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Original poster

How much do you have in your savings account?

417 replies

Eurydice84 · 10/01/2023 15:36

Just that, really. I am trying to save up for some big expenses (house renovations) but I am worried about blowing up the majority of my savings and starting from scratch again.

OP posts:
Creatingusernamesismygame · 10/01/2023 20:02

We’ve bought out forever house and moved in. No major works/renovations to do. Bought 2 newish cars, so hopefully don’t need to spend money on cars for at least 4-5 years.
now we’ve got approx 25k left. However, we aren’t young or new on the property ladder etc. Both in early 40s, so had 15-20 years to save.

Season0fTheWitch · 10/01/2023 20:02

18 months salary in our joint account, I have my own savings account which has about 9k in it (in case of emergency). We invest in property and need back-ups for everything

Hoplesscynic · 10/01/2023 20:03

WeAreBorg · 10/01/2023 19:23

Not sure if you know, but you’ve responded to this ridiculous thread x

Show quote history

By responding I meant with details about their money and circumstances.

Interested in this thread?

Then you might like threads about these subjects:

General money Savings & investments
MintyPrincess · 10/01/2023 20:06

35k

WaddleAway · 10/01/2023 20:07

Hoplesscynic · 10/01/2023 20:03

By responding I meant with details about their money and circumstances.

Show quote history

So what if people reply though? It’s an anonymous forum, and much of it probably isn’t true 🤷🏻‍♀️. Not like the information can be used against them in any way.

madamovaries · 10/01/2023 20:08

12k. Think I read advice somewhere to have 3 months salary. Tbh have been scrounging and paying down my mortgage because ours ends in October and am worried about how much higher interest rates on mortgages are still going to be (thanks Liz truss and the conservatives!)

QueenConsort · 10/01/2023 20:08

I have about 45k. Single mum

Mumof3girlsandaboy · 10/01/2023 20:09

MrNook · 10/01/2023 15:50

£1 that I had to deposit to open the account

Snap

Melmi256 · 10/01/2023 20:11

Across various accounts/shares about 90k

Heatherbell1978 · 10/01/2023 20:14

I have £20k in Premium Bonds which I saved before we were married. We don't really have a savings pot as such as we prefer to over-pay our mortgage or top up pension if we had 'spare money'. I have a separate account for holidays and bigger things to save for but as the money doesn't stick long, I'm not sure that counts as savings.

tableanadchairs · 10/01/2023 20:15

£350k due to inheritances and savings.
However we are eating into it giving to DC and DGC in annual lump sums to avoid inheritance tax
we are very fortunate to be able to do this

Greenalien1 · 10/01/2023 20:16

£400 and I borrow most of it each month and pay the same back each month too so its not much of a savings really!

Lapland123 · 10/01/2023 20:17

Mortgaged until ages about 70 so I’m not sure anything in the account counts as ‘savings’ 🙄

RRBB1920 · 10/01/2023 20:17

About 5k 3 months salaryish

NeverDropYourMooncup · 10/01/2023 20:18

Just under £5,000. How?

Less food.
No takeaway food.
Almost no pre-prepared food.
No meals out.
No drinks other than tea, coffee or water.
No holidays.
No social life.
Paying off a loan.
Working absolutely stupid levels of overtime and giving up annual leave to work even more.
No access to dental treatment due to the practise deciding to bump everybody who wasn't private off their list if they hadn't had a checkup within one month of lockdown bans being lifted.
Not getting my eyes tested because I'd only need new glasses (lots of squinting and changing distance to try and read things).

First time I've ever had more than £220 in the bank.

CurlsandCurves · 10/01/2023 20:20

6 months worth of our outgoings. My income is a bit up and down right now but later on this year I will hopefully add to it a bit each month. Very happy I’ve managed to get what I’ve got in place though as I don’t earn much and it’s taken a long time.

mondaytosunday · 10/01/2023 20:20

Just over £10k, of which most will be going to the tax man end of the month.

BunchHarman · 10/01/2023 20:20

2.5x my annual take home.

Untitledsquatboulder · 10/01/2023 20:21

60k in the "dont touch til retirement" one
48k in the long-term one (contribution to kids uni living expenses x2)
8k in the holiday/household/car breakdown one

We are about 10 years from retirement though. 10 years ago we had 20k and spent it all on a new kitchen extension.
20 years ago I had 3k.

rollitagain · 10/01/2023 20:24

£20k but have a Christmas visa bill waiting to be paid!

runlittlemonster · 10/01/2023 20:31

Great thread, something I often wonder about - what a ‘normal’ or ‘sensible’ amount to have in your savings is.

I have just put 5k into in premium bonds, and have 3k left in my Isa - but 2k of that will be paid to hmrc at the end of the month. As someone with a very chaotic early life and 20’s, I’ve only really taken savings seriously in the last few years. During the pandemic working every hour under the sun with no childcare costs it was up to 10k at one point, but that’s gone on various things, and underestimating how much my SE tax would be.

Its growing a lot slower now but I would like it to grow by around 2k a year.

CornishGem1975 · 10/01/2023 20:32

About £20k. My DH knows about half of it. The other is my 'just in case' emergency fund.

CornishGem1975 · 10/01/2023 20:33

NeverDropYourMooncup · 10/01/2023 20:18

Just under £5,000. How?

Less food.
No takeaway food.
Almost no pre-prepared food.
No meals out.
No drinks other than tea, coffee or water.
No holidays.
No social life.
Paying off a loan.
Working absolutely stupid levels of overtime and giving up annual leave to work even more.
No access to dental treatment due to the practise deciding to bump everybody who wasn't private off their list if they hadn't had a checkup within one month of lockdown bans being lifted.
Not getting my eyes tested because I'd only need new glasses (lots of squinting and changing distance to try and read things).

First time I've ever had more than £220 in the bank.

Good lord, that sounds miserable. I think I'd rather be poor.

RedBea · 10/01/2023 20:34

About 3k did have 6k but life expenses have evaporated it. Have been interested in premium bonds but don’t know where to start. Any suggestions?

still saving to buy a house at this rate all I’ll be able to afford is a card board box outside Poundland 😂

Namechangethisonetime · 10/01/2023 20:40

Mm… nothing saved in my personal acc, just over 1k in a joint acc that’s solely for saving for upgrades when we move house at the start of next year. Dh has a little bit tucked away. However, we have a lot of equity currently in our house, and high credit available if required. So I’m not too concerned at the moment