How do you compare to other savers at the end of the tax year?
Comparing your saving habits to others can provide valuable context. Behavioural research shows that social norms strongly influence financial decisions: seeing what peers do can motivate people to save more or make smarter choices.
For ISA savers, understanding average contributions or allowance usage can be eye-opening. Many people underestimate how much others are using, or overestimate their own performance. Data from UK savers often reveals that small, consistent contributions build substantial progress over time.
A comparison doesn’t have to be competitive. The goal is awareness, not pressure. Knowing that the average saver has used a certain percentage of their allowance can inform your own choices, helping you decide whether to add more before the tax year ends. So – here are some stats.
- UK households saved a record £103 billion into ISAs in 2023/24 — the most in 13 years. (Source: HMRC)
- About 15 million adult ISA accounts had active deposits in the last tax year, showing strong engagement. (Source: HMRC)
- Average contributions in 2024/25 were around £7,335 into Cash ISAs and £8,695 into Stocks & Shares ISAs. (Source: ISA Barometer survey)
- Only around 1 in 6 ISA holders use the full £20,000 allowance each year. (Source: Royal London ISA landscape research)
- Almost 40 % of UK adults choose a Cash ISA as their main savings product, compared with ~21 % for Stocks & Shares ISAs. (Source: Building Societies Association)
Social comparisons can also highlight opportunities. For example, if you see that peers are regularly topping up a Cash ISA or investing early in the tax year, it may prompt you to adopt similar practices that align with your goals.
Data-driven insights can be presented in various ways: charts showing percentage of allowance used, typical contribution sizes, or growth over time. Visualisation helps digest information quickly, turning abstract numbers into actionable knowledge.
Finally, comparisons encourage reflection. Are you saving as much as you could, given your goals and circumstances? Are there simple adjustments you could make to improve long-term outcomes? Awareness is the first step toward action.
Used correctly, comparison data provides motivation without guilt. It allows you to benchmark yourself, see where you might improve, and plan the remaining contributions before the tax year closes. In this sense, comparing yourself to others becomes a tool for empowerment.
Top up today if you can to make the most of this year’s tax-free allowance before it resets. ISA and tax rules, and account T&Cs apply. If investing, capital at risk.\
Key tax year timings
To get you ready for 5th April, check out our timings for final deposits, transfers, move money, and new account openings.