The lenders research discovered that the average UK couple spends close to a million pounds (£877,000) on key lifetime events such as buying a house, getting married, having children and enjoying a comfortable retirement.
The cost varies tremendously across the UK, Londoners face an average cost of close to £1.2m compared to a leaner £702,000 in the North East.
The two most expensive costs are the cost of retirement which stands at close to £685,000 and the cost of buying a house: a typical three bedroom semi-detached house in the UK is close to £175,000 (£174,429).
Philip Robinson, savings director at Lloyds Bank, said: "The average cost of meeting our lifetime goals is almost a million pounds, which is a daunting figure for anyone.
“However, the report clearly shows that by getting into the saving habit early you can significantly improve your financial health later in life”
The research found that of those between 45-64 year-olds who started saving seriously before age 25, 55% now own their home outright, whereas among those who only started saving seriously at age 34 or later, only 35% owned their home outright.
