Two-thirds of young savers have postponed a significant life event they could genuinely afford, held back not by a specific bill or shortfall but by a broader unease about their financial position, new research from LHV Bank has found.

The survey of 2,000+ UK savers, carried out by Censuswide, found that 67% of savers aged 18-24 had put off a major life event even though they had the funds to go ahead. That compares with 60% of 25–34-year-olds and 61% of 35–44-year-olds and stands in sharp contrast to the over-55 age group, where fewer than a third (31%) had delayed a life event for the same reason.

The finding runs counter to the standard cost of living narrative, in which people delay milestones because they simply cannot afford them. Instead, LHV Bank's research points to a generation who are financially able to move forward but psychologically unwilling to – a form of money anxiety detached from their actual account balance.

Rising headline costs may be feeding that unease, even where they aren't the direct cause of any individual's delay:
The average cost of a wedding has increased by over 27% to £21,990 in 2026, compared with £17,300 in 2021
A 10% deposit on the average UK home now stands at £27,280, compared with £21,392 in June 2016 (another over 27% increase)

The cost of raising a baby in its first year has grown by 41% from around £6,000 in 2022 to £8,460

Alex Beavis

What's most striking is that people are delaying milestones they could genuinely afford, not because of bank balance, but because of a feeling. This is a generation that has lived through the financial crisis, the pandemic and now a cost-of-living squeeze, and that history seems to have left them braced for the next shock even when their own finances say otherwise.

The rising cost of milestones like weddings, homes and children is clearly part of the backdrop but our data suggests the bigger barrier for young people isn't the cost of any one event. It's a general wariness about money that lingers even when they can afford to act. We can't control global economic shocks, but we can make sure our own finances are working as hard as possible so that uncertainty doesn't lead to postponement or inaction.

Overcoming delays

The research from LHV Bank has also revealed that younger savers feel the concept of ‘rainy day’ savings is outdated, preferring to set money aside for specific goals. Irrespective of the motivations, savers can reach their goals – and avoid having to postpone significant life events – by being Active Savers.

That means being proactive in shopping around for a better rate, rather than assuming they are getting a decent deal from their bank. Making use of a range of savings products can also be effective, combining an easy access account for emergency funds and fixed rate bonds for money that won’t be needed imminently. That way, savers can make their money work harder, earn more interest, and hit their targets more quickly.