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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

How much do you have saved

324 replies

Sergio4 · 31/05/2018 23:20

And how much of your salary do you save every month?

I have about a thousand saved and save around a few hundred a month as I am looking for a better job

OP posts:
Imafrayedknot18 · 02/06/2018 20:36

Am surprised how much personal information/actual amounts are posted here!

Teeniemiff · 02/06/2018 20:37

God some lovely people about aren’t they.
I worry quite frequently about how well afford to live when we’re older. I do pay into a pension & obviously hope life won’t akways be this much of a struggle.
Some of the amounts people save each month are more than my income 😳

Echobelly · 02/06/2018 20:38

NB, regarding savings being from a man - not necessarily the case.

My savings weren't from my efforts either, TBF, but inheritance (although pre kids I did put money in savings too). I actually put down the deposits on both places we bought, but DH is in a much higher earning field than I am.

Imafrayedknot18 · 02/06/2018 20:42

Me & DH are quite equally responsible for our financial position, through saving and prudent decision making. People like us exist! (and for us it's due to having nothing when we were kids)

Flynnshine · 02/06/2018 21:07

Sweet FA.
We had some savings then my partner got cancer and the money was used to pay our mortgage. My partner eventually went back to work and we got back on our feet. 2 years late we had DD, I went back to work and then she got cancer and I have had to give up work to care for her full time. We have enough to live each month (just about)
Not all people who don't save are 'not sensible' or not thinking about their future. A lot of us are just trying to get through the next month!
These posts just attract the smug fuckers who want to brag about how much cash they have, how fucking smart they are and how fortunate their lives have been.
I'm not bitter at all. Grin

colouringinagain · 02/06/2018 21:16

Bloody hell some people have some nice savings.

Me not so much.

mishfish · 02/06/2018 21:23

@flynn I hope your DD recovers well. I had cancer when I was young (not that young though!) and whilst it was awful for me, I can’t even begin to imagine how horrendous it was for my parents Flowers

Applepudding2018 · 02/06/2018 21:23

Hoping that this thread saying how much money people have isn't being linked by some hackers to the one where posters are giving their date of birth!

Waterdropsdown · 02/06/2018 21:34

We save separately, I get what the poster is saying about males having more savings etc but I think if you have a sensible attitude towards career and money there is no reason why you shouldn’t be ok financially without a man. It all comes down to education, choice of career and then choices about working if/when you have children.

At the moment we are both saving less than pre children.
With regards age - I started saving at 25 and also started contributing to a pension at that age. I just wasn’t getting paid enough before this (although always managed a cheapy package holiday).

Now mid 30s and save about £10k a year. Also pay quite a bit into pension. DH saves a lot more but he considerably outearns me. At present we have no financial worries (pre children we saved a LOT more but some went on IVF most of the rest on a house) but you never know what’s around the corner. it will always be important for me to be ok if I had to get by on my own (so keeping career going despite it not seeming worth it for what I earn post childcare) and also to have a substantial pot of savings/investments.

Pinkprincess1978 · 02/06/2018 21:35

We don't currently 'save' both have final salary or similar pensions so our retirements are in hand and we have a mortgage so by the time we retire won't have a mortgage or rent. We currently don't have spare money to save but we did before we moved to a bigger house and I'm sure in the nearish future we will start saving again.

BitchQueen90 · 02/06/2018 21:38

Thing is though when you have a partner who is also contributing towards household bills it will be easier for you to save. If you're single and having to pay every bill by yourself with just one income it will be harder unless you're a high earner.

ScaredPAD · 02/06/2018 21:42

Sigh. Im feeling so low about our financial situation and so envious of those with real choices how to spend their money (tempted to do a thread on handling that) that I may need to hide this thread :(

Openup41 · 02/06/2018 22:01

This reply has been deleted

Withdrawn at poster's request.

Flynnshine · 02/06/2018 22:13

Thank you @mishfish we have a very long road ahead, unfortunately her cancer is incurable so we have only long term management to look forward to. I'm glad you are still here to tell the tale of childhood cancer, it's nice to hear success stories x

PinkSparklyPussyCat · 02/06/2018 22:23

I save about £250 a month on my own and we save about £600 a month between us, although a large chunk of that is going on paying for next year's holiday and the rest is put aside to pay for things as they come in.

