“Self-Care” or Self-Sabotage? New Loqbox Research Reveals the Top Excuses Brits Give for Not Saving

As UK Savings Week (22-28 September) kicks off, Loqbox, an award-winning credit-building business, has revealed the most popular excuses we tell ourselves when it comes to saving money. Topping the list for over a quarter of adults (26%) is the classic: “I’ll start saving next month.”

The survey of 600 UK adults highlights a generational divide in financial procrastination. While every age group has its go-to excuse, the leading logic changes dramatically depending on whether you’re a Gen Z, Millennial, or Gen X:

• Young Millennials (28-35) and Older Millennials (35-44) are most likely to say “I’ll start saving next month” (29% and 28% respectively)
• Gen Z (18-27) lead on “Treating myself is self-care” (26%), with Young Millennials close behind (23%). In contrast, just 7% of Gen X feel this way
• Gen X (45-60) top “If I buy this on sale, I’m pretty much saving money” (27%)
• On the flip side, Gen X are also the most likely to say they’ve never made excuses not to save money (28%), while Gen Z are the least likely to say that (10%)
• By gender, men are slightly more relaxed about deferring financial decisions. “Future me will figure it out” was cited by 19% of men vs 16% of women. Women are a touch more likely to frame spending as “self-care” (21% vs 19% of men)

Tom Eyre, CEO and Co-Founder of Loqbox, commented: “This research portrays a snapshot of the UK’s relationship with money, and shows that the biggest barrier to saving isn’t just about numbers; it’s the stories we tell ourselves. The rise of the ‘self-care splurge’ among Gen Z and young millennials shows how easily a positive cultural trend can become a financial roadblock.

“UK Savings Week is the perfect time to notice those patterns. Once you spot yours, whether it’s putting it off until ‘next month’ or justifying a purchase as a bargain, you can start to take back control. It’s not about pressure or guilt, but about understanding your money mindset so you can build habits that genuinely serve your future.”

Loqbox tip for UK Savings Week: Start small. Set up a tiny, automatic transfer to a savings account each payday. Even £5 is a victory. Over time, these micro-actions snowball into meaningful savings – no guilt and no excuses required.