It’s fair to say that for generations, British savers have clung to the comfort of cash, leaving billions languishing in savings accounts that struggle to keep pace with inflation.
According to recent research, 15 million UK adults hold a staggering £610 billion in cash savings that could be working harder elsewhere. And the latest cuts to cash ISA rates may make it even harder for everyday savers to see real growth on their money.*
Although this ‘cash-first’ mindset is ingrained in British culture, it doesn’t always serve us well. Nearly a quarter of people doubt their financial skills, suffering from ‘financial imposter syndrome’, and only 16% hold stocks and shares ISA’s**. The result? Money is left idle, losing value as the cost of living rises.
What do we miss out on by not investing?
The numbers illustrate a troubling picture. Over the past 10 years, inflation has quietly eroded the purchasing power of cash. If you’d put £10,000 into a cash ISA in December 2010, its real value would have shrunk to £7,800 by August 2025. In contrast, the same amount invested in a global equity fund would be worth almost £22,500, even after accounting for inflation. In fact, over 30 years, global equities have grown more than 13 times their original value***.
So why do so many of us still ‘play it safe’ with our savings? This habit, while understandable, can be counterproductive. As goods and services become more expensive, relying solely on cash can risk the value of your savings not meeting your future needs. Dipping into savings too frequently and losing track of accounts are other common mistakes that can undermine financial security.
*Barclays: THE UK INVESTMENT GAP, May 2024
**Based on a nationally representative survey of 2,000 UK adults, conducted by Opinium for Quilter, September 2025.
***https://www.quilter.com/4aacd6/siteassets/documents/guides/q25-0529-money-needs-a-plan-guide.pdf
Breaking bad financial habits is easier than you might think
Image by Quilter
The good news is, if you’ve fallen into these familiar patterns, there is another way. As we begin 2026, now is the perfect time to give your money a plan. The solution doesn’t need to be lengthy or complicated. It can be as easy as starting small and taking advantage of regular investment features. And remember, it’s never too late to learn; financial confidence is built, not innate.
Quilter Invest offers a simple, accessible way to break old savings habits and start investing for the future. The app allows users to open an investment account in minutes from just £10, with no hidden fees. Whether you’re a beginner or looking to grow your knowledge, Quilter Invest’s Learning Hub provides clear, jargon-free resources to help you learn as you go. Features like Auto Invest make it easy to stay consistent, while expertly managed funds help your money work harder.
There’s no need to wait for permission or perfection – just giving your money a plan can help you take control of your financial future. Download Quilter Invest for free today and make 2026 the year you start your journey towards a brighter financial future. The value of your investments can go down as well as up and you may get back less than your original investment.
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