of residence. The margin of error is ±2 percentage points at a confidence level of 95%, depending on the answer.