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

[Thingywhatsit]

Currently a single parent - living off benefits (don't flame me, I know it's not popular, but I was quite a lot worse of working a 42 hour week)

Currently have £600 saved that is for emergencies, also have a loan from my parents for about 4K that I pay back as I can. (They don't want it back until I am working again in 6 months time) .

[MrsLindor]

Single parent of a teenager, still recovering financially from a recent divorce.

I earn about £33K (for 30 hours), plus a small amount of child maintenance, and the usual child benefit. No benefits, just the single adult reduction in council tax.

I had a reasonable level of savings when married but my share of that went in legal costs etc. I save about £400 a month but that's divided into savings for Christmas, holidays, and long term savings, dependant on the current priority. I have a relatively small mortgage and about 60% equity, I have car finance and about £3.5K on a 0% credit card.

I'm doing OK considering. I'm hoping for a promotion in the next year or so and maybe an increase in hours which will help me to pay off the credit card and build some savings.

[Notmynom]

"It shocks me OP that you and dh are still in debt with such massive incomes."

Depending on interest rates it can make sense to save/invest rather than pay off debt if your income is high enough that servicing the debt isn't a problem. E.g with interest rates so low it would make sense to plow spare cash into ISAs/pensions given the tax savings rather than pay off mortgage.

[BitchQueen90]

Single parent, I earn £14k, if I include tax credits and child maintenance from exH my yearly income is roughly £20k.

I manage to live fairly comfortably on this as the area I'm in is cheap. I don't own anything in the way of cars or property. I'm a renter. But I don't have much disposable income to save.

Currently have £500 in an ISA and almost £1000 in savings for DS which I never touch. I want to have something for him when he is older.

No debts and I don't own any credit cards. I have no hope of ever getting a mortgage.

[Fruu]

1. Combined

[sailorcherries]

I earn almost £27k and OH earns, on average, £22-23k before tax.

Our gross take home pay is roughly £3K between us at an almost equal rate as I pay in to a pension and pay off student loans, of which we each put £700 in to joint finances.

Our outgoings are about £1300 depending on how much we spend on food that month, leaving anywhere between £50- £100 in joint savings, in the account.

We pay my parents back a loan for our house at £100pm.

I then have my own personal outgoings of £350ish and aim to save £150 per month. That, theoretically, leaves me with £300ish in disposable income per month but that can vary depending on things like car insurance, birthdays etc.
OH has about £450ish in personal outgoings per month, leaving him with about £200ish a month, depending on his wage that month.

I have £600 saved, only started at Christmas time and OH has £100 saved as he fritters. We also bought a house late last year and needed the garden and other things sorted, which drained our savings.

My DS, on the other hand, has almost £7k in savings so far and growing. He will not get access to the money for another 15 years, so there is considerable growth opportunity.

In the next few years we are hoping to be on net £70k, which will be lovely and definitely what we would consider 'comfortable'.

[BlueMeDown]

NC. DH earns £17,000 pm tax free, we are long-ish term expats (9 years) who've just moved to new (hardship) posting. Outgoings £10,000 (DSS & DSD maintenance, mortgage, short and long term fixed investments, credit card bills paid off each month) £7,000 leftover of which at least £4,000 is put away as savings. We spend a lot on flights to and from U.K. to see DSS & DSD and holidays. About £150k in accessible savings/shares/bonds.

I'm hoping to get a job once we've settled here as I can't bear not contributing.

[Blueskyrain]

Astoria7974 a quick search on national rail puts a 12 month season ticket from Manchester to London at about £15k. It is £25k for first class. That would mean over a 5 hour commute each day, which is pretty extreme even for London.

[sailorcherries]

£17,000 per month tax free!? Where would you even live to earn that?

[olderthanyouthink]

sail Syria?

[farfarawayfromhome]

cherries I'd assume KSA but I could be wrong....

[PigletWasPoohsFriend]

Interesting first post there BlueMeDown

[BlueMeDown]

Exchange rate has been in our favour since Brexit admittedly and it's meant we can put more away. Tough times for DH profession (engineering sector) since 2008, but his skill set is how he makes silly money.

sailor Middle East - not everyone's cup of tea I grant you, but with the credit crunch hitting his field badly in the U.K. he was offered a position in the ME and hasn't looked back.

[lilygerbera]

Name changed for this. Mid/late 40's here.

Household income of £140K pa - 2 professional incomes.
Outgoings of approx £5K pcm (bulk of which is 2 x school fees)
20% - 25% of net income saved/invested.

Highly paid jobs but little job security so we consider a healthy financial cushion is essential after suffering past redundancies.

