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?

I have 10k instant access , 52k stock n shares ISA , 1.2m locked away .

@MavisChunch29 What are all these emergencies that you might need the money for?

Loss of income is usually quite high on the list.

About £20k but that's because I'm planning a bathroom remodelling.

I have 0

I think a better question to ask would be ‘how many months of expenses have you saved in an easy access account?’

For me it is 12 months. But I have a fairly precarious work position.

We currently have 5 months, but the majority of that is for a new kitchen. So in reality we have slightly less than one month currently. I am working on building that up though.

However it is only in the past couple of years that we have had the opportunity to put anything at all in a savings account, so I feel very lucky to be in that position at all.

Interesting.
In what way is my OP a brag? You will notice I didn’t once mention how much I have saved or what my savings are in relation to salary.

I specifically asked people about how much they save in easy access accounts and whether they keep months of expenses in low interest accounts.

If a post on finances triggers you to the point that any mention of having savings is seen as goady and braggy to you then perhaps you should steer clear of threads that are clearly about savings.

What are people's interests on the instant access /easy access ones?
My best has 2.2%

I'm 30 and I have no savings.

Losing your job?

I’ve got 6months if my base salary in easy access and another 3 locked into bonds.
hoping to add another 6 months worth over the next two years and then target having 6m worth of my base + bonus over the next 3.
it’s not been easy but I aim to save at least £800 a month and more when I have events to save for! On top of this we’re also saving for our wedding and need to save 25k by June 24 which we have 9k of so far! Fiancé tells me I’m obsessed with saving…I just say I’m from Yorkshire and I’m tight 😅

My monzo is 1.7% not great but I just really love the app. I can’t be bothered opening an account with another bank just to access marginally better rate. I like the interface and being able to see my ‘pots’ of money altogether.

My current account is with Halifax and they still aren’t offering higher than 0.45!!

This thread isn’t very indicative of the general population (25% have less than £500 saved) so for those of you with zero you’re far from alone.
despite earning quite a reasonable income we have never been able to save until recently, and then it’s only a few thousand which will be eaten up when the kids go to uni. I was hoping to go pt then but doesn’t look like that will happen.
those of you who have all that saved must have really well paid jobs, or tiny mortgages?

We are lucky to have quite decent savings and instead of getting minimal interest we put it all in an offset account tied to our mortgage. This means we don’t pay interest on the difference between our loan amount and savings yet the money is instantly accessible if we need it. Hopefully this way we will pay off the Loan much more quickly than we would do otherwise and then we can pay off the mortgage. But that at that point we will have no savings at all (but no mortgage either)

@Buckland123
we are not well off but been lucky (not the right word) with a number of inheritance payments over the years. That means our mortgage is relatively small

@Sellorkeep agree on how many months as opposed to how much.

We have about 2 years in instant access as well as the tied up stuff. I always assume we have far more savings than most but most people don’t share this level of detail.

Around £6k in accessible savings - I'm only 1 year into running at a profit after years of low income/ high childcare costs. My career improved significantly about 16 months ago after years of earning peanuts. It's my getaway fund to escape a miserable marriage, so it'll be depleted fairly soon.

I use Moneybox exactly for that level of interface so I get it

If either of us lost our jobs we're on three months' notice.

I have about £8k in easy access. That would cover four months of outgoings but that's without all the extras.

I feel very fortunate for this money. I also have S&S ISAs but I try not to touch those.

those of you who have all that saved must have really well paid jobs, or tiny mortgages?

I guess it depends on perspective. We have above average income for the rest of the uk but probably just about average for London.

Mortgage is ~26% of income, I’m not sure I would consider that particularly small, and we have always saved around 20% however until recently that has always been saving towards a thing and then ultimately the money got spent, deposit, wedding, renovation etc.
Its only recently the money is freed up.

About 2 months wages between us, so around 4 months outgoings. But we're in the process of selling and buying, so will be adding about 6 months combined salary to that once we've moved.

And then we'll spend the lot on a garage conversion and our first holiday in almost 6 years.

We've also overpaid considerably on our mortgage so we'd likely be able to take a repayment holiday.

Atm. Easy access. 10k with an interest rate of 2.15. 95 day access 32k with interest @ 2.55. 8k with one day access @ 1.75

I have about 28k invested which I'd pull out of