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Saving for your dreams and financial peace of mind
In this article, we review survey results on the saving habits of 18 to 30-year-old Finns and share tips on the benefits of saving for you.
What dreams are you saving for?
18 to 30-year-olds often save money for short-term goals, such as travelling and holidays (48%) as well as leisure products and equipment (38%). Saving is a smart way to make your dreams possible without going into debt.
An example of the long-term goals young adults have is buying a home, and 39% of the respondents save money for this purpose.
Whether it’s a dream vacation, a new hobby or your first home, you can use your savings to achieve your goals on your own terms, step by step.
Saving will help you ensure that you will be able to afford your future dreams.
Saving gives you financial peace of mind
When your finances are in good shape, you can focus on other things that are important to you. Savings can give you financial security and peace of mind. Even a small buffer can help you cope with any unpleasant surprises life throws at you without having to worry about money too much.
How 18 to 30-year-old survey respondents save:
- 46% save for a rainy day
- 30% save for possible future expenses
- 25% aim to build their wealth through potential returns.
Young adults most often set aside money in a savings account or funds.
Build the future of your dreams – start pension saving when you are still young
Only 16% of young adults save for pension. This is easy to understand – retirement feels far away. But did you know that if you start saving at a young age, you will usually make the most of compounding?
Even a small regular amount may grow into significant wealth in the next decades. Why not get a head start on retirement?
Whether you are dreaming of early retirement, a pet of your own, a villa in Southern France or a holiday of your dreams – it pays off to start saving and investing now.
How young adults save
- Our survey shows that as many as 69% of 18 to 30-year-olds save every now and then or regularly.
- Low income and unexpected expenses are the most common reasons why some respondents don’t save.
- 49% of the respondents save at least a small amount of money even if they don’t have much money left over for saving.
Small income is not a problem
- Saving money on a lower income is also possible as long as you have a good balance between your income and expenses. You can get started with as little as 10 euros a month.
- You can make monthly saving automatic, so you can think about saving as just an expense, like a streaming service subscription.
Track your finances
- Nordea Mobile makes saving easy – and it can be fun too.
- Try features like automated saving, setting savings goals, budgeting and tracking your investments or spending.
See our tools for managing your personal finances in Nordea Mobile
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.