No mortgage - paid off 8 yrs early via regular overpayment.
Modest but healthy pension pots of £450K & £150K.
ISA portfolio of £250K - vaguely thinking of cashing this in for a holiday home by the sea or a city crash pad in preparation for our future retirement!
2 x JISAs total of £50K for DCs

[gratedcheese]

Piglet I suspect 99% of us have namechanged for this particular topic so probably not Blue's first post...

[ObsidianGreen]

1. £27K (PT) + £100-£165K (varies - this is the min to max)
2. no mortgage, no school or childcare fees (DC at state school), spend average amounts in most areas, more on food/alcohol, more of cars (at moment - used to share and older one) - but nothing extreme.
3. Doing last bit of house up and that is done out of income so don't save much at the moment. House is quite high spec compared to its value - that is our main luxury really.
4. approx. £200K + £450K equity + £1.2M pensions (+DC have savings)
5. Early-mid forties, have name changed. No inheritances/help from family.

[Solo]

BlueMeDown did say they had NC.

[AndnoneforGretchenWeinersBye]

1. not enough
   
2. too much
   
3. fuck all
   
4. see above
   
   
   
   Depressing thread for an "average" earner.

[EmeraldScorn]

If ever a thread perfectly demonstrated what is wrong with humanity, it's this one!

[kmc1111]

I earn around 250k plus bonuses (usually around 50k, sometimes more). DH earns about 50k. We have two rentals that bring in another 100k a year. So about 450-500k a year. That's after tax.

Outgoings are about 3k a week. We have 5 kids living out of home and at uni, so they each get 300 a week which covers all their basic costs (they all work a little too). Mortgages are all paid off, so the rest is just our food, services, bills and general shopping. Sometimes we only ('only') spend $500, sometimes we entertain 3 times in a week and spend that just on food, but it averages out over the year.

At the moment we have a bit under 200k saved. DH's salary goes straight into our holiday fund, half the rental income goes into a savings account that pays for all fees and maintenance on the houses and each year I put some of my bonus in an account we use for larger purchases eg. cars, computers, furniture etc.

Otherwise the money is invested. We have about 4 million at the moment. That's 15 years of saving at least 100k a year, plus growth.

We're about to sell one of the rentals, and the proceeds from that will be split among the kids so they can buy a house or start investing. Once that's sorted I plan on semi-retiring. We won't need to touch our investments til I fully retire, but we won't be adding to them either.

[TheUnicorns]

I'm finding this really inspiring, even if some of it is to be taken with a pinch of salt there are people who earn this much in the world! Hopefully could be me one day

Joint annual income of roughly £72k. Outgoings leave £1200 per month spare. Absolutely could save but right now we don't, we are fritterers for sure. Have just bought a £300k house which will be security for our children (none yet) and we have private pensions (OHs about £20k right now due to how long he's been paying in, I've only been paying for about 2 years so is more like £2k). We are young though, and plan to buckle our belts much tighter in future through overpayments to mortgage & pensions, plus standard savings. Kind of just enjoying spending like silly people at the moment We work in finance.

[nippey]

1. what do you earn
   I earn £55k and my DH earns £30k
   
   
2. what are your outgoings
   £1k for travel, £1k for childcare, £1k mortgage and about £1k in other bills, we have a lot debt that we are paying off.
   
   
3. how much is left at from your salary's at the end of the week/month/year
   Just under £1k
   
   
4. how much in savings do you have
   £0 maternity leave and redundancy cleared out all our savings a couple of years ago and we are yet to start again

[gratedcheese]

Why Emerald? I suspect it was always going to attract the fewer very high earners on MN which probably make up a fraction of the people who post. They really don't represent most of the country let alone the world and apart from the odd person most are just stating fact. No-one is attacking anyone or putting them down which would be a lot worse, not quite sure why stating your mortgage/earnings makes it all that is wrong with humanity if I'm honest!

[Spikeyball]

Income is about £60k in total. We save about £800 a month into saving account, isas and share accounts although some of this is short term savings. Our mortgage is paid off.

[Namechangeahoy20]

DH earns 35k but that has only been for the last couple of months. I earn 19k (pt). Our monthly take home pay is 3k.

Outgoings are 2k :( Main issues are childcare (13mo DS) and a car loan. In four years time this will be very different as loan will be paid off and DS will be out of childcare :)

Savings currently £1500 for us and £600 for DS. They have taken a bit of a hammering with wedding, maternity leave and buying a house. We save £500 a month.

I do get a bit worried when I read threads like these but I have to remind myself that we are in our twenties at the start of our careers and have a DS. We have managed to buy a house which is great :)

As I said in four years time we will have a lot more spare money some of which will go in savings and we will also start overpaying on the mortgage.