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?

This thread is very refreshing for mumsnet, usually you only get the £200k pa crew chipping in with savings of 5k a month!! Nice to see some more average financial situations!

Salary around £53k and put £400 pcm into pension and about £250 savings. DH earns around £69k and saves less than me.

We save £1,500 per month - 1/3 of our monthly income.

I have three kids, earn about 40k and save £500 a month towards my house refurb.

@SandysMam haha I'll stay quiet then

Monthly household income is circa £3500 net.

We save £250 pm into a long term sharesave scheme and £750 pm into shorter term/catch all savings which fluctuates a lot - it's used for holidays, Xmas, new car, home improvements...some is then converted to long term savings if/when the balance creeps up.

£50 a month into my help to save and £5pw into my son’s savings account but my resolution is to try and save an extra £50 per month into my regular saver this year

£1,200 a month, but I don't have kids. I'm pretty frugal anyway, aside from an unhealthy addiction to fancy tea

Save and invest about 20%-30% of our income. Our joint salary is below average. We are frugal.

From net joint income (about £185k) we put £2000 into savings immediately. It’s about 25% of take home. We also save in advance for specific expenses such as train tickets.

Actually , I’ve got that wrong. We save 30% (mainly for specific things) and invest a further 10% (for long term) so more like 40% total. Have had periods of saving nothing and getting deep into debt when we earned more, and scraping by. It feels great when you start to see your money grow.

From net joint income (about £185k) we put £2000 into savings immediately. It’s about 25% of take home.

This maths doesn’t work. Do you mean £185k gross?

About £42k I save £500 a month

My salary is £25k and I save £300, it used to be £600 before I had childcare costs. DH is about the same. That's after bills, hobbies and a few treats like takeaways and days out. We live in a cheap-ish area though.

£200 per month, joint income around 90k but have childcare costs and a moderate mortgage so it is not as much as it could be

Both middle earners £3700 combined ...though hubby's wages much higher than mine. Currently working on finding a better job.

We save £100 into PB for DD monthly, £150 (sometimes more) into PB for family and £40 into another account. 10% of my salary goes into pension & we overpay by 10% monthly on the mortgage. Any wins in PB is reinvested. I really want to review every expense this year to try and save more.

I also have a Saturday job which I pay into a separate account for holidays we are both from Europe so need to visit family from time to time.

About 30% of net salary and then another 5% pension contributions

Gross joint income 40k but a lot lot less net after tax, pension and huge (to me) childcare bills. Other fixed bills total 1k pcm. We save £50 each, so £100 out of the joint income into the government help to save accounts which we got when I was a student and on universal credit.

I considered doing the 1p savings challenge but didn't get round to it yet.

I don't work, DH does, we save approx 40% of his salary a month. We were saving just over 50%, but we've recently bought a house, so have a mortgage to pay now.

Just listed it out, thinking we are not very good at saving, but if you include mortgage overpayments we are saving c.25% of our joint income each month. We both have public sector pensions so our next priority is to start buying AVCs overpay in the new financial year. Neither of us are massive earners so having us both working full time really helps us to save (even though I hate it!).

Should’ve said 30% plus 8% (of gross) into pension (employer puts 10%)

I’m trying to save this year- basically what I can. I am a single parent who earns 30k and have 1 dependent and 1 ds who graduated uni last year and has a just above minimum wage job. Between rent, car payment, bills which are all steeply increasing I’m not sure exactly how much I can save. But I’ve stopped takeaways and non essential purchases so hope I can save at least something (she says with fingers crossed!)

We save £500 - £750 a month which works out about 10% - 12.5% of post tax income. Will go down to 0 when DS starts nursery and go back up when DD starts school. Plus we both get pretty good yearly bonuses and those go into the pot too.

For anyone on a lower income struggling to save a tip I've picked up from MN is checking my bank everyday for change, so if my balance is £125.72 then I will move the 72p into my savings account. It's such a small amount everyday that you don't notice it but it can add up to £20ish by the end of the month

@thetaleunfolds

I put money aside for other spending too, £200 a month into the birthday and Christmas account and £25 into my car account to cover MOt, service, tyres etc

I do this too but consider it budgeting rather than saving. I budget £100 a month for Christmas and birthdays and £35 for car costs.