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?

Between my DH and I we probably save about £1kish? That's personal savings and joint savings. Might be a bit higher if you include savings for our DD and mortgage overpayment, which is another £200.

We appreciate we are in a very fortunate position. Savings should hopefully go up once 30 hours childcare kicks in but that won't be until April 2023.

Ooooh, finally a thread to share my private pride ☺️ I put 8% of gross into my pension, save £1000 into a pot for long term investments and put £200 into a holiday/Xmas/repairs fund. After bills, which are pretty substantial, spending money is a bit tight but in another year my student loan will be paid off!!! I can’t wait to get a decent haircut with the first month of SL money in my pocket!

£100 a month...better than nothing 🤷‍♀️

About 20% of my monthly wage plus overpay the mortgage too. On a similar salary. But no kids and don’t share finances with partner. Have enough disposable to enjoy some fun too.

I'm on 30,000
Husband on 35,000
We save £600 each month

*£600 between us!

Oh also put into an NHS pension too.

Earn just under 50k, not sure what I put into my pension (company default) but then save anywhere from 5-800 a month depending on how busy I am, during lockdown it was more 8-900 and now more often it's the 500 end as I can actually do things.

My partner earns around £19k, we're on tax credits & HB. We use Chip to save money, normally between £30-£100 per month. It pays for Christmas and birthdays so it's a big help. Before we used chip, we didn't really save anything. I didn't think we could so this has been a big help.

Savings? If only.....husband on £400 weekly. No mortgage (paid) but all the other stuff. I'm not working at the moment, recovering from a stroke, but will certainly be going back to work (I'm 62) as soon as I can find something clerical part-time.

£2200 per month in pension (with employer contribution)
£750 p/m daughters junior stocks and shares ISA - and then invest
£1600 stocks and shares ISA and then invest
£500 Bitcoin

I also make 10% overpayment on the mortgage.

I don’t save into my regular savings account anymore as the interest rates are so dire and have a fall back amount in there should something go tits up.

I transfer £1650 in varying amounts into our different savings pots on payday, and also scoop anything that's left in the current account on the day before payday into savings. I earn £46k, DP £14k.

Op thanks for this thread. We didn't save at all as have only just clawed our way out of debt (just started work last year) and ds1 has 4 years to college so need to figure out budgeting for school and Christmas and saving for him

Anyone else just feel depressed and inadequate on these threads now

This^ doesn't include pensions contributions.

130k joint income, 15/22% into pensions, and we save about 3.5/4K per month.

One DS in nursery.

@Alysskea that's typical for these type of threads! I swear some people make it up! Don't ever feel inadequate, by the time mortgage / rent paid up it can be a large old chunk of any salary

me too

@Alysskea

Anyone else just feel depressed and inadequate on these threads now

Yes

@MonicaGellerBing
I save 1,000,000 per month and my take home pay is 3,000,000.

🙄

We take home £13k a month and save £3.5k, so just over 25%

3k income a month.

We save £50 each into help to save. £15 into a prize saver. About to start doing £25 into kids premium bonds. Also save some for Christmas

@Alysskea

Anyone else just feel depressed and inadequate on these threads now

Don’t.

Until a few years ago we had zero savings. Try and save £5 a month and go from there.

@TakeMeToKernow

Ooooh, finally a thread to share my private pride ☺️ I put 8% of gross into my pension, save £1000 into a pot for long term investments and put £200 into a holiday/Xmas/repairs fund. After bills, which are pretty substantial, spending money is a bit tight but in another year my student loan will be paid off!!! I can’t wait to get a decent haircut with the first month of SL money in my pocket!

That's awesome! Paying off student loans is such a huge achievement.

People feeling depressed by my high savings rate can be consoled by the fact that I am currently repaying both a plan 2 and a postgrad student loan and the plan 2 one won't be repaid before it's written off, pretty sure I'm not even paying anything off the principal.

About 15% of income but our childcare costs are still high and we've just had a new kitchen which we went over budget on so we're paying back a large 0% credit card debt!

It's usually close to 25-30%.