To ask how much you have in savings and what you are saving for?

[Watermelonade]

Before anyone jumps on me, this is not a boasting thread. A few years ago we had nothing and felt like we were drowning, so now I am very cautious with money and save, save, save.

I have 8000 which is strictly for emergencies and is never touched.

Then I've just started a holiday fund which has a small amount of 550 in it.

What about you?

Oh and £3.5k sat with TUI, they've offered us cash refund but if we keep it with them we get a 20% rebooking incentive so will let them keep it for now!

Thank you @WeAllHaveWings

About 6 months salary, which I hope I could eek out over a year if needs be. Probably could as there would be less outgoings. It's just an emergency fund in case of unemployment so I can keep paying for the house and kids. I've got a separate savings account for my 50th. I want to go on a round the world type trip.

@thatcarolebaskinbitch

Oh and £3.5k sat with TUI, they've offered us cash refund but if we keep it with them we get a 20% rebooking incentive so will let them keep it for now!

Just to flag - if TUI go bust for any reason, you'll have no guarantee of getting all or any of that money back....

62000

Saving to pay off my mortgage when the fixed term deal ends in just under 2 years.

I won a cash competition last year - and cleared all my debts and mortgage - I have no savings but have peace of mind

I've got around £3.50 in my savings account. Saving for a beautiful countryside mansion

So many of these responses will be made up anyways. I'm with pinky on this one

My savings 52k in savings in bank accounts and around 15k in cash but we have no debt or mortgage just normal bills
DH about 30k in savings and I think about 11k in cash
The lockdown hasn’t really affected us money wise .Its been business as usual and I have actually saved money

I’ve got 6 months pay saved. Not for anything in particular but I split from exH last year and he had been very financially controlling. It’s been amazing to take control of my own finances and save that money and now feel if I need to buy something I can. I made a decision not to be frivolous with my money until there was a set amount (which I won’t say on here) and I got to that point 2 months ago. It was an amazing feeling.

Almost enough to buy a house mortgage-free.

Saving to buy a house mortgage-free.

Oh and £3.5k sat with TUI, they've offered us cash refund but if we keep it with them we get a 20% rebooking incentive so will let them keep it for now!

It would be much better to take the cash refund now. If they go bust, which is not an unlikely scenario given the circumstances, you'll not see your 3.5K again.

@PhilTheGroundhog to prove myself right. There are a lot of gloaters on this thread! And a lot of liars by the sounds of it.

Only about £2500. I wish I was able to save more though. It’s been stuck at that figure for a while as it’s been dipped into then built up again but then dipped into again - kept mainly for car repairs, house repairs and any other urgent unexpected things.

£3,000. Not for anything in particular. We could have saved more for certain but I enjoy spending money too much.

I have enough to cover 4 months salary if I lost my job tomorrow, between 2 regular savings accounts. And a post office book with another few hundred in it for fast access.

1 account is mostly for regular spending - Christmas, holidays, return to school costs (books, uniform etc) and school fees, bigger car maintenance costs and other big annual bills etc. I add money to that by a salary sacrifice from work, so it builds up every month and the money has never been in my current account.

The second is for longer term hopes - emergency fund, new car costs, replacing white goods (washing machine packed up last year for example and needed replacement in a hurry). I am also hoping to buy a sailboat in a few years time, so those savings are going towards that too. (But I know that may well be a pipe dream). This is built up by a monthly standing order from my current account and occasional additional sums if I have any spare. I do try to not withdraw from this unless necessary.

I have an occupational pension which is good so I don't save additionally for that.

The thing is, half of the responses on MN about money are probably made up anyway. I never trust money threads on here. If you did, you'd come away thinking 80% of MN were part of the wealthy 1%.

Not comfortable sharing amounts, but goals and types:

• Each of us has a savings account with a few thousand, in same bank as our main current account, which we use as a 'buffer', allowing us to move most cash out of current each month, so if current account card's ever stolen we only lose a small amount. Also allows freedom to move money in and out as needed, when a work expenses claim doesn't arrive in time for the credit card bill etc. Crappy interest rates, but worth it for the flexibility because you can move money back and forth in seconds.

• Separate cash savings accounts at the highest rate of interest we can find, regularly reviewed, to keep our emergency fund for 6 months or so living expenses, plus put bonus in there instead of investment accounts if big spends coming up, like car replacement or new kitchen. We keep some in an instant access account, and some in higher interest accounts which take a few months to access.

• Investment accounts for (1) pensions, and (2) school fees, university fees etc. These are longer term, different risk levels, different return levels.

I cannot imagine why anyone on the net would put this information especially with an site that has been hacked more than once

About 6 months living expenses, and then various pots on monzo for things like Christmas, car service/MOT, school uniform, etc.

@Starlightstarbright1

I cannot imagine why anyone on the net would put this information especially with an site that has been hacked more than once

What would people do though - hack into people's separate savings accounts/current accounts/ISAs/stocks and shares? Even if you managed to figure out who was posting what, bank accounts are just numbers with no names attached. I'd say it's a lot more risky having a big house and nice cars on your drive.

@laurenlodge @stealm it holds the same ATOL protection as the holiday did

Let's see, there's £5K under the mattress, several hundred pound coins in a jar on the mantlepiece, a grand stuffed in my bra and some winning scratchcards behind the fridge for emergencies.

Irritating pointless thread

Just about enough for 9 months if DH and I were to quit teaching.