Savings how much

[Greatballsofedam]

So there are a few threads going around about money and how people can't cope on what they earn
My question

1. what do you earn
2. what are your outgoings
3. how much is left at from your salary's at the end of the week/month/year
4. how much in savings do you have

I am just interested to see some answers

DH earns £115k. I earn £81k (for a four day week). Our outgoings are more than we earn. We both have money on credit cards and end the month in our overdraft. In our defense we have a massive mortgage and we had an unplanned (but much wanted!) child who we didn't budget for at all. My entire salary now goes on my season ticket, childcare costs and sandwiches/coffees at work. We probably over-spend by about £200-300 a month each. We are hoping that DH's annual bonus will pay off the debt we have incurred this year and that both our salaries will go up by a few hundred pounds as well. That would sort us out. We did have some savings, but spent most of them on the baby. There's a £10k emergency fund, in case something drastic happens... it was closer to £20k but before Christmas the family bathroom showed signs of wanting to fall through the ceiling...

Earn 110k before tax between us. We invest 25k per year after expenses, and also contribute an additional 10 per cent into our pensions.

Generally budget to have 1-3k in the current account each month - will top up savings if more or less.

Joint earnings approx 200k.

About 60k in savings plus another 60-80k in easily sellable assets that we could quite happily live without if we had to - car, motor home, motorbike, watches, jewellery, etc.

We save anything from £200 to £1k a month.

I think you will struggle with this question!
You tend to get the highest and lowest responses, so along the lines of earners of 100k plus with huge savings or those of 25k less with zero in savings.

Earning 26k on 90% hrs, mortgage + other bills are about £700 pcm. Net income is about £1500 after tax + 10% pension, so then probably spend about £300 ish on food, petrol, diy, going out etc so save about £500 pcm. Some of that comes back out again though - £150 ish goes into short term savings for holidays, car insurance, car repairs etc if I can't make the monthly budget stretch to them.

Bloody hell some people earn a lot of money!!

My monthly pay (I work 4 days of 7.5 hours each week) is £2k, give or take £50. My monthly direct debits alone come to £1850, then have the less regular things like car upkeep etc on top of that, plus food and fuel. No partner, so no second income. I have nothing in savings in my name, and about £100 in savings in my son's name (1yo, so not likely to be needing his savings anytime soon) which I very rarely dip into, generally only if we're in need of food, and he gets paid back as soon as I'm paid.

In an ideal world I would be putting a bit aside at the beginning of the month into both savings accounts. This is not happening. Last month ended with £10 left in the bank. This month is car tax month, so will likely end in the red. I have credit card debts which were run up whilst I was on mat leave and not earning - currently on a 0% card, and being paid off at a bit over the minimum payment each month, I will transfer it to another card at the end of the 0% period. I also have a loan I'm paying off monthly, also related to mat leave.

I am constantly thinking about money and can honestly say I've never been so stressed in my life. I have stripped as much as possible from my budget but can't see it getting any easier any time soon.

I earn £35k. DH earns £30k. Outgoings of £2k a month. We save anywhere from £500 to £800 a month but that will always be for a specific project (currently saving for a new bathroom) the rest gets frittered. Currently have about £3k in savings.

How about you, OP?

1. nothing
2. minimal
3. not a lot
4. none

I'll do a sad face next to some bins if it works for your article?

Easily answered
Sweet F A and it's none of your business

I know Navy I am intrigued if big earners are any better off that lower, or just have a fancier way of life

93k before tax between us. On mat leave now so a bit different but save £250 a month for long term savings (60k there at the moment). £260 a month to cover car insurances, taxes and other stuff. With childcare, mortgage etc there isn't anything left at the end of the month. We have our house and another property, both with decent equity.

All our savings linked to our offset mortgage. 3yo DS has a few hundred pounds in his ISA though.
Yes, what about you OP?

Nunya

I am intrigued if big earners are any better off that lower, or just have a fancier way of life

Having a fancier way of life is better off!!

£55,000 joint income, outgoings £2,500 PM. No mortgage or debts, savings £300,000 but no pensions ( our savings and house will be our pension)

For me:

1. £46k ish.
2. £800 for basic cost of living - rent/bills/shopping etc.
3. £1800 ish.
4. £20k ish.

For husband:

1. £43k ish.
2. £800 as for me.
3. No idea.
4. No firm idea but think around £60k.

God, no offence op but I'd never share that information online. I'm amazed others will!

Why - it's an anonymous forum

Outgoings about a quarter of net income. We are heading to the end of our careers and have one term of school fees left - no mortgage and healthy capital.

Many mumsnetters are the top few percent of earners in the uk it seems.