To ask how much savings you have

[mrsshears]

nosey old bag emoction

40k, plus equity in house, but not a lot! 29, married, 2 children and third on the way. Joint salary 90k.

hhmmm i'm not sure i'm glad i asked or not

we are definately going to pull our socks up i think,we are quite indulgent with holidays and have spent alot this year.
I suppose i better tell you mine being as i asked..
we have 10k savings and have a 20k mortgage on a £260,000 house,i'm going to try to save some more though and bit a bit more frugal

If you only have a 20k mortgage on your quarter of a million pound house, I'd say you've done quite well.

On our base salaries my DH and I currently save around 50% of out net (after tax) income. 50% goes into a pension (very tax efficient), the rest into deposits/investments.

Bonuses, investment returns etc add on top of that.

we save £400 a month (all joint finances), but spent most of that (2 years worth) on our wedding this year. Have about 1.5K in saving account, but am on mat Leave from December so that will get used up I reckon.

Earn 35k combined income, however we bought at 23 (now 26) so re-starting our savings pot, so to speak. Neither of us pay into pensions.

Would LOVE to be able to save more, and aren't big spenders (no yearly holiday, I drive an old banger and DH doesn't drive, we do very cheap christmases)

There always seems to be something practical that the money is needed on (new boiler, re-tiling the bathroom etc)

We have 2 dc, rent and have about four times DH's annual salary saved and some shares (not worth much at the moment), plus pensions.

3 x net monthly salary in cash.

5 x net monthly salary in mortgage overpayment account.

Annual income 60-70K (it varies).

Also have equity in house but haven't counted that.
Have company pension too but no additional pension savings. My current aim is to get mortgage free.

We've got £2.34 in our wallet to last til Wedsnesday.
No savings. about 9k in debt.

Don't have extravagent holidays, or any holidays actually, don't smoke,drink etc. Just had really bad luck with work, cars, spent a fortune on a property we were renting, expecting to be there for 20 years.

2 kids, DS1 is disabled and we can't afford for me to go back to work for a while yet.

One years salary, which is currently offsetting the mortgage.

I also have quite a lot in pensions as I was made redundant and put a huge chunk of it into a pension so I wouldn't be taxed on it.

We possibly also have a fair bit of equity in the house (although how much of that is real is debatable!!) as we did well out of property sales but assumed none of it was real profit so ploughed it back into the next house.

Have approx 15k savings. DH has about 60k. 40k equity in rental property and 200k equity in our home. Terribly frugal though! I use Lidl moisturiser, buy clothes from Asda and we tend to go on camping holidays! Also, very poor growing up so maybe there's something in that...

God, this is depressing reading!

Just to lower the tone a bit, taking off the equity in the house, we have savings of minus 35k.

Bugger.

We invest the majority of our spare cash but many of these investments couldn't be cashed in quickly so we always keep £20k in a bog standard savings account.

Oh and we're in our early forties and didn't inherit anything.
Everyhting we've got is from income.

We have £2000 emergency money. That is it. Everything else (ISAs, savings etc) has gone on school fees over the last 5 years. Hoping to be able to start building our savings back up again now that one is out of school and another going to free 6th form college.

£1800 in our joint savings account. I am nit working atm so dh is the sole breadwinner.

We have about £140K in ISas and shares, £20K in cash and a mortgage of about £100K, but a house worth about £600K.

We live fairly frugally although our dc do go to independent schools and I'm a SAHM which are our luxuries.

holidaysoon As I said earlier, we bought a flat in 2000 when prices were rising and I remember dh panicking saying "We just CAN'T afford this" but I dug my heels in and insisted we had to get on the ladder, so I understand what your fears were. Eventually we lent the deposit (5k) off my FIL (who, by the way made us go to the bank, get everything signed up in a legal agreement, made us jointly responsible for the entire loan in case we split up. We paid just under the going rate of interest and made 36 monthly payments to him. No wonder he's a millionaire)

We struggled beforehand though, sleeping on my MILs front room floor in a one bed high rise flat and struggled for the first three years.

For the record, no inheritances, we're in our 40's with a ds between us and 2 step children (now adults)

I have about £13k which is the same as my net annual salary, DH has around £40k whic is just over his net. However, we were totally done over when we entered the housing Market in 2007 so are now in a minimum of £60k of negative equity!!

We have saved around 1000 pounds per month since DD2 was born, at the advice of a financial adviser who thought we could manage this (it was about 1/3 of our monthly income, with the mortgage being in the region of 1000 as well). The reality was that we signed up to it, then found that we couldn't easily manage, but could if we shopped at Lidl/the market and had no luxuries. I absolutely loathed this and hated the financial adviser for several years.

However, I then got a promotion at work, which meant a significant increase to my salary. This made life a bit easier, in that we could have some luxuries, but I was spending around 450 on commuting every month, which rather ate into the increase, but still meant that we were a bit better off.

Fast forward a few more years, and we moved to Paris, which meant another increase in salary. So we are now reasonably comfortable and have a significant amount of savings, which we can now access (it was tied up for 10 years minimum). We are choosing not to pay off our mortgage, but are overpaying on it, due to low interest rates. The money will probably be used for school fees, if necessary, or university for the DDs.

We have a lot of equity in the house.

About £14,000 in a savings account - we save every month into this.

Lots of shares (through DH's work plus share save schemes which we wack loads into)

Pay a lot into pensions.

We do not live frugally, sometimes I wish we did. Our holiday last month cost us around £8000 but it was DH's 50th birthday holiday and we enjoyed every minute.

And yes, many many years ago (have been married 24 now) we also had the bailiffs knocking at our door along with the customs and excise people... They wanted the tax on money we had sent an invoice out for but the company went under and never paid us.

Good thread, well done OP for having the gall to be so nosey.

Partner and I are, 37 & 38, have joint savings of around 110k earn 40k and 65k.

Bought house in 2002 for 170k, currenty could sell easily for 250k (we live in a country where house prices and market are still bouyant), have around 50k still to pay off, we have only a 15 year mortgage, so that'll be paid when I'm 42.

I was a good saver when very young, went off the rails and had nothing but dept as a 20something, and then sorted myself out and got saving again, after working at some very crap temp jobs, got a break into this good one.

Eeek this thread is making me uncomfortable. I'm genuinely shocked at how many of you have so little or no mortgage And pretty substantial savings. I am exactly the opposite.

We have a high joint income , very high mortgages (like over £1m) but pretty much no savings. We have just about paid off huge debts over the last 3 years and within the next year hope to have accumulated a chunk of savings as a bit of a safety net - hopefully about half our joint net income - for when interest rates start to go up.

We are early/ mid thirties.

I am astounded by the huge amounts of savings so many people have!

We have very little. Probably just enough to cover a month's outgoings. It was quite a lot more (maybe 6 months outgoings?) but then all our rainy days hit at once.

I haven't been able to go back to work after DC2 yet as he has a lot of hospital appointments and physio every week. This has reduced our household income by 40%.

In fact, the physio has eaten a vast chunk out of our savings. As did DH earning 30% less this year than he did last, and losing my income all at once... As did getting burgled earlier this year and losing all our valuables, some of which we had to replace before the insurance was settled. So now we're just able to cover our monthly outgoings each month and no savings left.

We're selling the house now and moving in with family, so hopefully we'll be back on track soon. There's a reasonable amount of equity in there at least.

Mortgage paid off (thank God) I have 15K in my piggy bank DH has shares that go up and down, but worth around 100k.
He has a pension I don't.
No debt, try to pay credit card off each month