How much do you have in easy access savings compared to your monthly outgoings?

[luxxlisbon]

I thought I wasn’t doing too bad for savings but if I thought about covering 3 months expenses I actually don’t have anywhere near.

AIBU to think not a lot of people really have months of expenses in an easy access account, particularly in a time of 10% inflation?

How much savings do you have available?

So people can never talk money strategies because someone else, somewhere, has less of it than them? Maybe if we all talked about money more, the disparity would be addressed systemically instead of swept under the carpet.

Nothing. But am on a good salary in a secure job that can cover most emergencies and have nothing on my credit card with a £10,000 limit. Once I've paid off a loan I want to pay more into my pension. I've never had a rainy day fund and have never needed one. I save up for specific things but never just "for emergencies".

£3.5k technically in "easy access"
But I can withdraw from my ISA easily within a day, and premium bonds only take a couple of days or so. So So I'm closer to £17k if I need it.
I have more money tucked away in shares and a fixed rate bond. It's spread out, so it's not all locked away for years on end. If there's an emergency, I have some.

@Applesandcarrots I suppose a month or so notice is still relevantly easy access!
All the higher accounts I was seeing were locked in for 1-3 years so I was just trying to weigh up the risk of easy access vs inflation.

What are all these emergencies that you might need the money for? I don't really see the point when savings accounts have such low interest.

Emergency emigration.😁

We have ample/multiple savings (cash and investments) but if we lost our jobs our outgoings would reduce too
we wouldn’t need childcare
we would spend less on car fuel
and I could get rid of a few subscriptions

as it stands out household set monthly bills are approx 300 per month
childcare 100 per week
food 120 per week
fuel 150 per week

we save 1.5-2k per month and that’s not minding our spending

Absolutely nothing

Nil. But I just left abusive DH. I have 750 locked up and I'm going to start adding to it when I start getting an income again.

My instant access with no restrictions has 0.4% interest. (Big rise! From 0.1...)
30day notice 2.2%

I looked at some investments but looking at my stocks😂 nah

Interested in why you came to use mumsnet if you're childless by choice? Genuine question, not a criticism or anything.

The sort of money we'd need to put away to save up for 6 months' outgoings I'd rather spend on a nice holiday every year.

I am childfree...

Because the topics aren't just about babies

Absolutely nothing

Why no pension if you don't mind me asking?

I have a pension and then about 100k between ISA, premium bonds and savings accounts. Some will go in house sale. I am not really sure where best to save it to be honest as it seems to me pension is best option for long term due to gov paying in, it being before tax, and in funds. I'm a bit worried to put other savings into stocks/funds incase they plummet - and if i am not accessing short term is it not better to have the money in my pension fund?

I am not that financially savvy. Didn't come from money but now have a good job so while I was taught well re saving, not so much in terms of what to then do with saved money.

I had planned to transfer about 20k out into s&s but the ones I already have are tanking. Was going to put it in a savings account but the rates are still not great.

Probably because it's the biggest single forum consisting of a largely female demographic available?

There is SO MUCH information and knowledge available on this forum that has nothing to do with children or parenting (this thread being an excellent example). For what it's worth, I came across MN when Goggling tips to make a stinky washing machine smell better, stayed for AIBU.

There are loads of people without children on MN (whether by choice or otherwise), I can't possibly be the first one you've come across?

The point is I earn well so can live off less but am self employed so money isn't guaranteed. I therefore like to make sure I have a buffer. I am also conscious of saving for my kids as I feel their future will not be as easy as my present and as I chose to have them, I want to be in a position to help them out.

But that’s not what Daisy said at all. Your OP looks like a brag to me.

About half a month's income, in the current account(s), all earmarked for stuff.

No emergency fund.

Split over savings, investments and current account I could cover expenses for a couple of years but only because in my younger days I was a working single parent living hand to mouth I promised myself I'd never be in that position again, as I've got older, DC grown up, career progressed I've saved every penny I can and it's been hard, when DC were little I had two jobs, one of which was a cleaning job before I went off to my "proper" job.
Read a thread on MN this morning from a lady who didn't have £2.50 for her DC to attend a school party, been there, done that.
I feel very sorry for anyone either starting out on the housing ladder or trying to raise DC now

We each have about one month's wages.

I very strongly disagree that it was a brag.

If OP wouldn't say it and engage, they would just look like journo.

It's like telling someone they are bragging when they are discussing goose recipes for Christmas because it's more expensive than turkey🤷🏻

I have £11k in a standard savings account and around £60k in ISAs and invested, personally.

With DH, we don't have any joint savings but we live off the quarterly return from the family trust.

Which all still seems weird to me as I grew up in a single parent family, council flat in a lower working class area

Early 30s married with one child. Both high earners.

We have 40k in normal accounts, but looking to transfer about half of that when we hit 50k.

About 400k in longer-term investments. Could access if needed - will look when our mortgage rate when it runs out, and we’ve spoken about paying off half the mortgage to reduce our payments.

Not sure on pensions for DH, but mine is low at about 25k, so that’s my focus currently.