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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:
FriendlyOcelot · 01/06/2018 08:16

Morris 😂
You haven’t mentioned that you’re cutting back to just three long-haul trips this year.

lanbury · 01/06/2018 08:16

Just wow! This thread is a true reflection on what a divided society we live in!!
All my "savings" are in bricks and mortar. It scares the hell out of me, but unless I find a miracle money tree, that's how it is. It's taken years to get on the property ladder, now years of paying it off. I do try and save but in reality it's more "rainy day" savings rather than for the future. The last couple of years everyday living just seems to have gone up so much. An enexpected MOT failure and a broken boiler has massively set me back this year, but that's life. I'm self employed and finding it harder and harder to keep the bread and butter coming.... yet the elitely rich seem to be getting richer! There are some proper Marie Antoinette comments on here!!

FriendlyOcelot · 01/06/2018 08:18

Lanbury there is a definite divide between the almost-haves and the have-yachts these days!

WyldDucks · 01/06/2018 08:18

I have 6 months salary saved and DH has two years.

In fairness we are hoping to move house this year!!

Earslaps · 01/06/2018 08:21

I think it can vary by age as much as wealth sometimes.

We are late 30s, so we're at the 'only just on the housing ladder and young children' phase so it's hard to save. Because we bought nine years ago, then moved up to a bigger house three years ago we have a large mortgage and extra money has been going into the house. I've only recently gone back to work, so we were on one salary for a long time, and now I'm flexible part time for a charity and under the tax threshold so my wages are what have allowed us to really start saving.

We save each month towards yearly expenses like insurance, holiday etc. Both of us pay into pensions, but mine is a very small amount, and we both have small amounts of shares. We've been saving cash but our roof is leaking so lots of that will be gone soon.

I'm very fortunate that my parents give me some cash each year (early inheritance) so I use that to top up my pension and ISA. My sister is a single parent so used that money so she can have some small luxuries (replace a broken down car, go on holidays or decorate the house!).

AbigailisFarty · 01/06/2018 08:27

@Sergio4 why are you posting money questions in AIBU? It's got nothing to do with being unreasonable; there is a Money Matters forum Mumsnet! Grin

It really doesn't matter what other people save; everyone is different.
What matters is how much you can save.

What kind of work do you do and what are your outgoings? it's better to lay those out if you want some help/ ideas.

FWIW I save all my income. Our house is paid for, we aren't far off retirement and between us we have a savings pot of around £300K.

polkadotpixie · 01/06/2018 08:28

I have £8K saved. It's taken me 2 years of working a part time job as well as my full time job though

It's going to get used soon though as I'll be going on maternity leave in August. I started saving before TTC because I knew I'd need it to support myself whilst my income is so low. My husband doesn't earn enough to pay my share of the bills as well as his own so I had to plan ahead

I'll never be rich but I do my best to make the most of my situation. I pay into a pension but I think I'll only get about £1000/year from it so I expect to be working til I die realistically

I'd love to retrain to earn more in future but I can't afford not to work while I do so I'm stuck. I have a degree but it's essentially useless, I wish I could go back in time and join a profession rather than end up in Admin like I have

PurpleTigerLove · 01/06/2018 08:30

I have a considerable amount in savings as does my husband . I work part time and earn approx 15k so not a huge salary .
I never understand people who could save but choose to spent so much on holidays ( see other thread) and consumables.

JaceLancs · 01/06/2018 08:33

Nothing - just debts

Sparklesocks · 01/06/2018 08:33

doomRaider if you truly believe everyone can afford to put chunks of their salary away every month you are either naive, or wilfully ignorant.

A lot of people are on low incomes and their wages are eaten immediately by rent/mortgage/bills/kids - and they struggle to make ends meet. Every penny goes towards keeping them afloat.

Being able to set aside chunks of money every month is a luxury for some. Not everyone is that lucky.

ReanimatedMuse · 01/06/2018 08:38

Liquid, about £700k

You do understand that many people won't earn this in a lifetime or is your head really so far up you arse you can't see the reality for many?

OP I'm a spender at heart and should save more but I don't: I enjoy clothes and holidays and eating out.

I prioritise a pension and mortgage payments and consider myself very lucky to be able to do so. I haven't always been in that position.

