How much do you save per month?

[CaveWoman1]

Be it 0 or £100’s!! And what is your salary? I’ve made a New Year’s resolution to try & save £10 per month. It’s not much I know but it’s a start. I earn £23,300 on a 4 day week. I’ve got a mortgage, & the rest goes on food/bills/petrol etc.

Just curious as to what others are saving in relation to their salaries?

We save about 20-40% of our monthly income. I'm not a super high earner but my DH is so we have a higher than average household income. Tbh we can be terribly frivolous, so some months much lower than others!

I earn around £26k part-time and have a standing order for £200/month to go into savings, plus I put in another couple hundred at least later in the month, usually (not in December!!).

My husband earns slightly more, and we obviously both contribute to expenses. Much trickier to save if you're living on your own, I think.

About 30% of our joint income

Joint income around 85k save £700-£1000 a month that will go up when nursery bills stop

Single teacher parent with teenagers....I input a fair bit into my pension though

£250 a month plus £150 into pension

Oops... salary around 40k

@CaveWoman1

Be it 0 or £100’s!! And what is your salary? I’ve made a New Year’s resolution to try & save £10 per month. It’s not much I know but it’s a start. I earn £23,300 on a 4 day week. I’ve got a mortgage, & the rest goes on food/bills/petrol etc.

Just curious as to what others are saving in relation to their salaries?

Trying to save £10 a month also 😊 lots of bills to pay, trying to clear some debt and on an average salary

I’m on 30k (single parent) and save £50 into Help to Save and the child benefit (approx £120) into a separate account but I dip into that for eg Christmas, big school trips etc

I am not in the uk. I have about 2k after tax. I save

• 200 private pension
• 200 general saving
• 20 x2 for dcs confirmation (its a big thing here)
• 150 for dcs boarding school (also a thing)

I read somewhere that youre supposed to spend
50 % on necessities
30 % on whatever
20 % saving

Oh and a £100 pension top up but I may need to reduce that as it’s all getting a bit tight

Can’t afford to save anything at the moment. Dh earns £22.5k and I’m unable to work due to disability and we also have a disabled child.

Take home monthly
6200
Bills,food etc usually take up about 1500-1700
So 6200 -1500 = 4700 left

We save about 3k per month at a minimum

Since the start of the pandemic I have been saving around £1k a month. DP has also been saving at least as much. That’s a lot of days out, trips to sporting events, restaurant meals, nights out at the theatre, weekends away and amazing holidays which never happened.

Joint income 1 state pension, what's savings?

£100 a month into the HMRC help to save scheme (£50 each), HMRC give you a 50% bonus after 2 and 4 years. You need to get working tax credit to be eligible, which we briefly were last year (not any more). Well worth it!
Also save extra when I can, into our LISA (25% government bonus on that) towards house deposit. When the HMRC savings pay out I will put it in the LISA and get free money on top of my free money!
Pension for me is 9.3% of my pay, DH is self employed and doesn't have workplace one so I save £50 a month into his Nest one, which I will increase when he earns more.
I earn around £30k. 3 DCs and a DH who has earned barely anything for 4 years running a business and off sick for last 8 months.

Nothing but actually £10 would be easily done really. I do have some debt, which I am VERY KEEN to get sorted. I'm a single parent, going through divorce, work part time on 14K. Mortgage to pay.

Now nursery bills have finished, I've completed my masters and gone self employed I can (from this month) save approx £2,600. Squirrelling to try and scrape together a house deposit as a single mum.

I'm freelance and in an unstable industry so it really depends. Some months I manage to save £700, others I need to dip £700 into savings and I'm back to square 1. I've gone years without saving one penny. Coping with emergencies was horrible.

I now do my best to save 10% of some 'regular' income I get each month (the equivalent of £100), but it's never a given due to how unstable work patterns are.

Only 10% on savings but another 20% goes towards overpaying the mortgage so I feel ok about it!

@StrictlyAFemaleFemale

I am not in the uk. I have about 2k after tax. I save

• 200 private pension
• 200 general saving
• 20 x2 for dcs confirmation (its a big thing here)
• 150 for dcs boarding school (also a thing)

I read somewhere that youre supposed to spend
50 % on necessities
30 % on whatever
20 % saving

That's a lovely idea, but necessities are 80% of my pay!

Trying to save £200 a month at the moment to raise a house deposit. We owe money though so it's a struggle

I’m on a bit under 40k and save approx £1000 p/m but DC are independent adults, and I’m somewhat frugal on a day to day basis. Although I did spend a fair bit during lockdown on home improvements etc and in normal times I take a few holidays a year. So that cuts my savings down.

I save £250 pm into an annual saver, and £90 into a ‘bill’ pot for those bills that crop up once a year, like car insurance, mot, etc.
Usually I’d try to save a bit more but we moved house a few months ago and it’s been a costly few months! I earn around £30k.

Forgot to add I do pay into a pension. Abd actually, I slightly overpay into my mortgage/bill account- this covers house insurance and sone heating oil. Not really saving as such but does help when the time comes.

This year I'd really like to set aside money each month towards Christmas and birthdays