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Original poster

Mid-20s people: how much savings do you have in total?

13 replies

Lottaberry · 18/04/2019 20:30

Mid-20s people: how much savings do you have in total? & Have you bought a house/flat already or you're renting?

One of those questions you wouldn't ask someone in person but hopefully find under the relative anonymity of the forum.

I know that everyone saves at different rates but would be nice to hear your situations :)

OP posts:

Beanybye · 18/04/2019 20:35

I’m mid 30’s but not much has changed since my mid twenties! We’ve got £5k in shares, £1k in an emergency account and £8k in DS’s account. We’re ploughing all our spare money into paying off the mortgage so once that’s done we can concentrate (hopefully!) on increasing our savings. We do both have pensions too.

Capybaras · 18/04/2019 21:05

Me and DH are 29 (so late 20s but thought I'd answer!) and have around 7k in savings between us. We're expecting our first child and would like to be saving more but baby stuff is expensive! We have no debts (apart from student loan) and currently saving £300 a month between us. We're on our second house, which we put a £60k deposit on, first house we completely gutted and renovated so made a decent sum on it hence the deposit!
We're realistic that with baby coming soon and me going on mat leave our savings will deplete but happy that we've got enough to cover an emergency at the moment!

AvocadosBeforeMortgages · 18/04/2019 21:15

Single, no kids (except the four legged one) and renting.

C. £29k in savings. No debts except a student loan.

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PodgeBod · 18/04/2019 22:04

27, no savings, renting

Original poster

Lottaberry · 19/04/2019 16:21

Thanks everyone so far :)

OP posts:

Floralnomad · 19/04/2019 16:29

My ds is 26 , lives at my sisters at the moment for work and has about 70k in various savings accounts , no debts ( or student loan ) .

canonlyhopexo · 19/04/2019 16:29

Had a mortgage for 3 years. £1700 in savings which we are still adding to each month to go towards my maternity leave that is starting mid summer. No other form of savings. No debts other than mortgage (which I don't really see as debt)

tedx · 19/04/2019 16:32

How the heck did she manage that? Floralnomad

Genuine question btw and that's amazing at such a young age.

Aimily · 19/04/2019 16:35

Fair question tbh, it's nice to be anomously nosey 😂
Me and dp are both 28, so more late than mid 20s but thought I'd share as pp.
We have about £2k in savings at present, we spent most our savings in September buying a new car, and started to build savings back up, but have started to spend them again getting ready for first born, due in July.
We also have a mortgage, bought the house 4 years ago.

snoutandab0ut · 19/04/2019 16:36

29, single, renting (in london, have shared with friends for last 5 years but about to move into a flat on my own). Currently have £16k in savings, did have 20k but due to paying off a credit card and the costs of moving it’s gone down. I used to save 1k per month but I won’t be able to do that now I’m renting alone. Looking into shared ownership to buy as it seems the only viable route in London.

ninnypoo · 19/04/2019 16:57

24, renting in London.
1500 in accessible savings, about 2000 in help to buy ISA (not actually sure how much!)

AwkwardPaws27 · 19/04/2019 17:13

At 25 I had £9k in the bank, saved by then DP (now DH) and I housesharing rather than renting a flat. It all went on a deposit for our first flat (zone 6, £153k, in 2014), so at 25 years and two months I had about £20 in my savings account
The interest rate was quite high as we had a 94% mortgage, so we didn't really save in the first two years, although we did have some UK camping holidays and do some decorating and minor improvements to the flat. Once we were able to remortgage after two years with a better LTV we were able to put about £300 aside each month.
We bought a house in 2017, I'm now 29, I reckon it will take us another two years to finish the house (needs new windows, kitchen, bathroom and full redecoration - we've already replaced the roof and boiler, among other things).
We are still driving around in our ancient Clio that we bought for £1300 in 2012, and we've not had lots of holidays abroad etc (camped in Europe a couple of times) in order to do the work on the house.

Floralnomad · 19/04/2019 17:30

tedx , is a very good saver , had a pt retail job from 17 which he kept throughout uni . We paid his uni fees , he paid his post grad fees ( teaching) from his bursary . We’ve never asked for rent , nor does my dsis as it’s just the way we do things . He has no interest in living alone and can’t house share due to his OCD /ASD . He has nice holidays / car and is very generous with gifts but doesn’t drink / smoke so it’s amazing how quickly it can accumulate.

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