We had children quite young, live in a small house with a huge mortgage in a nice area (35 years left int he mortgage) Both earn ok, I’m part time and happy with my hours. Household income around £80k combined.
We eat out, we go on decent summer holidays, we take trips out, our kids have a decent life. But I’m becoming aware we’re not really saving anything. We wouldn’t be able to move and get a mortgage on a bigger house, we don’t have nice cars or put money away without a purpose for it.
Is this reckless? Should we live more frugally to get a bigger nest egg?
My mum thinks we should. Problem is we’d need an extra £100k to move to a better house in this area and that would probably take 12 years to save if we completely cut back, by then house prices could be even higher and it would take longer. After that, the kids would be thinking about leaving home anyway!
Interested in what the mumsnet wisdom thinks?