How much should a 30 year old have in savings?

[Sky1992]

I'm quiet curious to read people's responses

How much do you think a 30 year old should have saved by now and how much do you think they should be saving per month?

My almost 30yr old has 50k but he lives with his grandma so little expense

Mind me asking does he have children etc

I have zero in savings, 33.
The amount a 30 year old does or should saved per month will vary greatly on what wage people have, a bit how long is a piece of string, what they can afford to basically.

There's no such thing as how much a person should have saved

How can anyone answer that?

They can't. Most of the county are scraping by to actually cover bills with a normal wage. Savings ????

A hard question to answer as you don't give much context. Are you renting, paying mortgage or other loans. How much do you earn.
Personally if you are single and have no significant financial burdens then at least 25% of salary. This is the easiest time to save and set yourself up before kids, marriage etc come along.
I like to have a few months salary saved as a minimum so that you have flexibility if you loose your job or want a change.
I like to be financially secure but you might have other priorities.
It's a vague question.

How long is a piece of string?
I was mortgaged up to the tits at 30 with no savings.

on paper i had £0 in savings from 30-32.but had i had put down a 40k deposit which i had saved and was then "saving" £500 pm (on a salary of £39k pa) when i just turned 30 and £1k pm (when earning 48k) in the months before i turned 31. None of this translated to savings as it first 18 months were spent renovating the flat.

Seriously. Savings??? What savings?? 🔭🧐

None. Everything that I earn goes straight out again. (Single parent, 4 children). It really worries me.

Comparison is the thief of joy OP. People have different circumstances so you can’t easily align - plus for example it’s the sort of age where one person may have £20K because they are saving for a house deposit; and another person may have £0 so you think they’re doing worse, but actually it’s because they’ve just bought a house.

I’m early 30s and I have plenty of savings; but I don’t have children yet so am focusing on getting as far up the career ladder as possible and saving as much as I can as I know my ability to save (and progress) will disappear once children come along.

A more sensible question to ask yourself is what is your savings rate per month in comparison to your “fun money”.

If you’re spending £500 every month on deliveroo and getting your nails done, but have no savings, you might want to reprioritise. If you’ve got 3 young kids and are just about managing to keep the bills paid every month, then be kind to yourself.

The way you've posed the questions suggests quite a limited understanding of financial planning. Money Helper might get you off to a better start than asking about what other people save with no context.

Ideally, at least enough to cover a few months expenses in case you lose your job.or have an emergency. In reality, I think this is rare and the majority have little to nothing saved as it's a struggle just to pay the bills. What's realistic depends on your circumstances.

My savings at 30 were zero because every penny had just gone into buying our first home. But if I'd got to 30 without having built up those savings in the first place I'd have been worried.

Theres no amount someone 'should' have

You could have 4 different 30 year old

One still living at home, good job
One married no kids, double income
One a single parent on benefits
One married with children, low income

All completely different financial situations. All different abilities to save

In the current climate anyone managing to save is doing well

Had a big old nothing at 30. A good day was not in the overdraft

Who cares what other people THINK a 30 year old should have? Everyone is in different circumstances and so therefore will have different amounts. I'm 33 and I have less than £5k in savings but as a lone parent I think I'm doing pretty well with the current cost of living.

I don't care if someone else my age has a million in the bank, they're not in my shoes.

At 30 I had no savings, high mortgage, a baby and not a great wage. It totally depends on job, debts, children or no children, whether they have a mortgage etc

How much do you think you should have at 30 OP?

What a daft question. And why in AIBU?

Ridiculous question. Everyone's situation is different. Might have a mortgage kids etc. how can anyone answer. And who decides should

Awaits stealth boast . . .
🍿

When I was 30, we had a couple of grand. This was our poorest time, I'd just had DD2, I was working PT while she was in nursery. DH had been made redundant and he tried a business, this took all our savings and made us £0. He took a low paid job just for some regular income.

At 30 I owned my house, owned a
two cars and four motorbikes, ran two businesses and had significant savings

By 40 I was renting and signed off work due to ill health and completely rebuilding my financial life from nothing.

income minus essential outgoings, then divide by two is probably a good starting point, but what people class as essential will vary massively.

Lots who say they can’t save need hokidays each year, have vehicles that are more expensive than they need on finance, the latest mobile phones, Sky, Netflix, get their hair and nails done all the time, smoke, eat out, drink etc etc.

Government guidance says £14,261 by the age of 30.

or… unanswerable question.

Odd post
depends on everyone’s individual circumstances
wether they live at home , pay rent somewhere, have debt, have kids, what job they do, family upbringing ect