How much money do you think you should ‘save’?

[Lookatmeimsandradeeee]

Posting for traffic

Just trying to do a revised family budget as a few things have changed in recent months and it got me wondering how much do people perceive they ‘should’ be saving each month? By saving I mean money you specifically allocate to be tucked away in an ISA or something for the future? £100 a month? £1000?

I know there is no right or wrong answer - I have a number in my head but I’m just curious as to what others ‘like’ to try and save monthly?

We save 0 each month. Outgoings are far too high. Not a good situation to be in but all we have is debt. We have a good household income but with 3 young kids and a huge mortgage out outgoings are huge.

I earn about £1500/month after tax, bills come to about £500, food & diesel about another £200 and I save about £300/month leaving around £500/month for living

It absolutely depends on your circumstances- right now I'm overpaying my mortgage, putting every spare penny into an isa because there are likely to be a few years when my income drops. I then potentially stand to inherit a substantial amount, so longer term, money may not be an issue.

You never really know what could happen so when I can, I save. I'm always fascinated with threads where people are looking to spend a windfall. They're thinking designer handbag - I'm thinking isa.

Right now I have £10 in my savings that I'm really happy I managed to do. My ex screwed me over and I only earn £1000 before tax each month so about £950 Which with rent and three children is gone the day it goes in.

I can't save a penny I'm happy if I'm not in my overdraft each month!

We have a combined income of about £100k. No children yet. Mortgage. Midlands so cheaper living. We save:
£40 / month for Christmas (jan-Oct)
£415 a month long term share save scheme
£430 normal rainy day / holiday savings
£450 from rental income to cover mortgage in between tenants, repairs etc

At the moment £400 a month is also going to a 0% loan we took for a sofa. Will be paid in Dec then we’ll save that too.

I pay 5% pension which my employer tops up by 8%. My husband is SE so has no pension - just the rental.

15% into pension & 10% into savings is a good model to work too.