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How much savings have you got?

(14 Posts)
MrsOs Thu 13-Aug-15 18:05:25

we save every month but I wondered what people thought were a good amount of savings to have? ?

ItsAll Thu 13-Aug-15 18:08:07

Well, what do you think is a good amount of savings to have? You'll get both extremes, and every answer in between grin. Isn't 6 months expenses a generally accepted Good Idea? It just isn't possible for a lot of people though.

sugar21 Thu 13-Aug-15 18:13:31

With the recent hacking of MN I think anyone who answers your question should think again

CunfuddledAlways Thu 13-Aug-15 18:20:54

We are aiming for 6 months worth of wages saved, have around 6weeks worth saved

TalkinPeace Thu 13-Aug-15 20:05:49

Personally I have a reasonable amount
BUT
ten years ago I had very little
twenty years ago I was horribly in debt
thirty years ago I did not even think about such things as I was too busy partying

it depends on lots and lots of variables

MrsOs Thu 13-Aug-15 21:02:27

I think 6 months of wages sounds good. Its difficult for us at the moment as we pay £1,000 for ds nursery!

Eminybob Thu 13-Aug-15 21:16:15

I did have quite a lot, I'm good at saving when I put my mind to it, but we bought a house for the first time, so deposit for that, plus a load of renovations then I got pregnant and went on 14 months maternity leave so it has all dwindled down to about £2.5k. That won't last very long at all if I was DP or I were out of work.

I'm going back to work part time, with childcare costs so I doubt I'll be able to build it back up again any time soon sad

It does worry me. But then again, we have a lovely house and I've managed to spend a lot of time with my DS.

ChampagneTastes Thu 13-Aug-15 21:22:10

If it's supposed to be six months income then we have about a third of what we should have but it's enough to survive on for about four months I reckon. It scares me.

Andcake Thu 13-Aug-15 21:25:41

I currently have over 6 months but am pooling nearly all of it for a house move and ideally to go mortgage free. Scary but I think we will benefit in the long run- eek

MrsOs Thu 13-Aug-15 21:32:12

After we got married we built up a fair bit but then we needed ivf so we spent over 10k on that. Scary how quickly it can all go!

Laska42 Thu 13-Aug-15 21:35:34

Pay off debts first..

Last christmas I had credit card debt, (Dh was the saver not me , so we were ok, but I used to feel so sick of my personal debt ) .

But this year I got my finances sorted, stopped spending on 'stuff' and started saving . Now I have a couple of months 'grace' of my own money in cash savings and with no CC debt can now add a few hundred into it every month

This year we also paid off the mortgage.. it feels so good.

I have also been putting a fair chunk every month into my pension AVCs for many years so I have money but not accessable for a couple of years yet..

YeOldeTrout Thu 13-Aug-15 21:58:59

Um, a lot (no the passwords aren't the same).

Mostly a problem of teenagers thinking we should spend it all on them (sigh).

ItsAll Fri 14-Aug-15 09:03:57

I don't think it's supposed to be 6 months income, I think it's supposed to be what it would cost you to live for 6 months.

velidhu Fri 14-Aug-15 21:19:37

We have the equivalent of 4 mths' net salary offsetting our mortgage atm which in reality would hopefully cover 6 mths' actual expenditure.

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