I have enough saved that there are few "emergencies" that would be problematic but again LUCK.

ReanimatedMuse · 01/06/2018 08:41

@purpletigerlove

I never understand people who could save but choose to spent so much on holidays ( see other thread) and consumables

I suppose it's a matter of living in the present not the future. What are you saving for ?

Given a long life what would be the point in dying with a fortune in the bank for DC who will likely themselves be retired? It's sensible to have a pension of course but also one should enjoy life Smile

bobblyflower · 01/06/2018 08:55

@doomRaider

I wonder about those people who save nothing. Who do they expect to look after them when they stop work?

They lie awake at night worrying about that.

Can you not understand that a lot of people simply don't earn enough to save anything?

LifeBeginsAtGin · 01/06/2018 09:05

I love these threads, it's interesting to know peoples personal info - but I wish they would post their jobs too for comparison.

What does annoy me is those who don't save always having a dig at those who do, so to answer the question I wonder about those people who save nothing. Who do they expect to look after them when they stop work it'll be the taxpayer and all the fault of the Tories.

As someone said upthread, it often depends how old you are: people with mortgages and kids are going to struggle more than those who have paid off the mortgage and the kids have flown.

It's never too late to better yourself, MsHopey start gaining more qualifications and looking for better paid jobs.

LakieLady If I were you I would put more into my pension than savings.

CrochetBelle · 01/06/2018 09:15

I wonder about those people who save nothing. Who do they expect to look after them when they stop work?

I wonder about those people who are so ignorant they can't imagine a life that doesn't match their own.

theunsure · 01/06/2018 09:24

Not much in cash, about to move house and should end up with about £10k

I have a final salary pension though and have a BTL with a small mortgage which will be paid off in a few years- so I'm not worried about retirement. I'll also inherit at least £250k at some point which will clear any residual mortgages.

I'd like to have a bit more in the bank though for day to day, but we've had a hard few years and have a bit of credit card debt (about £2k on 0% interest) which I'm paying off first. Then should be able to save 10% of salary monthly.

Purplelion · 01/06/2018 09:24

Do some people truly believe that people choose not to save? I would love to save but it is impossible! After food, childcare, bills and essentials I have nothing left. I have enough to cover everything each month and don’t think I am poor as such, I shop in Aldi, I don’t buy anything expensive, I haven’t been on holiday for 3 years and I cannot save anything other than about £5 a month!

Boulshired · 01/06/2018 09:32

Some people may truly believe there is an element of choice and some just try to be goady to get as many replies as possible.

LifeBeginsAtGin · 01/06/2018 09:36

Purple Are you not able to save even a small amount each month, to ensure you have enough even for one months rent/bills/food etc?

AnnabelleLecter · 01/06/2018 09:36

We've always been able to save even just a little at times so it's built up over the years.

We are aiming to use it to retire early.
We've spent as much as we've saved.
I don't understand why people live like paupers with loads of money sitting in the bank

TakemedowntoPotatoCity · 01/06/2018 09:40

2100 at the moment.

Having said that, I have 200 pounds in my current account since it's the first of the month and all the bastard direct debits have come off, so I can't see it being 2000 for long.
As always, you will get the whole range of answers on here from six figures to in the red.

SensoryOverlord · 01/06/2018 09:41

Nothing cash.

When we sell our house (soon hopefully) we'll have about £20k which will be savings until we buy again.

AbigailisFarty · 01/06/2018 09:42

Asking questions like this without any context is meaningless.

When I was Op's age ( she's 1 yr out of uni and no full time job) my circs are totally different as I'm 60s , house paid for and DCs independent. If you'd asked me when I was 22, that would have been different.

It would have been far better to say 'I am 22, work p/t in an unskilled job, and wonder how I can save.'

ICantCopeAnymore · 01/06/2018 09:46

Are you not able to save even a small amount each month, to ensure you have enough even for one months rent/bills/food etc?

You do realise some people can't?

I couldn't afford to save £1 a month.

AbigailisFarty · 01/06/2018 09:50

I don't believe someone can't save £1 a month. There is always something anyone can do to economise- food, clothing, fares, holidays etc. If someone is on benefits that is different, but for someone working they are either living beyond their means (on credit and repaying) have commitments they can't afford, and / or need to find other work to increase their income.