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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask how much you save each month roughly?

161 replies

SunnyWavess · 11/08/2024 22:53

As the title says - how much does the average household save each month once everything is paid? Some families won’t be able to save anything and that’s their experience.

zero
£50
£100
£200
£500
£750

We’re all different of course but would like some insight of the average house - thanks

OP posts:
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lalalapland · 13/08/2024 15:09

Depends on what you consider as ‘saving’. We pay extra into pensions as it’s pre-tax - £2.5kpm and over pay our mortgage by £600. These are priorities over saving for nothing in particular. We both maintain high interest ISAs but Holidays, repairs etc are paid from salaries.

thecatsthecats · 13/08/2024 14:57

Aim will be 1.2k per month, once I rtw from.mat leave.

Take home is 3450 from job and side hustle. I need to put £2k into the joint account monthly, give myself £250 allowance per month and remainder to different savings pots, inc. short term pots like presents right up to long term pots for cars and pensions.

My savings target is actually £1800 per month, so I'm going to work on increasing my side income.

MrsSunshine2b · 13/08/2024 14:48

Thecatspjymas · 11/08/2024 23:32

I'm sorry to be that person but I find it really upsetting that you are accepting funded hours and able to safe 5k a month. That system is clearly broken

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What are you upset about? Funded hours aren't means tested. They are subsidised so working parents can access childcare at more affordable rates. Other countries subsidise childcare much more heavily.

Monkeysatonthewall · 13/08/2024 14:13

Thecatspjymas · 11/08/2024 23:32

I'm sorry to be that person but I find it really upsetting that you are accepting funded hours and able to safe 5k a month. That system is clearly broken

Show quote history

I'm sure @GiantRoadPuzzle and her DP will have paid enough into the system as it is.
And maybe they sabe so much because they don't spend much. There are people out there popping out a new baby every time they're in a new short term relationship that can't be bothered to work and they're entitled to a lot more. Maybe worry about them instead.

Startingagainandagain · 13/08/2024 09:02

'@BCBird
Shocked how much people can save🙄'

Remember this is Mumsnet where many people seem to earn over 60K and have partners who make 6 figure salaries and they save thousands of pounds every month...

In reality:

  • up to a third (34%) of UK adults had either no savings, or less than £1,000 in a savings account
  • the average wage in the UK is 35K
  • average saving per month per household is £450. That likely implies a couple with 2 incomes.

I always assume that many of the people posting on this type of threads are either a very privileged/small section of society or people are fibbing.

RandomUser987654321 · 13/08/2024 07:24

We're 30, Including our pensions (& employer contributions) we invest £5500 per month
Person A
£1300 Pension - £1200 S&S ISA
Person B
£2000 Pension - £1000 S&S ISA

Sendhelp101 · 12/08/2024 22:51

Usually around £200 but haven't been able to save for a while as everything seems to be going wrong and needing replacing. Single parent with 1 child on low income and no help from dad. Lucky enough to have own home with very low mortgage thanks to inheritance.

PassThePeaceAndQuiet · 12/08/2024 22:42

Cobblersorchard · 11/08/2024 23:10

£0

But I have 2 houses, a child and defined benefits pensions. So I’m all good.

I have some high outgoings at the moment and working slightly part time. All of which will alter shortly, then I will be back to saving about £1k monthly.

This almost exactly for us too. 👆

We have a huge personal loan for all the IVF and work on one of the houses which is a moneypit until it's paid off.

Ireolu · 12/08/2024 22:33

£100 child account. One DC.
£1000 paye work.
Variable self employed work ~2k. Sometimes more sometimes less. This is being saved to pay down large London mortgage. Trying to be mortgage free ASAP so we can spend our money on other things instead of paying interest to a bank.

Nellieinthebarn · 12/08/2024 22:19

DH is retired, he has a state pension and a couple of small private pensions. I have taken early retirement due to ill health, I have a small private pension and a very part time job.

I aim to save about £200 a month which is about half my income from my little job, that goes into an ISA. DH does the same.

It's tight but doable if we are careful. Some months its a bit more, this month might be less because the car is going in for its MOT.

grafittiartist · 12/08/2024 22:19
curlycurlymoo · 12/08/2024 21:53

£400. But sometimes dip in. Two kids. Will be upping this next month to about £700

jelly79 · 12/08/2024 21:52

£120 a month but use it for holiday spends

Will up to £200 soon

Have 1 primary aged child and I am a single parent

Frazzled2108 · 12/08/2024 21:46

Zero

Lunab18 · 12/08/2024 21:36

£200 a month for Christmas, £300 for holidays and £100 for kids savings.

LoinChop · 12/08/2024 21:30

£4k A month. 2 x high earners, large mortgage, 3 dcs, all in school.

GoingUpUpUp · 12/08/2024 21:17

£1k into savings
£500 into company share save scheme
£200 overpaying mortgage
£100 kids savings

Then as others say I save into holiday, birthday, Christmas and DH time off (self employed) pots though this is more budgeting than saving as it gets spent.

We’re late 30s, with low childcare costs (I.e no nursery!) but quite a big mortgage

Gawjus · 12/08/2024 21:17

£1,000 a month. Single no kids, and now have £270k saved.

TorroFerney · 12/08/2024 20:42

Belindabelle · 11/08/2024 23:00

£3k but we are not an average household. Me 55 DH 58 no mortgage, children grown and flown.

Similar here. One child who is 14 but no mortgage or loans , cars paid for.

Cel77 · 12/08/2024 20:37

£100/month for my "rainy days ".
£60/month in my private pension
£20/month in my children's ISAs

I'm broke all the time but stick to those 3 above.

19lottie82 · 12/08/2024 20:36

I have existing savings, but don’t earn a lot at the moment. However I put away 10% every time I get paid.

timetodecide2345 · 12/08/2024 20:32

About £350 into savings but another £450 into pension investments. At the end of the month I move any money into savings if can afford to.

Kitkat1523 · 12/08/2024 19:11

Me 1500
DP 400
im 59

Spectre8 · 12/08/2024 19:05

rainbowunicorn · 12/08/2024 11:41

Why is it upsetting that a family who will be paying a fair amount in tax and NI should get back a little bit of what they pay in. They probably pay in more in a year than some do in a lifetime. Why shouldn't their children benefit from the funded nursery place the same as everyone else's.

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Well you could then argue why don't single childfree/childless people who fund everyone else's choices don't get some benefit back like 50% off council tax 🙄 such is life though

justasking111 · 12/08/2024 18:00

thicklysettled · 12/08/2024 16:46

Why are you saving nearly $4k a month but only paying the interest on your mortgage? Not judging, just don't understand.

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£36k a year on holidays and 9k a year on Christmas is a bit mind boggling.