to ask, if you're under 35, how much do you have in savings?

[Flangelica]

Bit of a CF question, but I am just wondering how good/bad to feel about my current savings. Considering a move back to the UK but very unsure of what level I'm on in comparison to people my age in the UK (I'm 33).

If you don't mind letting me know it would be really helpful! If not, thanks anyway.

Have name changed (clearly) But I have just under £50k in savings and own a £550K flat in London that I've just paid off the mortgage on. I'm 31.

And no I'm not lying mumsnet, I just have a well-paid job, am thrifty, and I inherited substantially.

I really don't know why anyone bothers asking money related questions on MN. It's a brilliant opportunity for all the bored compulsive liars to feel smug about their pretend millions.
OP, do as a PP suggested and look on google.

YABU as you're a bit cheeky asking for personal information and unwilling to give it yourself. Also, a much underused resource called Google would have given you the answer

Thank you for going to the trouble to namechange to answer my question! Really appreciate it. And also, good for you! 😊

(just want to clarify that my last comment was genuine! Just read it back and it looks sarcastic - it's not!)

I’m 28 and have about £11,000 in savings. Most of that I’ve saved on minimum wage. Most of that has been saved while living at home and the rest since renting from my boyfriends parents (so highly reduced rent).

Would have more but I like holidays and had to buy a new car a couple years back. I tend to put £100 away each month (use
to be £200 but can’t afford that anymore 🥲) I work about 38 hours a week.

Any money that would go into savings goes into paying down the mortgage, but our jobs are as secure as you can get in Britain (and if made redundant we would be paid more than a year's salary as a lump-sum).

I’m 29, I have about 2k in general savings and other pots of savings for holidays and Christmas. Like others I tend to build up my savings and then do house improvement ect, that 2k was higher but I just had a new roof done.

Surely whole circumstances make a difference?
I’m 33, own a home (probably about 60% LTV), have a husband and three kids, no debt. We had about £10k on savings until DH lost his job in the pandemic. Have clawed back about £2.5-£3k (but I’m on mat leave so it’ll get eaten!!).

The cost of living (is problematic but) isn’t as problematic as the rate of the recent rise. A lot of people aren’t having the ‘eat v heat’ problem necessarily but rather are having to quite suddenly and dramatically change in lifestyle. Which is hard to do (we did it last year with the redundancy).

Mumsnet could probably help you work out what your living expenses might be OP if you give us some details of your intended location, living situation etc.?

Bit older than you but have 390k equity in the house and 15k in a savings account.

35k in joint savings but soon to be used for a car etc.

I'm 34. We have 5.5k between us. And another 400 in our toddler's savings account.

We already own a house (with a mortgage obviously) so we're working hard to build up six months' expenses for emergencies. Then we'll focus on paying down the mortgage sooner.

Im 35, absolutely 0 in savings, every time i try something needs doing to the car or round the house

A few months of our salary as a buffer. But we overpay the mortgage each month as the interest is more than savings rates. We hav could stop overpaying that in the first instance and invoke a afford a payment holiday if needed.

Depends where you are living. It's bad here but I was in Ireland recently and it's just as bad there.

We pay almost 50% tax on a litre of fuel in the U.K. so it's going up more than it is in Aus and USA as a comparison.

The price of fuel increases the price of everything else too. I think official inflation is about 9% but it feels higher to me.

At 35 and under - £0 savings.

However, at that stage I wasn't working full time, career progression was on hold and I had a preschool age child. Now at 42, I have no childcare costs, have retrained, work full time and due to saving over covid have £20k saved.

In London also.

I'm early 40s. I have 0 savings. ☹️

Gotta love Mumsnet. OP asks 'if you're under 35..........' and the 4th post in is from someone saying 'well I am NOT under 35, but......'

Batshit. 😂

You are being VVVU to ask others without sharing yourself. You can bugger off if you think I'm sharing what's in my savings account. Why are you so self-centred?

And subsequent posts......... including one above my last one. 'I'm 40.........' OP asked for people under 35! 😝Why do people do this?

I agree you need to Google this.

blog.moneyfarm.com/en/investing-101/average-savings-by-age-in-the-uk-how-much-should-you-be-saving/

I am slightly older and my savings have changed wildly over the years. I saved for a house, then bought a house then moved a few times and no have over £100k in savings but am about the blow a lot on a big house renovation projects.

people often answer as a couple rather than individually. Some people have work pensions, some don’t. Some have parents as a safety net some don’t.

this thread won’t help you. You need to confide how much you would need in an emergency (car breaks down, fridge breaks etc) and how much you would need if you lost your job. It’s incredibly personal. Plus are you saving for a house deposit?

Oops - I just did the same thing.

At least 6 months worth of living costs for the lifestyle you would expect to have in the UK (do your research) would be what I’d aim for. I won’t give the figure but this is what we have plus extra funds for holidays, when we want to replace the car etc. One person saying they have 250k because they’re saving for a big extension, or someone else saying they have nothing and if the washing machine breaks they go into the overdraft shouldn’t be what you base whether or not you can afford to make a move back on.

Cmon OP, just tell us how much you have in savings already?!!

(im not telling coz I'm 41 so don't fit your criteria 😂)