The Blog

abrdn’s Manifesto to get Britain Investing: Bridging the Savings Gap

Mar 28, 2024 | Investors, TEA Insights

By Sarah Penney

In the UK, the concept of climbing the property ladder has long been ingrained in our collective psyche. For many, owning a home represents financial stability, security, and a key milestone in life.

But what if we applied the principles of the property ladder to another critical issue facing society – the savings gap?

With public finances coming under increasing pressure, responsibility for our financial futures is transferring more heavily to us as individuals. 

To move forward feeling empowered and secure, we’re going to have to accept a cultural shift towards a more active approach towards saving, investing, and pension planning. 

Global investment company, abrdn, has recognised this need and launched a new campaign, in the form of a manifesto. In it, they advocate for the adoption of a ‘savings ladder’ culture, where saving and investing are integral parts of how people manage their finances throughout their lives. You can read the manifesto here: 

As advocates for greater financial literacy and the financial freedom this gives the younger generation, this resonates with us at TEA. 

At the heart of abrdn’s manifesto is the belief that by fostering a culture of savings and investment, individuals can build financial resilience, prepare for retirement, and ultimately achieve their long-term financial goals. 

From climbing the property ladder to climbing the savings ladder


What can we learn from the UK’s devotion to the property ladder that can be applied to closing the savings gap?

Firstly, just as climbing the property ladder requires careful planning, discipline, and foresight, so too does building a robust savings and investment portfolio.

It’s not enough to simply stash away money in a savings account and hope for the best. Instead, we need to take a proactive approach to our finances. We have to set ourselves clear savings goals, budget effectively, and invest wisely.

Just as buying a home often requires a significant financial commitment, so too does saving. We have to move towards taking proactive steps to supplement our savings for life. This includes thinking about retirement much earlier in life (sorry!), we’re not going to be able to rely on a public pension, so we need to think about optimising private pensions and how we can supplement later life with investments and other savings.

Financial empowerment through education


As we make this cultural shift, financial literacy will need to take centre stage. 

Moving from a property-obsessed nation, to one more in tune with the wider financial landscape, means we have to increase our understanding of more complex financial concepts. 

We’ve got to start young and equip ourselves with the knowledge and skills to make good financial decisions from a young age. This means improving financial education in schools, helping parents to have better conversations about money at home, encouraging companies to take more responsibility and communicate better on financial issues, and empowering young people to discuss their finances amongst each other. 

To bridge the savings gap, we have to evolve quickly to be more open in the way we talk about money – we’ve got to focus more on supporting and empowering each other!



Just as the property ladder has long been viewed as a pathway to financial security and stability, so too can adopting a ‘savings ladder’ culture help address the growing savings gap facing society today. 

By embracing the principles of saving, investing, and pension planning from an early age, individuals can build a solid financial foundation for the future and achieve their long-term financial goals. 

By coming together and working on this shift as a community, we can work towards creating a more financially resilient society for generations to come.

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