Should I be worried about my savings?

We don't have any savings at all

Well if you want to worry less, then take fewer holidays for a few years and put that spend into savings. If you'd rather have the holidays, then clearly you are not that worried.

Spending £20k on a car then saying you’re worried about your savings is somewhat unreasonable.
I had to get a car urgently for work 5 years ago and as I didn’t want to cut into my savings, I spent £2k on a low mileage 2009 Nissan micra which was supposed to be a stop gap. However it’s been an amazing car, never breaks down and just keeps going. I’ll run it into the ground.
I could have spent £30K on a new car but didn’t. It all comes down to choices and taking responsibility for ourselves.

I’m sure you can get something similar, maybe a bit bigger for around £5k.

I think there is an issue in this country of a showing off, “beat your neighbour” attitude.
Then complaining of the “ cost of living crisis” because they got their priorities wrong.

But people from different backgrounds and income levels can all worry about their nest egg. Especially given how much harder it is to save nower days

Yes ask, by all means, but use some tact. You've shown absolutely none. In fact you doubled down. Maybe try reading your OP back and imagining yourself skint?

I'm weighing up a bit of a "diamond shoes" problem myself ATM. I wouldn't dream of posting the way you have. This thread is cringeworthy.

OP I think you’re getting a hard time on here! We have a bit more in savings but it goes up and down depending on the latest renovation / money pit requirement for our house. No holidays or extras though for now!

If I understand correctly, between you and your husband you have a great monthly income (I think about 6k?!) and only 3k a month outgoings (which seems really low, is that for your mortgage, childcare, everything else, food, bills, petrol, hobbies, presents etc?!) so that leaves 3k a month that you could save to build your pot back up to a level you are happy with, and you will earn interest on this too. Then you also have your bonuses, maybe you should use those for your holiday budget.

I remember reading that it was advisable to have about 3 to 6 months worth of outgoings saved up, in case of losing job and trying to get back on your feet.

If you have less than that, it is worth trying to save.
I remember having very little savings and the washing machine breaking and I did fret about how to replace it. I managed to eventually!

After that time, I started paying attention to the 'pay yourself first' approach of putting money into savings straight after getting paid and then living on what was left. That helped me loads to grow my savings so I don't find myself in that situation again.
Obviously this can be difficult to do. I started with £10 a month into savings, but I realise not everyone can do that.

If you're smart enough to have just paid off HTB and bought a car outright, you're smart enough to know it's a good amount. You're also smart enough to know it will grow.

You're not smart enough to know this is a ridiculous question to post online on the very day thousands are devastated their CB payments haven't come through.

So you take regular breaks and holidays and you are not intelligent enough to ‘read the room’. My daughter who is renting is having her first holiday this year because we are paying for it . She is a SW and is highly intelligent,studied for her MA with a toddler and literally couldn’t afford for her car MOT last week.
Using a MN expression…give your head a wobble!

Absolutely, talk about humblebragging.

I'm still trying to recover from getting fuck-all support off the government during COVID. I'd kill for 20k in the bank.

So why do you give a shit what other people think?

@Sosomuchpain I get the anxiety and I'm not trying to be a b*tch to you. But you ARE in a very privileged position to have that amount in savings. Are you in a position to rebuild it?

If it makes you feel any better, we are just to plough the majority of our savings into our new property purchase and will probably only have 10k in savings left. I do understand the anxiety when you have had a large amount in savings and then you suddenly spend a lot of it - even when it's on something essential. But you will be able to rebuild, maybe not to the level you were before but you will be fine. And even if you were to lose your job, it's highly unlikely both of you would be out of work at the same time and that it would take you 6 months to find something else. And even if that did happen, you would find a way to deal with it.

Since OP and her DH earn £110k plus bonuses between them it would be more concerning if they hadn't bought a house, car and had that amount of savings

I wouldn't feel comfortable having that as a buffet.

But her “20k savings isn’t a lot” comment matters to HER so there’s nothing insensitive about her post.

So you had EIGHTY THOUSAND POUNDS just sitting in savings... But you bought a fucking house and a car, so now you're only sitting on TWENTY?! An absolute privilege OP and I absolutely cannot see how you could worry about it.

We live in a low cost area, and earn £60k between us, we have plenty money month on month. But we only have £1000 in savings. Wouldn't even consider worrying!! You're living in cuckoo land

@westisbest1982 did I say these people shouldn't want to feel secure?? Every single person in the world would like to be financially secure! It is not OPs desire to want a buffer that is an issue but the insensitivity of the "20k is not a lot for savings" comment.

I have zero in my savings as constantly battling paying off debt. You’re good.

OP should have maybe posted in 'money matters' section rather than Aibu