To ask how much you save every month

[HukkaPukka]

I'm just getting on top of things after covid-related financial mess and managing to put aside about £300/month. How much do you put in your savings/ISA on a monthly basis? Do you save/budget/feel it's a priority? I'm trying my absolute best to budget to the finest detail now and save every penny. Last year taught me not to take anything for granted.. Just interested how everyone else feels?

We’ve just started to get serious about all this. We’re trying to save £500 for long term, not touching it and £500 for house projects / maintenance. Haven’t been able to save for the last ten years due to young family so this is all new! Also saving for short term things to even out the monthly costs like Christmas and birthdays. It’s pretty ambitious but we’re going to give it a go.

I save £350 into a saving account, plus the money that goes into my pension & I’ve just set up a Plum account that I want to aim to use for holiday spends

30 a month, which is stretching it for me. Every month, I have to try to work out if it is possible.

£500 a month between dh and I. £400 is split between two help to buy isas and £100 into a savings account. We earn 24k a year. Just mentioning income as i feel it's hardto gauge if your saving a good amount without it. I'd like to save more but we cant right now

@LawnFever what is a Plum account?! @MeanMrMustardSeed that's a great goal! I've been saving for a few years now but had to use up pretty much all my savings because covid stopped my work for months.. Having to start from scratch again, but feel very lucky to be able to. Times are so tough at the moment.

We have lots of savings for different things:

• £300 pension (that’s just mine DH is defined benefit)
• £500 holidays

£600 mortgage overpayment £500 stocks and shares isa £100 Christmas / misc

We don’t have any kids yet so fortunate to be able to save a decent amount.

At the moment £400. I have been dipping into it though but from this month thats stopping.

I aim for £1000 a month. I move that amount over on the day I get paid and the budget on what I have left. Occasionally additional expenses will come and I might need to move some back over but I only do that if I absolutely have to. Wouldn’t move it for say a new pair of shoes I fancy.

About 15 years ago, I had a really rough year. Broke up with a boyfriend, got left with bills he was meant to pay but hadn't, had taken out a loan on a car which then got written off after only a few months. I was at the point of buying my week's groceries (budget £10!) with a cheque in the final week before payday, because I knew it wouldn't come out of my account immediately. I also had store card debts and red letters coming through.

I managed to get myself out of that hole, and since then, have saved around 1/4 of my wages each month as a security net. I've dipped into those savings for big costs over the years, like special holidays, a house deposit, a new boiler, nearly-new car bought outright etc.

Currently, I've got just over 6 months wages saved, and don't really have to budget for things like food shopping/ treats, but I'm not very good at splurging or spending much on myself. I prefer the knowledge of the nest egg over any thrill from spending a lot of money.

@Peanutbutterblood DH and I earn currently similar to yours (used to be more pre-covid). We do have 2dc and a mortgage already, but if we're not careful the money just goes.

Long term locked away savings.... normally £200 a month. Sometimes more depending on my income.
However in total I save £950 a month. But the rest isn't really saving. It is budgeting.
So £100 a month on Xmas. £200 a month in to the holiday pot... £100 a month in to the car pot and so on.
I find having a monzo bank account has completely over hauled the way I look at money.
I move it all in to the different pots on pay day. And leave my self with what I need.
The long term savings I put in to premium bonds.

We aim for £1000/1200 a month but sometimes its spent on other things. Recently it has been spent on the loft, some furniture, paint and next will be on sorting the garden. We have a new house and its been expensive to get things sorted.

@Significantown don't give up! Even £10 saved is a £10 you haven't spent. I was in the same position before and gradually I'm clawing my way back out

Have always been a saver and always put the savings amount into my account at the beginning of the month so it could not be spent.
Dh and I saved to retire early (52 and 53) so we have now switched from saving to spending.

Covid has comtmchanges my spending ha it a and like you I am trying to get on top of my savings. I haven’t been able to save for quite some time as I was widowed. I got a head start as I had some redundancy money left over before I started a new job in nov. I save £500 per month currently and am trying to get enough saved for a years worth of costs should I be out of work again. My savings get transferred first I treat them like a bill. Pre Covid I would go into my overdraft and not think about it but now if I don’t have the money for it I literally don’t buy it! This has got to be the good thing about Covid for me sorting my financials out.

I do try to save but don't have a set amount just guesstimate what I will spend in the next month and move anything left across on pay day. If there is anything left just before next pay day, I move that across too.

If I don't think I can save any I don't move it across. If I have moved too much across, I move it back.

It's very hard to say, I aim for £1000 but that's distributed to different pots.

For example, I put away £80 a month for car expenses and £80 towards holiday spending. Three times a year I get paid for five weeks work, the extra weeks pay goes into a Christmas pot. Whatever is left goes into a main savings account to go towards planned home improvements. I'm also looking to transfer a lump sum into Premium Bonds and essentially forget about it.

What I will say though is that after the shit show that has been the last 12 months (pandemic aside, it's been shocking for us) I plan to do a bit more living and a little less saving!

I save £300 at the begining of the month (payday) then whatever is left from my 'fun' money at the end of the month, currently about £200 but in normal times more like £50. DH is currently saving £200 in to stocks and shares ISAs and the rest is paying off his credit card, which should be done next month. Then he'll save £500 in stocks and shares and £300 in cash.

We also save £100 per child for 2 children (we have 4 but 2 are provided for in another way). And we have car savings at £130 per month in addition.

So currently £900ish, soon to be £1200ish.

We save £20 for my son and £20 into a lifetime ISA for us, some months we don't though as we just can't afford it every month.

Wow some of you put a lot away every month. Im impressed.

I save about 10% of monthly take home pay and have done for years. Now seems utterly insignificant reading some of your answers

£100 a month to each child’s account

Just over 30% of monthly income to our savings account

Sorry, forgot to say we have 3 children

We save £1000 to £1500 a month each and we move the money over on the day we get paid so it’s never spent.

I have a pension and don't really need to save any more but I put £60 per month into a savings account for Christmas. I am also paying £100 per month into a savings plan/policy which has two years to go before it pays out.

1/6 of my salary goes into savings every payday. My rent is astronomical so it's all I can do for now, but it builds up over time.