To feel utterly deflated that it’s ‘only 12k a year’ and to ask when is enough?

Don't take any notice of your silly brother and keep your financial information to yourself from now on.

You're doing really well. It's a great thing to have paid off that debt and saved that much in ~2 years, don't let him belittle your achievements.

No idea what your expenses are, but what's generally advised is to have savings equivalent to 3-6 months of outgoings in order to have a decent buffer against the unexpected.

Once you've achieved that, ideally follow at least a 50:30:20 ratio (needs: wants: savings) in distributing your monthly income.

Obviously that depends on your income & expenses as to whether it's achievable, but that's a general guideline often quoted on financial advice sites.

If you haven't used an ISA yet, saving tax free is obviously an advantage, and then when you have a large enough buffer, put some of that into stocks and shares for a better return on your money, but keeping enough cash in case of emergencies.

Overpaying your mortgage can save significant amounts over time as well.

Best of luck with it!

"If 'only £12k' is so paltry, it would be a lovely gesture for you to match my savings into an ISA for DS, thanks DB!!"

Watch I think you are doing extremely well and he sounds jealous of your achievements.

Your brother is being a dick and you’re doing REALLY well

I'd be pleased if I'd managed 1k in 12 months 🤣🙈

I haven't managed to save a penny since draining our savings in August! Your brother is a dick

Saving £1k a month is amazing

Don't listen to him

I think your brother has a touch of the green eyed monster. So what if your boiler breaks or your roof needs fixing. You have money set aside to fix it. You won't have to borrow and get yourself into more debt.

He's not that financially savvy if he thinks boilers cost £12000.

He's not supportive either. Well done op, don't tell him any more of your business,

Ignore your brother.
you’re doing brilliantly.

£1k a month is amazing. If I could save that I'd be thrilled. I try but usually end up dipping into it before pay day. You're doing fantastically well. Ignore your brother.

I would maybe have a think about how much you want to prioritise saving before you maybe relax a bit and maybe put a bit less away. Enough long term savings to live and for X months if you lost your job or had an accident that meant you couldn't work would be a very comforting cushion to have as a single parent.
And of course budget for one off and occasional expenses like vehicle or house repairs, but overall it sounds like you are doing fabulously and just need to never discuss money with him ever again!

I'm not sure what domestic boilers he is looking at that cost £12k!! And I think he is missing the point - yes an unexpected expense will make a dent in your savings. That's exactly what they are there for - to be used when needed! Then you carry on building them back up until the next big thing you need to pay out for.

I think they reckon 3-6 months of your normal expenses to have in rainy day savings is a sensible amount to aim for.

I'm getting a new boiler fitted next week in london, it's a which best buy boiler and the whole thing with fittings and installation is costing me £2300, so he's completely wrong about that for one thing.

1k a month is a huge amount and you should be massively proud of yourself. If you invest that rather than just saving it then the pot will grow a lot more - with that much investment per month you could earn a significant amount. I would keep 5k as a solid nest egg you can access any time for emergencies, use the additional 2k as a lump sum mortgage overpayment for this year, then start investing 500 a month in a stocks and shares ISA and overpaying the mortgage by 250 a month, giving yourself an additional 250 to spend.

Stop oversharing. It’s none of his business. 1k a month is amazing

Do you mean he has no mortgage because he rents? I wouldn’t be surprised if his rent is more than your mortgage, and he clearly has little idea of the general cost of things as you’d have to live in a mansion for a new boiler to “wipe out” £12k. I would bet he’s jealous and/or projecting.

Not sure what your AIBU is but YANBU to feel like his comments are rubbish and YABU to believe him in thinking £1k a month isn’t amazing

I think by most standards saving that much a year is fucking amazing. Genuinely. Even more amazing that you have cleared that massive debt .

Granted it was ten years ago but my boiler was less than a grand.

What a dick, unless you were saying you were planning to spend it on a big holiday or something then he's just being a negative twat

If you live in a house you own, are successfully paying the mortgage, meeting all your bills AND managing to find 1k surplus a month you are in an incredibly stable position compared to a huge % of families and have done amazingly to get there on your own.
Does he realise how many people are in rented accommodation living paycheck to paycheck?

You are doing really well. I wish that I could save £1000 a month. Your brother needs to wind his neck in.
Well done on being rid of the debt too.

Jesus Christ, £1k a month is terrible is it. Glad he's not my brother, he'd be horrified, I've got £0 savings and am not likely to have any for a long while. Ignore him, you're doing great compared to many people

@TeenLifeMum your dad was impressive especially if he did a desk job.

OP you also get interest on savings so it will be more than 12K per year if you are careful. Split your savings into pots so some of it is easy access (low interest) while other parts aren't (higher interest). Also make sure you aren't paying tax on the interest.

You are doing so well to save that each month, but @DragonFly98 makes a useful point. Now that you have a financial cushion for emergencies, it does probably make sense to put some of that into overpaying your mortgage, if allowed. I might consider £500 to savings; £300 to overpayments and a bit more fun money for you and your DC. But congratulations on your achievements to date. Your DB is a prat, but probably kindly meant.

Anyway a new boiler won't wipe you out, you can get grants and also pay for these things on credit. My last boiler was paid in installments.

Tell your brother to shut up. I can only manage £500 a month. If you are saving 1K and looking after a child alone you are some kind of magician. I want to know how you do it?
ANY amount is better than no amount.

If you ever need a new boiler it will have to be paid for whether you have savings or not. What an odd thing to say. Pay no attention to him. He sounds like the friend that tries to push cake on you even though your on a diet.

It's not pointless to keep saving. You keep going. I'm impressed you can save 12k a year. That's great.😁