How much money would you like in your savings account to feel comfortable?

[Blondiebeachbabe]

Just that!

You need to take account of inflation. Presumably pp is hoping for £100k real.

I'd love a million. Enough to provide a bit of income and enough so that I wouldn't have to worry about losing my job. I'd get it into ISAs/investments as much as possible.

Oh yes I don't have anything anyway in savings Account it's in stocks and shares and pb and cash ISA.

Enough to cover 12months of bills and living costs for my family in case we lost our jobs.

6 months outgoings so for us £20k.

25k currently have around 16k

I have friends who are paying for a private nursing home for their mum and it still sounds pretty bad. They're not always all they're cracked up to be.

I guess it's not a total waste of money as it's still better than most state places (I hope) but really, if I had half a million I'd be enjoying it now rather than funneling it into a home for when I don't know what's going on anyway.

I love saving! I love chipping away little fivers here and there and seeing them add up to a useful sum. I then tend to spend it on something that needs doing...usually work on the house.

I have about 5k in an instantly accessible savings account (so about 2 months outgoings) and 10k each tucked away for my children. I have a decent pension and a long term pot that I put 50 quid a month into. My mortgage is small and I've always lived within my means so whilst I don't have a lot of savings I feel relatively secure.

In answer to your question. I'd really like to have 20k so that if our car died I could replace it. It would also be lovely to go on a foreign holiday as a family but that's not in our budget.

Savings are savings. M3aning your not spending.

In my own savings account (assuming i only had 1) I'd want a max of 85k as thats all thats insured per provider.

Never put all your eggs in one basket. Your only insured up to 85k per provider.

I don't know. How much are you offering?

The insurance is now £120k I believe.

However, the other issue is that you should consider whether liquid savings are the best option for larger amounts of money, beyond what you'll need to spend in the next year or two at most. Investments in an index tracker are likely to beat interest earned on cash over the medium to long term.

The financial flowchart helps you decide whether to direct your money towards cash or investments (or debt first if you have any of that)

The UK Personal Finance Flowchart - UKPersonalFinance Wiki

I would feel uneasy if less than £50k. Mortgage is paid off at least.

If you lose your job, have health problems, get divorced, want to retire early, not to worry about bills going up or sending children to University. £10,000 doesn't go far if you stop earning for a while and the bills keep rolling in. Or do you mean £10,000 in immediately accessible savings and the rest invested more long term, 1,2 or 3 year bonds, S&S and ISAs you wouldn't want to withdraw?

£10k doesn't seem like enough to deal with a crisis to me at all. That's a useful slush fund so you don't have to think too hard when booking a holiday, but it doesn't deal with the car needing replacing, the roof needing repair, a minor medical issue you'd wait years for on the NHS, needing some care after an accident, or losing your job!

Even if it did one crisis and it's gone. To feel secure I need to know I can have more than one crisis 🤣

This. DH has been sick for 6 months and our bank account has drained £16,000. It’s not enough to prevent disaster

We have quite a lot saved about 200k but when I get used to a total in the bank I then get a sort of mental block on spending any of it and so it just kind of builds up and we don't even invest it properly which is probably daft. We both grew up really poor and definitely have anxiety about money now. We are both 50ish and should probably learn to live a little!

6 months of living expenses but I’d start to panic when it went under 3.
Enough to be adventurous? About half a million in liquidity.

Depends on circumstances really.

What are your outgoings
What is your current discretional spending
How likely is it you can get another job?
Do you have elderly relatives that might need sudden support?
Dependents.

Ideally, if you earn more than the minimum you should be trying to live within your means to build up a buffer.

I currently have about £140k in savings at the moment, and £4k in my current account.

This was from a house sale over a year ago, and although I have spent about £14k on a couple of nice holidays and an eye wateringly expensive (for me anyway) watch for my partner, the rest is nestled away. I have one more holiday to plan in October, then that's it.

Ideally, I would like £200k savings.

Depends what you count as ‘savings’. I put most of my money into investments rather than cash savings. Also, mortgage overpayments can be considered ‘savings’ in some sense, as my bank allows you to draw down from overpayments if you need to skip mortgage payments for a few months.

I have enough, I would say. About 500k.

I have 40k and I don’t feel comfortable as my flat has lost more than this in value and I’m trying to move so I need to spend another 30-40k on estate agents and stamp duty which is dire

I have £87k having struggled in the past. My young adult kids have £50-55k each for house deposits. I’ve no mortgage.

I’m still nervous about whether 87k is enough. I’m aware logically that this is not a sensible thing to be nervous about and that I’ve more than many.

I'd like 50k saved but have 5k.