It would be nice to have it all in a savings account but life's too short and I don't want to look back and think 'I wish we'd done so and so'.

PinkSparklyPussyCat · 02/06/2018 22:24

I should have added we're only able to do that as DM died last year and we were able to pay off the mortgage. I'd rather have a mortgage, no holidays and my Mum though.

Icklepickle101 · 02/06/2018 22:28

£29.07 in my ISA and I’m proud of that.

It’s the first month I’ve had a spare penny left at the end and it all went to my savings, after I treated me and DS to an ice cream. If I can save £100 by Christmas I’ll be happy.

lynmilne65 · 02/06/2018 22:32

Well I manage on £800 pcm, quite well but struggle to maintain car ( live in Arse end of nowhere)

Tina851 · 02/06/2018 22:37

Don't want to give figures, but have about three years' salary saved. Could last five years without working, probably ten years if I cut spending.

OMGafourth · 02/06/2018 22:46

I have about £800 in a savings account. But I'm a part time working mum with a husband that refuses to follow my strict budgeting (which would allow £800 savings a month AND £200 for us after everything is paid)... We both contribute to our pensions though, and via an online calculator I should be far better off in retirement than I am now!!!

TheToldYouSoDance · 02/06/2018 22:47

£282. Would like it to be more, but not had a pay rise in 10 years so am trying to pay debts that we’ve accrued during ‘in it together austerity’. Our jobs are fairly secure but If one of us got ill we’d be well and truly fucked.

Abiamber · 02/06/2018 23:00

We have about 300k savings and a 350k house with no mortgage. We have been married over 30 years and DH has saved as much as possible for’the future’ I’m 57 and he’s 67 and he’s still working and still saving. Surely this is the future and we should spend some- not just save it for the kids who will probably spend it on the kind of holiday I want!!
I understand many people would like to save but aren’t in a position to and others just live for today.

2ManyChoices · 03/06/2018 00:43

I have £3000 cash in a savings account, I try and save £400 a month, we have around £18k in a joint isa, and a second property that is rented out, a nice car and a house we paid very little for, mortgaged at £120k, that's worth in excess of £500k so a fair amount.

BUT. I have been on the end of the scale where I haven't even had a solid £1 to add to savings at the end of the month, and I worked 4 jobs at that, I've been reliant on family for shoes for my kids, and it taught me that I needed a back up plan for 'just in case'
We are lucky, and anyone else in a less fortunate position, I've been there.

mrcharlie · 03/06/2018 08:08

My view on this at present is that you need to be either incredibly rich i.e Branson/Suger etc . I once read that Branson actually owns nothing...it's all rented, hired etc etc
or have a normal job with a small float of cash to ensure you stay out of OD and preferably live in a council property.

If you.re in the middle, then basically you're gonna be fucked later in life.

Case in point, young lad just teamed up with me at work, His grandfather who had saved his entire life (£75K) developed dementia, Grandmother couldn't cope so it was decided he should go into care. The £75K was used up in 2yrs and GF sent back home in a much more deteriorated state despite his GM pleading that she couldn't cope. They are now challenging for their house to be seized and used to pay further care.

I'm guessing this isn't a rare scenario, but its pretty despicable when someones paid taxes their entire life. Only to find themselves possibly homeless and in abject poverty for no fault of their own.

mrcharlie · 03/06/2018 08:25

sorry, meant to add...

If you're a council tenant with little or no savings I'm guessing your old age care will be taken care off.

I've busted my balls for the past 18yrs, just finally paid off the house and CC and OD. Mate has squandered his money on beer and boys toys, swans round in 4x4 (paid for by parents inheritance) was moved out of small council property into much bigger council property with a truly enormous garden in an area that virtually all other council properties have been bought. The area is very much highly sought after i.e doctors, dentists being your neighbours.

Has zero intention of ever saving, lives his life to the full, knowing that he's now untouchable provided he keeps paying his rent which is ludicrously cheap fir the area he now resides in.

I ask myself why did I bother? I don't even own a car.
Maybe he's got it right and I'm the bloody fool

If either of us need care in old age I stand to lose everything, he will lose nothing.

I'm not bitter, just had my eyes opened that is all.