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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask honestly...do you have 3-6 months savings or more?

340 replies

sweepeep · 30/03/2022 21:23

Based on a few threads going around...

Do you have enough savings for 3-6 months or more? Honestly...

OP posts:
TheBigDilemma · 30/03/2022 21:31

Yes, took me a couple of years to put them together.

Having said that… one would be lucky be employed again in less than 3 month if we consider how long it takes to apply, wait for the interview and get a job offer while looking for a job without a job. So… it is a money that is there just for my peace of mind.

irregularegular · 30/03/2022 21:31

3-6 months of net income? Yes, over a year's worth. Though planning to spend quite a lot of it in the next year on kitchen and other stuff. We've probably always had at least 3 months as long as I can remember though, and still will do after house work.

Part of the reason is that DH's income is quite unpredictable/lumpy, so we had to keep a big buffer. These days my income is higher, so we tend to largely live on that, plus his predictable element, and save up the unpredicable bit.

SquishySquirmy · 30/03/2022 21:33

Yes, but we're in a very lucky position where we have disposable income every month and used this to slowly build our savings up. We are not loaded but have decent salaries, and live in a part of the UK where housing is fairly affordable for average double income families.
It's going to vary so much between people as everyone is in different positions! Eg, if we earned what we do but lived in London I doubt we would have been able to save.

PlanBea · 30/03/2022 21:34

We've got just over a year. It included a cushion for my mat leave as I'm on SMP but actually we haven't needed it and I'm back to being paid in 6 weeks. Lockdown also helped as we're not in the habit of eating out any more!

TellerTuesday · 30/03/2022 21:34

We have slightly more but it's only because DH worked through lockdown and we had nothing to spend money on that we managed to get it built up, two cancelled holidays also contributed.

We have lived in our house 12 years and this the first time we've ever had any significant savings.

sjxoxo · 30/03/2022 21:35

Yes.. but I really need to buy a new car! Trying to put it off 😬

Yoyooo · 30/03/2022 21:35

We currently have around 4-6 months worth which we're using for a house deposit. Does that count?

D0lphine · 30/03/2022 21:35

Yes.

TheNoonBell · 30/03/2022 21:36

Yes.

Franticbutterfly · 30/03/2022 21:36

Yes, for my own wages, but I'm saving for something in particular.

ChickenSkinny · 30/03/2022 21:36

Yes- in fact at the moment a lot more as we are about to start a house renovation so have more in cash than I would normally.

galacticpixels · 30/03/2022 21:36

I would say we have more than a year's savings (probably much longer as I assume we'd be living very frugally if we were living on our savings). Most of it is for a house deposit so we've been saving aggressively.

Startuplife · 30/03/2022 21:37

1.5 years but the majority of it will be used as our house deposit

emmathedilemma · 30/03/2022 21:37

Yes, I have about a year’s net salary in savings

SarahAndQuack · 30/03/2022 21:37

I do, but I also have a house that needs some quite costly work, which would be a lot more than the value of the savings. In an emergency we could delay the work, but it would be worrying.

NameChangeCity123 · 30/03/2022 21:37

Yes but I'm naturally careful with money

merryhouse · 30/03/2022 21:37

Yes.

We have rather less than we had in 2017 though. One of us is going to have to find a job soon...

LBFseBrom · 30/03/2022 21:38

Now, yes, but I'm retired. I certainly didn't when younger, was permanently overdrawn and in debt! Everything comes too late, however I'm not complaining.

BrinksmansEntry · 30/03/2022 21:39

Yes. But only because the last two pandemic years meant we didn't go out anywhere or do anything and we are saving to move house. Lack of activities for the kids made some money available,no holidays really and nothing to spend on.

Prior to that, I had maybe 1 month savings and DH had nothing.

Fabtasticfanatic · 30/03/2022 21:39

Probably just about, plus about 5 years overpayment on the mortgage which we could get back if needed. Or just not pay the mortgage for that long.

PollyPutTheKettleOnKettleOn · 30/03/2022 21:39

I used to but I've had to dip into it lately. Suppose that is what it's there for!

SafelySoftly · 30/03/2022 21:40

Yes. And there is no but. Well paid jobs, live well within means.

Fedupmum13 · 30/03/2022 21:40

I have about a years savings and my partner will have the same soon when some inheritance money comes through. I've always been good with money and saved quite a lot during lockedowns. Savings aren't for anything in particular at the moment.

TheFlis12345 · 30/03/2022 21:40

We have savings that would cover around 6 months of bills at a push, though we are planning to use some of that for home improvements imminently. We used to have a lot more but buying a house last year used most of it. We are in a very fortunate position that if we couldn’t pay our bills for some reason, my parents would happily cover them without hesitation.

Roundeartheratchriatmas · 30/03/2022 21:40

Yes I have about 6 months.

I’m the not too distant future I may need a new car. I also got nearly worked to death during lockdown so was too exhausted to do anything much for a while even when it was possible.