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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask how much you have in savings...

224 replies

MakeAHouseAHome · 09/10/2018 20:25

We have just transferred virtually ALL our money over to our solicitor for our first house. I have gone from having nearly £60k to much much less than that.

I know everyone does it haha, but just feeling un-nerved at losing that nice safety blanket and I will be immediately starting to build it back up again.

Just interested in how much people have in their savings accounts?

OP posts:
DrDreReturns · 09/10/2018 21:09

£50k. But after buying a house (both times) I had nothing.

mloo · 09/10/2018 21:09

yeah always found spending money difficult. Neurotic about it, I suppose.

myidentitymycrisis · 09/10/2018 21:11

leghairdontcare love your name!

BigSandyBalls2015 · 09/10/2018 21:12

I don't get why people with lots of cash penny pinch, why not enjoy it? Might get run over by a bus tom.

Jazzmin · 09/10/2018 21:13

We are doing the mortgage thing too. No savings, but we can dip into the mortgage pot if we need to. In the meantime it offsets our mortgage so we don’t pay as much interest. Done this for several years. Took out money when car needed replacing, but generally for us it is silly saving when you have a debt ( unless saving interest rates are high, only works as we have offset mortgage.)

RhythmStix · 09/10/2018 21:14

Around £80k plus we are homeowners.

basquiat · 09/10/2018 21:14

Quite a lot but that's to buy a house. So we'll be where you are soon enough.

I'd rather have the house than the money though!

blueangel1 · 09/10/2018 21:15

I have a reasonable amount of savings, but I lost a load of financial security when I got divorced a couple of years ago (exh was a high earner and I'm not). I'm therefore very careful in case things go tits-up further down the line and I spend it carefully.

GeeLondon · 09/10/2018 21:15

Bought a flat in London last year . I have about 6000 plus chip account which has a few hundred and a H and L account with a few hundred ( avoid checking ) .

Awful feeling isn’t it transferring the money . We’ve had to do a lot for our place and also slowly but furniture .

No idea what my bf has - few thousand maybe 4K . He also has a BTL property that I’m not involved with that has some equity .

Another middle ground person here .

DragonMamma · 09/10/2018 21:18

Another middle ground person here. I did have around £9k a couple of months ago but down to £3k after replacing the boiler and doing other stuff around the house.

We overpay on the mortgage also. Best thing I ever started doing and put us in a much better financial position to buy this house have overpaying on the last one.

Celebelly · 09/10/2018 21:18

At the moment, £80,000, but that's proceeds from a recent house sale and will be mostly going into our mortgage in due course, with some kept for emergencies, new car, etc.

We have another couple of properties to sell (we're not tycoons, one is my partner's late mother's property, and one is my little house I bought years ago and then rented out when me and DP bought this house) but again any equity from that is pretty much all going to go into mortgage.

I remember transferring our deposit for this house - it's a disturbing feeling watching all that money vanish! coupled with the panic that even though you checked multiple times, what if you sent it to the wrong account?!

beeefcake · 09/10/2018 21:19

About 5 pence (I don't know how)

pontiouspilates · 09/10/2018 21:19

About £100K. Homeowners. Had less than £2k for years

ButchyRestingFace · 09/10/2018 21:19

About £250,000 at the mo. But considerably less when I buy again!

KanielOutis · 09/10/2018 21:19

About £600. I save £50 per month, but tend to spend as quick as it builds up.

bruce43mydog · 09/10/2018 21:20

£20,000 won it on the lottery. Other than that low earners. So with out the win by the end of each month would be biting nails waiting till pay day. Keeping hold of the win as it's a nice nest egg for the future 😌

Saltedcaramelcake · 09/10/2018 21:21

About 10k, but in the space of 2 1/2 years we've bought and renovated a house, got married and had 2 kids (2 X 12 months mat leave). Should have asked me 2 1/2 years ago, it was considerably more!

Chocolate1984 · 09/10/2018 21:23

£112,000 but that will be wiped out with an extension.

youlittlecharmer · 09/10/2018 21:23

about 4.5k across a joint ISA and private savings. but also 2k on a credit card (0%) and go into overdraft every month. not a homeowner, no kids, single income couple (husband is a student). aiming to save 20k for a deposit but feels painfully slow!

Tiredofit · 09/10/2018 21:24

£0 savings, £9000 debt on credit cards. We are a low income family but have just made the last payment to our mortgage, yay, and so will now hit the credit cards hard then start saving.

BitchQueen90 · 09/10/2018 21:25

£75 in mine. I have an ISA for DS with about £1000 in it.

I am just about to start saving for a mortgage as I currently rent. I'm a single parent so I don't have loads of spare cash, luckily I live in the dirt cheap end of the UK and I can get a little property for less than £100k. So that's my current goal. I'm not bothered about having loads of money, just a bit of security and you don't get that in a private rent.

Screamqueenz · 09/10/2018 21:25

£7.5k, but good income and spend almost all of it. I could be more careful if I thought it was important.

Desperada1234 · 09/10/2018 21:28

Nothing, but I have three houses with no mortgages.

2018SoFarSoGreat · 09/10/2018 21:28

totally normal to empty the pot when you purchase your new home - but still feels pretty awful! Terrifying in fact. The great thing is you get a new home AND you know you can save when you need to, so can slowly start building the pot back up.

Last year I sold and then bought, and for a few strange and glorious weeks I was a millionaire. Then it was all gone. Poof. Just like it had never been there. Still, we do have a house fully paid for so no complaining from me. We are the lucky ones!

DieAntword · 09/10/2018 21:28

I don't get why people with lots of cash penny pinch, why not enjoy it? Might get run over by a bus tom.

Maybe they enjoy the feeling that if they don’t get hit by a bus they will have financial security?

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