To be shocked when adults have absolutely no savings at all?

I am a single parent to 2 teens with no maintenance. I work full time and am lucky enough to have a spare room that I rent out. We just about manage on that. Everything in my house is falling apart and I live in fear of my car breaking down or needing a new boiler. There are people in way worse situations than I am.

I don’t understand why you don’t understand that not having a ‘nice little buffer’ or savings is absolutely not a choice in pretty much every situation!
I can’t believe someone would be so far removed from society to even question this in their own head let alone start a thread on an online forum about it!

I think you need to consider that many people might quite simply live a different life to yours. Maybe they don’t earn that much and are just getting by. Maybe they have more expenses than you. Maybe they prioritise living in the now rather than saving for whatever reason. Maybe life circumstances changed- had a baby, moved house, divorce, elderly parents, cost of living increase not matched by salaries, health issues….I mean the list is endless. I’m sure you didn’t mean it but your post did sound judgmental of those that don't think or live their lives like you.

This is exactly what happened to me.

I had a small amount of savings (much less than 10k!) until my son became seriously ill and I soon found out how expensive it is to have a child in hospital, it was all gone very quickly. I then also lost my job on top of everything.

Now I'm on benefits, can't work due to my son's disability caused by his illness and don't have anything spare for savings.

I was thinking that we have more like £100k but I’m not even vaguely shocked lots of people have no savings because earnings and costs for individuals differ wildly.

Or maybe not everyone is able to get a steady job at 20 and stay in steady employment thereafter. Especially with the economy in the state it’s in. Ever stopped to consider that?

I am working, earning and saving myself, but at other times in my life it hasn’t been possible because there has been literally nothing left to save at the end of the month. And there have been times when I have claimed benefits because I have been entitled to them and had no alternative, other than to starve. Nothing to do with not having a saving mentality or expecting the state to pick up the tab instead. And many, many people have been/are in the same position. You sound very naive, not to mention judgemental.

Where do you think people would get their savings buffer from?

@ThisJollyReader Could I suggest that you work as a volunteer at a food bank, debt advice service, soup kitchen or similar project for a few days each month

Listening to the stories of the people using these services will give you an insight which you are sadly lacking

But, the sad fact remains, there will be a huge group of people who you won't meet who are struggling to pay their rent and feed their families. These people may not need the organisations I've mentioned, but any extra expense (new washing machine, car repairs, kids needing new shoes) could easily tip them over the edge

When I first started attending my church 12 years ago we didn't have very much in the way of support for the local community. Nowadays we have a food bank twice a week, holiday clubs with meals for families during the summer, school uniform exchange, sessions to help the unemployed apply for jobs etc. The number of users of these services is increasing every year

If, like me, you are fortunate enough to have some savings, could I suggest that you use some of your good fortune to support a service or charity which helps those who don't have the financial resources we have?

Are you a bit thick? You honestly cannot understand how people don't have savings?

You realise a lot of people would be worried about only having £10k in savings. It's all relative isn't it.

I think you’re being ridiculous. Until I took my pension lump sum five years ago, and was able to clear my debts, I had never had any savings since I was 16. I always had money owing on my credit cards and various loans when I was younger. Maybe I could have spent less, but until we had our daughter, we travelled extensively, enjoyed ourselves, and spent years with a large mortgsge at 15% interest and higher. Then I was a stay at home mother for seven years. It never bothered me not having savings and being in debt was a way of life, as it is for many people. I don’t know many people who have much in the way of savings, but then I don’t know anyone in real life who uses Mumsnet.

Hi OP, I am pleased that you have 10k savings but your post demonstrates complete lack of understanding or insight into the reality of people's lives.
I know people(and have been there) who live week to week /on credit cards /using overdraft etc to get by. They are not living extravagant lives beyond their means, more just dealing with the responsibility of their lives.
I was working more than full time and my boiler broke down. The insurance company condemned it and I had to get a bank loan to get a new one.
Please reflect on your post and use it as an opportunity to appreciate your good fortune

What about people who don’t earn enough money to save? Are they deplorable? Some day, through unforeseen circumstances, you could be one of those people and your savings will last for a few months at best. Then what? Will you become deplorable too?

