Making the most of your savings

Welcome to the Standard Chartered Emerging Affluent Benchmarking Tool – designed to help you understand how you compare to other emerging affluent savers in your market.

Do you have the same aspirations? Are you taking a more basic, or more advanced approach to saving money than others? And how much more could you grow your savings by, if you took a slightly different approach?

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What are you saving for?

The most popular savings priority in your market is

Age 25-34

21%

Children's education

Age 35-44

21%

Buying a home

Age 45-55

21%

Retirement

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Age 25-34

Age 35-44

Age 45-55

How do you plan to get there?

Basic saving methods are the most popular choice for saving money
Cash under mattress

11%

Store cash at home

Bank

43%

Use the most common
basic savings method*

Stockmarket

17%

Use the most common advanced savings method*

*Basic savings methods include: savings accounts, time deposits/fixed term deposits and regular savings plans. Advanced savings methods include: mutual funds, stocks/equities, fixed income securities/bonds and pensions.

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How much more?

14%

The average emerging affluent saves 14% of their combined income

3%

Save weekly

57%

Save monthly

Balloon

82%

People who are using the most common basic savings method in your market could earn X% more on their savings over 10 years if they used a low-risk wealth management approach instead, enabling them to achieve their goals sooner.

How's it going so far?

While some people feel close to achieving their main savings goal, others feel far away

58%

Close

17%

Far

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And while most people are confident they will achieve their target, others are not so sure

66%

Confident

12%

Not confident

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The top three barriers to saving more are

32%

Barrier

Not enough money

32%

Barrier

I struggle to set financial goals

28%

Barrier

I prefer to spend now

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Are you getting the right help and advice?

The top three sources of information are

45%

Friends and family

21%

Financial adviser

14%

Newspaper and magazines

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Digitally savvy savers are reaping the rewards, saving on average 8% more than those who don’t use digital tools. But only 23% are taking advantage.

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10%

Let Standard Chartered help you achieve your savings goals and maximise your savings potential.

Get in touch

Contact us today to discuss how we can help you save. Ask about our Premium programme, designed especially for the emerging affluent.

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Standard Chartered's Emerging Affluent Report reveals how savers in Asia and Africa approach wealth management. Download the full report and see how your market compares.

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This information is being distributed for general information only and it does not constitute an offer, recommendation or solicitation to enter into any transaction or adopt any hedging, trading or investment strategy, in relation to any securities or other financial instruments. This information is for general evaluation only, it does not take into account the specific investment objectives, financial situation or particular needs of any particular person or class of persons and it has not been prepared for any particular person or class of persons. Investment products are subject to investment risks, including the possible loss of the principal amount invested. Predictions, projections or forecasts contained herein are not necessarily indicative of actual future events and are subject to change without notice. Opinions, projections and estimates are solely those of SCB at the date of this document and subject to change without notice. See the report for Important Information and Disclosures.