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?

6 figures accumulated from matched betting over 4 years

£400 in the wedding fund and about £2400 in the house deposit fund, will get a 50% bonus on that at the end of the year though

OP, I would take a few of these responses with an extra large pinch of🧂

Love these threads, people either have 20 million or £0. I have £11,700 and £1000 in my cat fund for emergency vet fees.

I am 48, don't have a pension, I rent and I'm self employed so my income varies. I'll be working till I'm 80.

Love these threads, people either have 20 million or £0. I have £11,700 and £1000 in my cat fund for emergency vet fees.

I believe this is called confirmation bias? I'm not sure. But basically you're just noticing those ones more. Sure, there are a fair few people on here saying they have high 6-figure sums and a fair few saying 0. But if I read back up just this last page of the thread, I'd say MOST replies are somewhere very much in between 20 million and 0.

For example:

£400 in the wedding fund and about £2400 in the house deposit fund

3-4 months of living costs.

I have a lot 25k.

I''ve got £1,000 in an emergency fund that I don't touch + £9,000 in my savings for a house deposit.

£850. Started saving a month ago after having a baby.

£35k jointly with DH.

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

Let's see, there's £5K under the mattress

About 6 months living expenses

I have enough to cover 4 months salary if I lost my job tomorrow

£3,000. Not for anything in particular

Only about £2500.

I’ve got 6 months pay saved

£1136.

I have just under £11k saved

Joint account: 13k

etc.

Plenty, due to inheritance so it came at a big cost.
I've invested it so I can retire from nursing at 55 when I can also claim half of my pension.

To all the people thinking the thread is irrelevant, I'd wish they would pass without comment.

I find threads like this interesting, why does it have to be relevant?

I like to see amounts but also goals and plans, it's interesting.

About £6K. For emergencies.

And £12K and counting in a special account for DD to go to Uni if she wants (living costs).

Around £800k.

It’s currently tied up in rental property but I’m selling now so will have it very shortly. It’s lovely to be selling and not have to move - much less stressful.

Around £800k.

It’s currently tied up in rental property but I’m selling now so will have it very shortly. It’s lovely to be selling and not have to move - much less stressful

28% tax on the profits though.

15k saving for new kitchen and bathroom plus roof repairs

Oh unless it’s your home. Doh

6 months of salary combined me and DH
About to have our drive and garden done so about to reduce.

Three years income and most of it will be used for our sons university tuition so he doesn’t have to take out student loans. Tuition Is really high in the US, he’s going to an average priced one and the tuition is 40K US.

I have enough to do some home improvements and to pay off a chunk of my mortgage when my current deal is up. It'll bring my mortgage down to £60k and I'm so pleased I worked my ass off and saved. My plan is to be mortgage free in 10 years max and then start saving to retire early.

@LondonCaIIing explain conformation basis please?

About £50k cash, same again in shares and then some tied up in a rental. Not sure how much DH has.
I'm not saving it for anything in particular, the truth is I don't really like to spend my money and I don't have to so it'll just sit there. DC are still young but have savings of their own for deposits etc. I'm only 30 so maybe one day I'll have enough to the point I'm comfortable spending a few k on small indulgences such as expensive bags, watches etc but for now that is DH domain.

I've realised there's not much mention of pensions - do people count that as savings? Or not use pensions so much these days, favoring property investment?

About 16k, soon to be more like over 60k not including his pension but I lost my husband aged 34 so frankly I'd rather be skint.

@DoubleTweenQueen I'm only 22 so I have only been enrolled in my pension scheme for 6 months and pay a measly £34 a month, so no mine doesn't include my pension

@DoubleTweenQueen I've only got a workplace pension. I could put a small amount away in a private pension but then I'd have absolutely no spare cash to do anything or take DS anywhere nice. I've pretty much accepted the fact that I won't get a state pension anyway (I'm 29) and I'll be working until I drop dead so I'd rather enjoy my life now.

@DoubleTweenQueen

I've realised there's not much mention of pensions - do people count that as savings? Or not use pensions so much these days, favoring property investment?

I personally don’t consider my pension to be savings, I only count money in bank accounts, ISA’s etc.

We're in the process of house buying so most of our savings have gone on that. We just got the solicitors invoice yesterday! That said, I've inherited a significant sum (circa £40k) which hasn't gone through probate yet. Not thought about what we will do with it. Like you OP a few years ago we had nothing, I lost my job and was unable to find work. We were living on a single salary and struggling to make ends meet.

Pensions are not accessible so not really relevant to most people. You could be starving to death at 53 and still not able to get your money out.

@getoffmysocks look at a stocks and shares ISA. You are saving more and more cash which is being eroded. Since 2000 the inflation in the UK has been 57%. In 20 years every single £ has lost more than half its value.