How much do you have in your personal savings? Does it feel enough to you?

[TabithaTwitchel]

We have joint savings which are decent but in my own savings I have just 3 grand and I just can't add any more to it really right now.

I think I'd feel more comfortable with 10k and it made me wonder what you would consider a decent amount that was just for you?

€16k in Post Office
€8k in Credit Union

I save €200 a month in a separate account for Christmas.

In June I will have €1800 a month extra to just save as I have a rental property that will be paid for.

Savings are a bit meaningless without context. Some save by overpaying a mortgage or put into pension. I would have a lot more ‘savings’ if I wasn’t saving overall by doing those two things.

What for?? Genuine question.

Yes I have enough for me to feel comfortable. Thanks for asking.

I have a government Help2Save account, which you can open if you're on benefits and working. If you're in the same situation, I would open one.

I've saved £900, the government will give me £450 on top of that.

Details here:

https://www.moneyhelper.org.uk/en/savings/types-of-savings/help-to-save-explained

I also have around £1500 saved. There was more, but I've had to pay out for work to be done on the house. So it's dwindled. I don't feel like its enough, but it's what I have at the moment.

I'm a single parent, I work and have 2 teens.

I have £1000 in my easy access and £700 in a LISA

I’m down to 1k. I’ve just spent all of my savings on a business project/renovation. I think by the time it’s completed I’ll have nothing left.
Worries me slightly, the car has cost me £500 alone on repairs this month, which I hadn’t allowed for.

Too add. I started with 7k of savings and I’ve also borrowed 12.5k for said project. So I’m now also in debt.

About 19k in an ISA that I don't touch and 7k easy access for unexpected costs/ emergencies. Also overpay mortgage slightly. nowhere near enough as I'd love to retire early but it's not going to happen any time soon.

£40 thanks to Starling's round up to a pound thing 😀That will go soon.

For me only? A few hundred as I save up my “spending money” to buy seasonal clothes, so it’ll go down to zero shortly when it’s warm enough to buy myself some new sandals and a couple of dresses!

But DH and I don’t have large separate amounts. I feel like it’s kind of pointless, as it would all have to be declared if we divorced! We do hold some in our own names, to maximise interest rates etc. and so we’d each have instant access to money if the other died.

All our money is joint so majority is in joint savings. We each get equal spending money per month and any money from bank switches etc to spend as we wish. I have just under £1k in my own account as I don't have anything specific I want to spend it on yet.

Oh I do have £750 in a LISA that I can't touch until I'm 60 so not much use now.

If you had asked me 20 years ago, it would have been less than zero - overdrawn on our current account and zero savings. I won't say how much i have because saving are relative to age and location. We've worked hard and been thrifty and are now 15 years from retirement. We've got enough to support the children through uni and pay off our business's bills if it fails, with a year's wage for one of us left over. Its a decent amount in savings, but its what we think of a rainy day money. If you asked me to spend £4k on a family holiday abroad I would say I say it was too expensive.

More than 5% deposit but less than 10% deposit on a flat, hoping to get there by the end of this year.

roughly the equivalent of a years gross salary. Some will be used to pay the mortgage off at the end of the fixed term (as well as over paying along the way) and the rest for house renovations and maybe even a move somewhere down the line. I’m also conscious that the car is 8 years old. The state of my savings account was about the only good thing to come out of lockdown as there was nothing to spend on!!

Lots, 6 years gross salary but I'm approaching wanting to retire!

I don't have personal savings, me and dh put all our money together. We have 10k in savings.

Up until 3 years ago, we literally had nothing left at the end of the month for years and years we lived like that so had no savings at all. Because of that I'd ideally like to keep saving just incase. Know how fortunate we are to be able to save

£0.

When you ask "what for" do you mean what is the money for now, or what did I put it away for?

@anareen

say what??

its a fairly anonymous website.

even if someone knew who you were, so what?

@TabithaTwitchel I think it depends on a lot of things.

I have a chunk of money in savings. But I am being made redundant (will not pay out much) and I'm 55. My job isn't easy to find where I live in a situation that will not
pay as much as I'm on for the hours I do. I'm not in the best of health & can't do the hours to get the same as I'm getting now. The house needs lots doing to it etc etc.

when I was younger my savings would have seemed like loads, but when you're at the other end of your earning potential it seems a lot less.

People with 5 k and less how do you buy a car with no saving?

I've currently got 4 saved because car is on its last legs and I'm worried about having to buy a new car

But our windows are blown, front door really needs replacing, big issue with our loo I'm scared to investigate! And other things like dc want to go on really expensive school trip next year and so on with uni looming.

How does anyone afford stuff. We also desperately need a new outdoor table and chairs it's literally rotten and wood falling off.

People with 5 k and less how do you buy a car with no saving?

We have just bought a car which is why we have hardly any savings. We tend to save up for things so fluctuate between having money saved and having nothing. Last year we saved and then had new windows.

£0 and no, it's not enough.