2/5 of people have less than £100 in savings

[Jorginho5]

your thoughts?

I am not surprised. Everything has gone up in price but many people are struggling to either: find a full time job or better job than the one they currently have.

www.thisismoney.co.uk/money/saving/article-4348544/Two-fifths-UK-s-workers-100-savings.html

Many years ago when my children were young, we did not have two halfpennies to rub together, there was always more days left over in the month than money! we lived carefully, and I knew at least ten different ways to serve up mince! it would seem not much has changed, we had no car, washing machine, freezer, fridge, tv etc., just a crippling mortgage, thankfully we were possessed with a good sense of humour

That must be truly terrifying. I can’t get my head around it actually

Single mum of two young ones here. Significantly more savings than £100. I could not sleep at night otherwise

Barely any savings and a big credit card bill. But instead of kids I own a horse, who at the moment costs probably as much as twins to feed and for the vet bills. Maybe more actually. If I got rid of him I'd be so much richer, no debts, could probably buy a house in a few years, but I'd be bored and could never sell him.

Do feel a bit jealous about others with tons of savings and houses, but I kind of figure most of them are older than me, have gained money from family dying and really just from being in the decades where most people could buy a house, unlike now. I mean you used to be able to buy council houses for a grand, and now they are worth way more than that. I'll never have that opportunity.

But we all have different lives. I'm happy with mine and have a plan to get a house so might have one before I'm 30.

Ooh well done Savvy Saver.

I had children, but the crystal ball failed to show me I would end up a single parent with a disabled child to care for so wouldn't be able to work.

So, yes, I'm on benefits. I have £100 in savings at the moment. We've just been on holiday (shocking! But I didn't use benefits money, don't worry. My mum died so I used what little she had left after funeral costs) so I'm hoping to save up a bit, though being the summer holiday probably not much. Then it'll be nearly Christmas. Then my kids birthdays. Then summer again. Etc etc round and round it goes.

Obviously I shouldn't be able to save anything as I'm on benefits. Or I should have shoved my kids back when I split up with my ex (they're bigger than me now so would have been rather interesting!)

I'm just hoping nothing breaks. The washing machine played up last week but I managed to fiddle about and fix it. The oven is on it's last legs, so I'm mainly using the hob, and hoping it'll last a bit longer.

It is scary, and I don't like it, but there's not much I can do about it. Buy a lottery ticket?

No savings here. We live month to month, mostly in overdraft.

Ridiculous savvy. People are good parents or not good parents it doesn't matter how rich they are.

What a naive silly comment.

We have no savings, not 1p left at the end of the month. And we earn really well.

But I’ve got a credit card (empty) with a £24,000 limit if something goes wrong 😏

i have zero savings (but no DC). cant afford to save while also paying high rent, cant save for a mortgage either. family have no money so no inheritance or “loans” for a deposit.

its really shit, especially when i have my friend complaining she’s skint when she owns her house (mid 20s) and has 2 cars at several holidays a year, while also going clothes shopping regularly.

when im skint i mean literally £0.00

I don't have a penny saved. I lost my job a few months ago and I'm pregnant, was pregnant when I had my job and certainly didn't expect to be in this situation! And I've got a dog. Who eats very well and is insured. (Better than I do actually.) I can't exactly send the baby back.

Oh Savvy, may your future be as golden as you expect it to be, and may fate not bite you hard in the arse. I’m feeling tolerant, because I’m assuming you are 24.

Oh ffs savvy, bloody small minded of you. Circumstances change, events are unforseen and life doesn't always deal the cards you expect.
I'm pretty much on the savingless side, after a few life events I couldn't possibly have expected. Such is life, I manage as best as I can.

We’re in a lucky position of being a two income household with no children. We live in an expensive part of the country though.

We moved abroad to build up our savings and made quite a few sacrifices in our twenties and early thirties to set ourselves up for expensive childcare costs/me going part time if that day comes.

We have bugger all. I have space on a credit card for emergencies which is my back up plan.

We can afford most stuff we need and some stuff we want month by month we just don’t have spare cash for savings.

We were like that when DC were small. We also had £4000 credit card debt. It terrified me, I had so many sleepless nights worrying about money and what we would do if (insert fear here).

Happily we got through it and are now comfortably off but I can honestly say that the best thing about having money isn’t what it can buy us but the peace of mind it gives me.

OTH a close friend of mine is definitely within that category and it doesn’t bother her at all. She suffers quite badly from anxiety in other areas of her life but never worries about money and was surprised to hear that I do.

I must be one of these dreadful irresponsible people - that redundancy I went through was clearly lack of foresight . Best have the kids adopted and the cat put to sleep. Some people really have no fucking clue.

We've obliterated our savings with a recent house purchase but from now on we'll try to put something away every month. I have a credit card for unexpected emergencies.

Single Mum here, no savings, literally 37p in my bank to last till next week, and now live in one of the highest poverty areas (all I can afford to rent in) will never own a house have nice things etc
Major fall from grace after having a good career in a major city, being made redundant then getting pregnant (accident)
Was never encouraged to save by my parents growing up, never really understood the importance and wasted my high salary every month on (nice) stuff.
Well now I have no stuff, but ironically no money worries either, how can I worry about what I don’t have?! Life is far from easy, but I know the mistakes I made and so wont allow my children to follow suit, that’s all I can do really, I’ll raise them up higher then mine did me and my siblings (siblings pretty much the same both work but no savings and piss their money away on stuff)

I'm not surprised. Me and DP both work but are down to the wire every month. We have enough to live on but if anything unexpected happens (car trouble, washing machine breaking down, ....) we really struggle.
I currently have just over £100 in my savings account but not for long as car has a slow puncture.
If something major happened like landlord selling house, we would probably be homeless until we could raise deposit and first month which is scary.
Ideally you're meant to have 3 months wages to cover any eventualities but a lot of people would struggle to raise this IMO.

I have £93 in my savings account. I need to buy school uniforms and a birthday cake out of that so I will have no savings by the end of the month.

I also don’t think I’m irresponsible

I’ve got insurance for EVERYTHING! Dog/personal liability/house/car/income

I’m surprised it’s only 2/5 to be honest. Dh and I have well paid jobs and we really struggle to save, and not because we’re particularly frivolous either. Life (especially with children) is expensive! We used to be on a lot less and it was so, so tough. Even putting food on the table was a struggle so savings, inevitably fall down the pecking order.

I am one of the 2/5 then. On the face of it I am an educated professional but I work reduced school hours due to childcare commitments and being a single parent. My financial ends no longer meet and we have 2 out 4 weeks per month with no money. Only a year or so ago it was just a couple of days at the end of the month, and 2 years ago I managed to save up £400 to take us camping for a week. No chance this year, although we ARE going camping for 5 days with exH as between us we can just about pay for it as long as we cook for ourselves and don't eat out.
I am both glad and sad to hear that I'm not alone.

We have some savings. Not a massive amount but enough that we'd be able to cope for a few months if anything happened. On the plus side, we have a small mortgage which will be paid off in about 5 years and we have no debts. I've paid off my car and DH has a company car so no expense there.
We're probably luckier than a lot of people, but at the same time day to day living just seems to be getting more and more expensive, groceries, electricity, insurance etc.
DH works FT and I work PT, so we are both earning, but he earns a good bit more than me.

SavvySaver24

Should really be called Goadysmugcunt

I'm surprised it isn't more than two fifths with less than a hundred pounds, especially amongst younger people. Many are glad just to get by each month.

What usually happens is when they get older their finances generally improve for various reasons and they can relax a bit.