School hols of course… I am flabbbergasted at ops paltry 10k….
that’ll cover month or 2 just won’t it @ThisJollyReader ?

I don't have any savings, I freely admit that I'm not the best with money but for me a 'splurge' has usually been spending a bit in the second hand shops or Primark, it's not like I've been on lavish holidays all my life. There is very little left over after all bills, debts paid and expenses covered. I simply don't earn enough to keep up with the cost of living and would prefer my little treats - few bits at the charity shop, £15 at Primark once a month maybe, rather than saving this small amount, because little treats help keep me motivated in a draining, full time job.

I have a direct debit to two savings accounts. Currently I have about 60 pounds in each. I've done postgraduate education, struggled to find work, stayed home till my child went to preschool because my wage wouldn't cover childcare. Now on maternity leave and I have to dip into "savings" every time rent's due before husband's paycheck, kid needs new uniform, need to buy things for new baby, etc., etc. I was raised in poverty and frankly I'm grateful that we always have food on the table and can keep the lights and heat on.
Try having some empathy.

My DD had savings. Then her roof needed replacing and it was so expensive. My sister had savings then the engine on her car blew up and she needed another car to get to work. My DS had savings and then he needed a new boiler. Many people save for emergencies then an emergency happens and they have to spend their savings and then some goes on a credit card too. Then they work to repay credit card then they start to rebuild savings......but then another life event strikes. Be glad you have a better buffer.

OP I agree with you but it is not a popular opinion. When I started my first job at 20, I saved £50 a month into a building society account - it soon mounted up and by 25 I had about £10K in savings. Unfortunately the ethic to save has disappeared (after all, the state will give us benefits, won't they, type of thinking). Deplorable.

No because I don't know what savings other people have as it's none of my business.

I don't go around discussing these things with people. Debt, savings, benefits, inheritance, wages etc. There's no need.

It's not especially interesting as a conversation topic and can lead to judgement and jealousy among some people. Like you there OP.

Good grief OP, I'm sure absolutely EVERYONE would love to have the security of a few grand at least saved for a rainy day!! Who wouldn't?

But can you really not imagine scenarios where that just can't happen, for innumerable reasons beyond people's control?

If you can - what was the point of this thread unless to boast or goad?

I was in my 50s before I was able to focus on the importance of savings. Until then, it was a real grind. Now that life is more comfortable, I sometimes think back to the days when my account was already in the red on the day I was paid. It wasn't for want of trying - I cycled everywhere, for example, and worked hard.

Back then, I was trapped by shitty jobs and being a people pleaser. I'd been brought up to think that if you go all out to show how good you are at what you do, someone will recognise it and reward you. Eventually I learned that what actually happens is that everyone will get you to do their job for them, and patronise you, and pay you a pittance.

Going freelance boosted everything. But I'm proud of the resourcefulness I learned during those tough times, and feel profoundly grateful for the financial ease I now enjoy.

Some people have savings some dont.
I think you have to walk in someone elses shoes to realise that not everyone can save even a tenner a week, much less have a few grand as a buffer.

I genuinely don't understand what you can't fathom. I have a two income household. I earn the most in my whole working class family. I'm fortunate enough to have a low mortgage. After shared bills and weekly shop yesterday I have 200 to last the month to pay phone bill and travel twice a week to work. Your post is genuinely upsetting to people just trying to survive. All my family and friends are in a less fortunate position and my heart goes out to them. You are severely out of touch.

You can’t pay the rent with porridge.

are you kidding OP? how are people on £18k and no benefits like i was until recently supposed to save?

i served the public most of my life. tried to be a good person. help others. give a little to charity (when i couldnt afford it) as there’s always someone worse off than oneself.

i literally had nothing spare. dont drink smoke do drugs or gamble. live quietly. got a tooth out rather than a crown as it was over £200 cheaper. sold all my jewellery for scrap value the next time i needed dental.

same house and no holidays for decades. drove a banger as the buses here are awful. but i did pay into a pension. so at least ive got that. but buggerall else.

savings. huh. fucking joke. maybe youre needing to think of others and give more regularly to charity instead of keeping it all to yourself if you’ve got so much? there’s always others who need help. you could afford to do more.

I find it shocking when people are goady show offs that can’t see beyond the end of their own nose but here we are.