To think this level of saving is extreme and I’m right to question it?

Not really as he doesn’t have properties, he has his home. And how long has he been in this relationship? We also don’t know if his savings are invested.

I’m not suggesting that it isn’t possible to save, I’m disputing the poster claiming that it’s not hard to save over £154,000 on a maximum salary of £38,00.

It’s not exactly easy if it takes two decades, is it?

In the last decade I've had savings accounts with relatively high interest and I don't have huge amounts of savings.

The more money you have, the more interest banks are willing to let you have on your accounts. And that accrues faster, because each year as well as your own input the interest is added and then your interest £amount the following year is higher.

People also tend to work for longer than 10 years of their lives, so it doesn't need to be 10 years of 1k a month. It could be 20 of £500.

Some jobs come with bonuses too. I've always used mine for things we need (new car, house repairs, insurances in one lump sum etc). Some people use theirs to pay off chunks of mortgages. Some save them.

Then there's gifts, inheritance etc.

If you want a big savings pot, it can be done. How long it takes is dependent on circumstances but if you are disciplined it will happen. I haven't been but I'm on my way now and I can see it building.

I imagine they just haven’t been together all that long and living with OP in her home is sort of playing house rather than them bough deciding on to officially move in together and commit. So keeping his house allows them both an out at any time.

There are some very big holes in this jigsaw!😶

Do people not realise that the wealthiest people live off the interest their savings generate or off income that comes from owning properties.

That’s why not renting his house out is so mystifying. 🤷‍♀️

Sure but during the last decade interest rates have been insanely low. 1% interest isn’t really helping you reach 154k by saving 1k a month.

Interest accrues. Maybe investments paid off.

I mean I would argue having £154,000 in savings on a maximum of £38,000 salary is hard. Being conservative having all housing and living expenses at £1,500 then having £1,000 spare it would still take well over a decade for to achieve 150k.

True, although it appears he's not invested the money.
The whole concept of questioning the amount that someone is saving seems very strange to me, is if the default is to spend all your money!
I take home about that much and I save about two grand a month.

There are some odd attitudes towards saving on this thread.

I didn’t know that to save you have to have a reason.

Do people not realise that the wealthiest people live off the interest their savings generate or off income that comes from owning properties.

That’s exactly my view now , still buy things I need or love but priority is saving to retire at 55 - amazing how much you can save with that carrot dangling !

It sort of depends what he does with the rest.

So, he saves £1,500, that leaves £2,300. That's plenty to live on. If his mortgage is £1k, he's got £1,300 left. Say he gives you £300 for bills and spends £200 on food. He's got £800pm disposable. That's actually quite a lot.

And I bet his mortgage isn't as much as £1k.

I think having £800pm to do what you want with is plenty. OK, so he doesn't go to top class restaurants. Must people don't.

I used to save £1k pm, ten years ago, so £1,500 now is probably the same. Until the mortgage is paid off it's hard to say how much is "secure", but he might need to spend £20k on a car in two years, for example. Or replace a central heating system for £7k. That's what savings are for. If he's like me he won't want to take loans for these things. I've never had a loan. Or any hire purchase.

The better question really us - why isn't he renting out his property? That income would make life better for both of you. Or, why doesn't he sell it. Is he not all in?

I have twice that. Although no house yet. But it's not that difficult. Never earned above 38k either.

I would save rather than spend on lavish things. I don't value lavish things. I'd rather retire earlier

I can’t see an issue really I’ve been saving more on similar salary , you have differing priorities - find a friend to have a luxe holiday with that’s what I do as husband quite happy with a week in a cottage in U.K. and no desire to travel

Depends on the mortgage and your appetite for risk. Sometimes you can make more money on investments than you pay in interest.

Depends how long is left on it, how much you owe, what the early repayments are on it, what interest you're paying on that v what you're getting on your savings and what your actual aim is.

@ITru not excessive to him, obviously, so that is all that matters.

So he has 100k in savings but he's still paying a mortgage, that seems rather irrational, surely the first thing you do is pay down your mortgage?

Is he into FIRE? (Financial independence, retire early). Some of those guys are able to save 75% or more of their incomes by living very frugally, buying themselves years and years of extra freedom by retiring early. I assume not as he doesn't seem to be investing it, but it's not a loony amount to save!

Wish I was saving that much tbh!

He is contributing 50% of bills with the exception of mortgage

Precisely.

If he lives with you why does he not rent his house out? He’d have even more money then! He could save less and spend more on fancier meals for example! Seems a waste to pay a mortgage on a house he isn’t in!

But that doesn't make her DP wrong.

If he likes camping and she likes a fancy hotel (as she said earlier in the thread), it's not about the costs. It's about them having completely different ideas of fun.

If he likes fancy hotels but refuses to pay for them because he's stingy, that's different. But if he doesn't, it doesn't matter how much money he has, he would be the one not enjoying their holiday. Not about how he wants to spend his money so much as his time. Same for OP.

I went out with a guy once whose idea of a fun holiday was AI in Turkey, laid on a sun lounger drinking as much as he could. Never leaving the resort. I can't think of anything worse. I'd much rather go camping, or get a cottage by the coast, or literally anything that involves being outside in nature away from normal society. Unsurprisingly we didn't last because we weren't able to have fun together.

Editing to add: I used the word "lavish" because OP said she wanted to do more "lavish" things and was a bit out out he could afford to but wouldn't.

Just chat to him about it!