Brits are saving two-thirds less than last year Analysis by Paragon Bank suggests that the amount people in the UK who are saving is falling dramatically. The total saved in June was two-thirds down on June 2021’s total, with soaring living costs seemingly having an impact on the money people can set aside. The analysis shows £400m was saved in accounts with CACI member banks from May to June 2022, taking the total held in such accounts to £995.1bn. Between May and June 2021, CACI member banks - a group of more than 30 leading savings providers - took in more than £1.2bn. The report shows that as of June, roughly half of easy-access savings accounts held £500 or less, with 37% holding £100 or less. Derek Spawling, Paragon Bank's savings director, said the data “provides further reason to believe that savings growth is becoming more challenging,” adding that inflation is “starting to hit home.”