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

[CesareBorgiasUnicornMask]

DH earns around 30k, I get £450 per month NHS bursary and £3000 a year student loan. My bursary goes on childcare and my loan on commuting to uni - they don't cover either entirely but almost. Otherwise our outgoings are about £12-1500 a month.
How much we have left varies depending on what overtime DH has done but we're usually in the overdraft. It's a very good month if we finish with any money left.
We currently have £3000 in savings because we sold our last flat and bought somewhere slightly cheaper - prior to moving we had a couple of hundred.

[Blueskyrain]

LorelaiVictoriaGilmore I'm trying to do the maths but I honestly can't see how an entire £81k salary can go on season ticket and childcare for one child. You might have a expensive London nanny, but then season tickets would be low. Or a massive commute, but childcare wouldn't be as much. Either way, I can't see how that could take the entire salary. Are you commuting by private jet or something?

[Astoria7974]

OP why are your outgoings so high when you don't have a mortgage?

[Astoria7974]

Blueskyrain - a commute from Manchester to London can cost around £20-30k depending on the train company. My commute costs 10k per year and we're under a 100 miles from London.

[expatinscotland]

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

Same.

[ExConstance]

I earn 35k, take home £2.2k
DH earns 51k, takes home just over £3k after pension payments, he also gets £600 a month pension and a couple of hundred a month from part time teaching.
We have nearly paid off our mortgage which is around £800 per month and have lots left over each month - it is very nice being comfortably off for the first time ever. We are still supporting DS2 at university but that will end this summer. Savings are a bit academic now as we are looking forward to getting our pension lump sums in 5 years time, but I suppose we could find £40k by liquidising all our savings pots that are not pension. I am looking forward to having a few years of good living.

[RumStuff]

Reading how much some people earn and save is shocking. There is a huge wealth gap.

[Dagnabit]

Our household income is about £43k gross. We save on average between £500 and £1200 a month - some long term, some short term - less if we're paying out a lot that month (holidays/home improvements etc). Outgoings I'm not 100% sure on but no more than £1500 per month including going out/childcare/kids clubs (no mortgage). Savings of around £26k

[welovepancakes]

And this is in AIBU because ..........?

[Gazelda]

Given the risk that this thread could end up featured in some national rag, I'm not prepared to share that info without name changing first, and I can't be faffed to name change right now.

[Llanali]

I earn 48k before tax, husband earns about 9k and therefore doesn't pay tax. Obviously no benefits or credits outside child benefit.

I don't know what our outgoings are.

I have 22k in savings, for us as a family, husband has none.

No debts outside mortgage, which is 60% LTV.

I stick about £100-200 in savings each month, but use them to pay MOTS, insurance etc. I aim to never let them drop below £20k.

[toffeeboffin]

at the salaries on here!

[HairsprayBabe]

Joint income is £44k bills including travel and rent are about £1k a month we save a grand and have £400 of "fun" money a month between us.

[TeenAndTween]

I'm not amazed by the salaries. But I am amazed at the people on good salaries unable to save, or even overspending.

[timeforabrewnow]

Save a grand a month???

Flippin' heck OP - I wish I hadn't opened this thread as it makes me feel extremely poor.

[RB68]

we pay ourselves 1500 net each a month plus annually take 10k out the business as divi's

We spend it all! We save nothing and we probably add about 7k debt a year which we sometimes move things around to pay off when things are more flush although we need to change how we do that now with some new tax rules.

We will prob just up our pay to cover the shortfall as we are awaiting some payments coming in that would allow us to do that long term. Ifs been a bloody hard last 5 yrs and we are just about now on even keel but it feels precarious as no plan b at moment and pension provision has been raided.

[ohheykobus]

Take home 1750, although from next month will be around 1800.

Total outgoings are 1300 for rent and bills, no debt.

Savings 8.8k.

Live relatively modestly but not Frugal Freya either! Don't have a car, walk everywhere.

[gillybeanz]

Joint earnings approx 20k.
Disposable income quite a bit, haven't added it up.
savings 20k
Second home
very small mortgage approx 20k.
Always been low income, I was sahm for 25 years, until november 16.
We just learned how to manage what we had and aren't very materialistic.
Have a motto, don't spend unless necessary or you can see it coming back.
It's worked for us.

[ohheykobus]

ETA that I put away around £250 each month, sometimes more, sometimes less.

[RB68]

I should say any excess usually goes into mortgage which while significant is only about 40% of value

[nonwonderwoman]

named changed for this but...

1. Me £60k, DH £131k
   
2. £9k per month (mortgage £2.6k, childcare/school fees £2.8k, bills/car etc £2.7k, extras for the rest/ home renovations/ socialising etc)
   
3. £500 ish
   
4. £hardly any

[southall]

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

It is quite well known that beyond a certain point more money doesn't lead to more happiness.

Probably that point is having enough so all your basic needs are met and a bit extra for a few luxuries.

After that point extra income wont make you significantly happier and even, for some folks, risks making you less happy.

[Solo]

I don't earn enough to save anything at all at 11.5k though I do get a little TC; I have a mortgage and my outgoings wouldn't be covered without the TC's so I am grateful for that. Wish I could save something, but I don't have any luxuries, vices or nights out and my car is 12 years old.

I did buy a £1.99 magazine the other day and thought very hard about whether I should...and felt guilty when I did. I guess that's a luxury.

[HairsprayBabe]

To be fair brew we are saving for a house deposit, we both earn 22 pre tax, joint take home is about 2900 and we live in a very cheap part of the country where rent is low.

No kids so no child care costs, no car either.

We have about 6k in savings atm but we want a 15k deposit, so we still have a while to go as we don't make the grand every month!

[dilapidated]

Joint earnings of £64k between the two of us. Working full time.
Outgoings are approx £1500 per month including £900 mortgage.
We save approx £500 per month. (Which is whatever is left at end of month usually). This will only happen for the next few months as I will be on maternity leave soon.
We are currently doing up a moneypit and have a baby on the way, so savings are depleting fast. We have a small emergency fund of about £4k which we are not touching until I am in maternity leave.