As a household how much are people managing to save?

We typically save around £500 and put £150 on mortgage. We earn about 85k 1 child (2 slightly dependant adult children)

1 DS just about to leave nursery this summer. Mortgage paid off before DS was born.

I put 5k into pension and about 2k into other investments each month. DH saves about half that amount as he earns less.

We save 3k a month. No mortgage, no child care. Some months we can only save £2,800.

I save shiny sweetie wrappers and the tears of angels. I have 1.1 million of them locked away. My retirement will be glorious

Every little helps!

Just wondering my arse

The same topic comes up every week. Completely pointless!

I am 😂 but then I have recently saddled myself with a massive mortgage.
I had a lot more disposable income when I was renting a tiny apartment but it's worth being broke for the living space

Is that savings for everything including DCs and svaing up for things like holidays? £1k a month is good when you're in the nursery stage. We are still in this stage too and we save £1k a month too which goes in to different pots as soon as we get paid, then anything left over at the end of the month we save extra. The pots the money's split into are long term savings, family savings, DCs savings and a holiday pot. We already have our emergency pot complete so don't save into that anymore. In addition to the £1k savings we also overpay our mortgage by £300 a month, so that's something to consider if you have a mortgage.

About £25 a month 😳

Just to give this thread some context for people reading it and feeling shit they aren't saving thousands per month.

BBC news recently released an article saying 1 in 10 in the UK have no savings at all, and a further 21% have savings of less than 1000.

So I think you probably know OP than in saving 1000 a month you will be saving considerably more than a lot of people are.

There's no point in threads like this without more context. Eg yes you are saving 1k a month, have you already bought a house or are you saving for a deposit? Are you actively saving because you've been promoted at work and are living in a smaller home and saving for a house move? Context is everything.

Lots of people will struggle to save much at all while paying nursery bills etc but once children are in school will be able to save more. Some people are in careers where the early salaries are low, but prospects improve dramatically later.

Others have been helped by parents with big house deposits so have smaller mortgages and thus are able to save more each month.

Everyone is just doing the best they can.

Dont anyone read this and start beating themselves up because they aren't managing to save so much. If you have more than 1000 saved you probably have more in savings than over 30% of the population.

I have quadruplets in childcare and save around £10k per month.

Does that help you?

I want your salary!

Hopefully you are putting that into an investment that actually will give you decent returns, not just a bog standard savings account.

I totally agree with you. Utterly crass and 1) could be totally made up anyway so just a trolling post intended to cause people to worry about their own situations; 2) utterly irrelevant to what other people should be doing; 3) says nothing about what they are doing with this £1k: if they are putting it into a normal savings account it's going to be worth far less than someone who invests far less but puts it into a retirement mutual fund with better rate of return/dividend payments/reinvestment etc etc.l 4) ignores the potential that people are getting brilliant "savings" via their house going up in value - but of course who knows what that is until one sells the place or tries to access the equity?

People who put monetary amounts relating to savings on sites like these tend to want a pat on the back/props OR sympathy OR to want to feel superior to others. It's all nonsense and utterly a negative exercise.

I save around 5k a month both dc at Uni

You might benefit from speaking to a financial advisor who can give you some info on how to invest in mutual funds with lower risk - for example ones that track the S&P 500 etc etc or are geared to automatically adjust risk over time with a pre-set retirement date in mind (Vanguard for example has those kinds of funds). Premium bonds are all well and good but there return on investment is shockingly low compared to what one would have gotten by investing in an S&P 500 tracker over the same period for 20 years. But it all depends on what kind of risk/reward you are comfortable accepting.

It doesn’t depend on location so much as jobs, number of kids, stage of kids, disabilities, benefits, rent/mortgage, the amount of savings you have already, what you consider savings (pension?)…

It comes across as fishing for a pat on the back or just bragging. Talking about saving £1k a month is what you do with a very small group of your friends in similar positions. On an internet message board where the majority of people with kids have nothing like that kind of money to save it’s just crass.

LOL! Exactly right - my aim is to save 3 million a month 😂That superyacht isn't going to buy itself 😂

We have twins too. Live outside of London, and can save around £1000 on a good month. We both work full time.

We do have very high outgoings – big mortgage, employ a part time nanny and have an old house that requires a lot of spending on currently.

None. But that is meaningless as Im already financially independent and have adults kids who no longer need my help

For the past year, I have been using my bank’s round up app, it rounds all purchases up to a pound and you can double or go up to 5 times the amount. Saved a thousand pounds in under a year so far. Also using Premium Bonds and reinvesting.

You might benefit from figuring out exactly what you are spending your money on, and on doing some "auto-saving" such that a dedicated amount of your paychecks goes straight into a savings/investment account (you didn't mention what kind of retirement planning you are doing - but suffice it to say that the more you put in now the less you'll have to work in future - speak to a financial advisor about that). Let's give you an example: do you spend money on coffee every day?? So two cups of bought coffee = £7. Which is over £1,800 you could be putting into a tax-free retirement savings account or paying down your mortgage. Same for buying lunch out every day.

Do an honest review of where the money goes - and see what you can cut out and what you can replace with something less expensive. Do you buy brand new clothes all the time? Buy stuff on Vinted instead. Do you have a load of subscription fees or a gym memberships that you don't really use? Cancel them - go for a bike ride or walk in the evening instead etc. etc. etc. It's incredible how much money you can save - and divert to savings - if you do a bit of pondering and also remove potential money from the "spending" pot.

Completely agree with @Caligirl80 and you are not going to get many people posting to say they save £10 per month….

Aiming to save? I always aimed to save quite a lot, reality was somewhat different