Goal posts shifting: saving habits evolve as nearly 10 million young adults embrace shared goals, leading to healthier habits

New research from St. James’s Place (SJP) reveals that saving with other people is one of the strongest motivators for building better financial habits, particularly among younger generations.

The latest chapter of SJP’s Real Life Advice Report 2025 looks at the nation’s financial goals, attitudes to planning and the impact of advice in helping people achieve them. A generational shift is emerging in how people approach their finances, with younger adults more likely to see collaboration with a partner — whether saving for a home, travelling, or building financial security – as key.  Nearly two in three (64%) 18–34 year olds say saving as a team helps them stay on track, compared with half (51%) of 35–54 year olds and just one in three (31%) over-55s.

A shared purpose is helping to deliver measurable impact. Nearly nine in ten (87%) people saving towards a goal say it acts as a major motivator to keep going, and two in three (63%) believe it helps them build stronger saving and investing habits.

Social media influence on goals  

While social media can inspire financial action, its influence can be fleeting. Over half (55%) of people say they’ve encountered goal-based saving challenges online — such as “no-spend” months or 52-week savings challenges — but fewer than one in ten (9%) find them genuinely motivating, and a similar proportion (9%) say they give them ideas but don’t change their habits. 

Younger audiences are slightly more receptive with 16% of 18–34 year olds say such challenges motivate them.

Short-term goals dominate younger adults’ priorities

Among the most common goals people are working towards, young adults focus more on immediate financial milestones than longer-term security. Although starting early can make the greatest long-term impact, only one in five (22%) Gen Z savers (18–27) are currently saving for retirement, compared with 63% of Gen X savers (44–59). 

Instead, short-term goals such as travel (33%) and home deposits (30%) and large purchases e.g., a car (21%) top the list of financial priorities among Gen Zs.

Advice provides structure and long-term focus

Professional advice is playing a defining role in shaping purposeful saving. Those receiving advice are more than twice as likely to have a comprehensive financial plan with timelines and life goals (68% vs 32%) and twice as likely to be working towards a specific goal (37% vs 16%). 

Professional advice is a key differentiator in people’s progress towards their goals, with eight in ten (85%) of those receiving ongoing advice on track or ahead of their savings and investment targets – compared with six in ten (64%) of those without.

Financial choices are also more directional and purposeful, with over eight in 10 (85%) advised individuals say their spending, saving, and investing are aligned with their life aspirations – compared with 60% of those unadvised.

Claire Trott, Head of Advice at St. James’s Place, said: 

“Saving is often seen as a solitary exercise, but our research shows that shared goals can be far more powerful. Younger generations in particular, are motivated by doing things together – whether that’s saving for a home, travelling or building financial security with a partner. Turning that shared motivation into long-term planning is the next big challenge.

“While social media can be a useful playground to spark ideas, and shared goals can help keep people motivated, advice and structure is key. Setting clear goals and building a plan, with the right professional support, is what can help turn good intentions into real financial confidence.

“Looking ahead, our research highlights how we need to do more to break down the barriers to professional advice and, more widely, to accessing some form of financial planning support. That’s why the Government’s Targeted Support proposals are so important. They’re about creating something in between general guidance and full regulated advice, so more people can get support when they need it most.”

St. James’s Place’s Real Life Advice Report will be published in a series of chapters over the coming months, examining how advice helps individuals and families across generations to reach their goals and overcome challenges.