Almost three-quarters of Edinburgh residents (73.5%) have had to use their savings over the past 12 months to cover everyday outgoings as they contend with the cost-of-living crisis.
New data from Scottish Building Society’s Savings Barometer 2026 reveals that 74.7% of people in Edinburgh believe the economic climate has negatively affected their finances over the past year.
Launched in 2025, Scottish Building Society’s Savings Barometer tracks savings habits across Scotland. This year’s findings come as rising prices continue to put pressure on household finances, with annual inflation reaching 3.1%.
For many Edinburgh residents, economic pressures have forced a change of plan with their finances, with more than seven in ten stating they had scaled their financial goal back, extended the time to reach it, or put it on hold altogether.
Nearly three-quarters (73.5%) of those in Edinburgh said they were concerned about their ability to save at all throughout 2026.
Of those able to save, a holiday was the most common savings goal, cited by 33.3% of respondents, compared with 17.5% saving for a new car and 17.1% for a new home.
Their responses mirror the national outlook. Nearly three in four Scots saw their finances negatively affected by the current economic climate, and 65.5% had used their savings to pay for day-to-day outgoings.
Across the different generations, 71.7% of millennials, 67.8% of Gen Z, 64.0% of Gen X and 60.7% of baby boomers said they have had to dip into their savings in the past year.
Paul Denton, CEO at Scottish Building Society, said: “This research is a stark reminder of the pressure Edinburgh households are under. When almost three-quarters have had to draw on their savings over the past year to cover everyday costs, it is clear that, for many, the priority is getting through the month rather than saving for longer-term plans.
“What’s clear from the research is that people want to save, but we know that finding money to put aside can be difficult when household budgets are stretched.
“We want to help people make whatever they can save work as hard as possible for them, whether they are rebuilding a buffer after dipping into it or saving towards a particular goal. There is no one-size-fits-all approach, and even a small amount set aside when circumstances allow can help people feel more prepared for what lies ahead.”
Scottish Building Society is the only building society headquartered in Scotland. Established in Edinburgh in 1848 as the Edinburgh Property Investment Company, it is the oldest remaining building society in the world.
As a member-owned mutual, it offers savings accounts and mortgages, reinvesting surplus profit for the benefit of those members.
For more information visit: Savings & Mortgages Scotland | Scottish BS.
