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AIBU?

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As a household how much are people managing to save?

32 replies

Lostsoul121 · 19/05/2025 09:32

With kids? Of course it depends on location (outside or within London etc), but me and DH with young twins are aiming to save around £1000 a month after all bills and personal expense budgets. We live in the Midlands.
I’ll be working part time and he works FT.

I know to even save at all is good in this current environment. I was wondering what other households with kids try to save if they can.

OP posts:
Caligirl80 · 19/05/2025 10:33

This is a meaningless question: people tend to have these conversations either to feel superior to others, or to make others feel bad. It's like those "how did you think you did in that exam" conversations that kids have at school: one person will always come out of that conversation feeling worse. As such it's a pretty pointless conversation to be having. If you want advice on the amount you need to be saving so you can retire with a decent amount of money then go see a financial advisor etc - but, again, that's going to be very different for each person and dependent on a whole bunch of factors.

JHound · 19/05/2025 10:26

I live in a household of one, and put away about -£600 a month in London.

That saddens me as I want my savings rate to be much higher - when I was a lodger it was 23%, and that included partying and travelling.

Now it’s much smaller but living alone is priceless.

Also those savings are just for my house, car and vex money fund. Things like holidays I save separately and don’t include in this total. And the tiny amount I set aside for investing is counted separately too.

Campingg · 19/05/2025 09:57

Have two teens and 1 in nursery part time. We currently save about 1k a month, but that's going towards things we want to buy.
Next year once youngest is in school, we will be able to save about 2k, maybe a bit more, a month.

MereNoelle · 19/05/2025 09:54

We save £2k per month. But we have no childcare costs anymore and have a low mortgage relative to our household income.

lifeonthelane · 19/05/2025 09:53

Husband and I both work professional, middle income jobs (FT) and have 2 school age children. We have a reasonable amount of equity in our house and make a small overpayment to our mortgage each month, but we can't save anything. We do try, we'll have maybe 3 months where we save a decent amount, then we'll have to dip into it for a big expense. We do have one small car loan (300pm), we don't have foreign holidays or go out for meals etc. We're fine, we're happy and have a comfortable life with everything we need. But there is rarely money left to save. I think £1000 a month is excellent if you can manage it.

Bjorkdidit · 19/05/2025 09:52

Agree it's so variable that it's a meaningless question.

Some people won't have enough to cover essentials at a very basic level.

Some people will prioritise saving over nicer essentials and/or optional extras

Some people will spend all their money and say they cannot save, which may or may not be true.

Some people will have enough to live where they like and buy whatever they like and still be able to save each month.

If you're wanting people to tell you how well you're doing to be able to save so much at an expensive life stage then well done, you're doing great.

MidnightPatrol · 19/05/2025 09:46

I mean, it’s all so variable - household income, current outgoings, existing savings, life goals etc.

With young twins (2x sets of nursery fees?), £1000 pcm is pretty massive.

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