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Brits are now prioritising fun over financial security , new research has revealed. More than half of us are putting holidays , concerts and meals out first, with 56 per cent of the nation placing experiences ahead of saving for the future. One in three of us buy a treat every payday - with favourite purchases including new clothes, gadgets and weekends away as well alongside little luxuries like takeaway dinners and streaming subscriptions, the study shows. The group most likely to live for today are millennials aged 29 to 44, who are twice as likely to splash out on experiences as their parents, according to the Coventry Building Society survey. But though plenty enjoy living for the moment, a significant number are putting cash aside - with 25 being the average age Brits start saving seriously. Surprisingly, the most disciplined savers are Gen Z, with 18 to 24 year olds stashing away a fifth of their earnings each month. Millennials come in second, saving around 17.9% of their income while the over 65s are at the other end of the scale, putting away just 13.1%. Jonathan Wilson, senior savings manager at Coventry Building Society, said: “What really stands out from this research is that more than half of Brits - 56% - say they’d rather spend their money on memories and experiences than put it aside. “That doesn’t mean people don’t care about the future, but it does show how much value we all place on enjoying life in the here and now. Many of us try to save for life’s rainy days - but it’s just as important to set something aside for the everyday moments that matter. "Our Sunny Days savings campaign is about supporting those feel-good moments and financial wellbeing across generations. The research also found that while younger Brits lean more towards spending, the divide is felt across all age groups. One in three say payday is the perfect time to treat themselves, while nearly half still list saving and security as their top financial priority Research earlier this year highlighting the UK's financial resilience placed Wokingham, Elmbridge and St Albans at the top of the list. In contrast, Hull, Nottingham, and Liverpool were identified as the least resilient in findings from Hargreaves Lansdown’s savings and resilience barometer. The study looks at various aspects of household finances on a local scale, utilising data like the Wealth and Assets Survey, which spans Britain, and insights from the Financial Conduct Authority’s Financial Lives Survey. Oxford Economics provided economic modelling for the research, assessing various elements of household financial resilience, including savings, retirement preparedness, and indebtedness. According to the report, while income is a facet of financial resilience, housing affordability plays a significant role too, as areas lacking affordable homes hinder residents from purchasing property and thus enhancing their financial security. Sarah Coles, head of personal finance at Hargreaves Lansdown, pointed out: "There’s a vast gulf between the capitals of resilience and the tougher areas where money is stretched and the future looks much harder. "Among the top 10 most resilient local authorities, 79% of households have enough cash left at the end of the month to be resilient, compared to 54% among the bottom 10." Wokingham and Elmbridge, she mentioned, are favoured by high income levels and homeownership rates. St Albans in Hertfordshire has been ranked third due to factors such as high average earnings, which leaves room for long-term planning, and a relatively high number of investors residing there.
