How much would you put into savings with this monthly income?

[Booooot]

In a Great position after years of hardship of selling a property which means we will be mortgage free, debt free and have 50k to go straight into savings. Our combined monthly income is going to be 5000, our outgoings around 900.

I’m a “can’t take it with you! Might as well enjoy it!” Kind of person while my husband is a “No we must be sensible and not spend anything and save it all.” Kind of person. I want to meet in the middle somewhere.

what would you do?

Quite!

You’re detailing my thread now. I’m asking about savings not my life story.

You e never heard of wrap around childcare??

My older child is at school.

So how do they get breakfast & dinner for free? I didn't even know schools did dinners!

From 6am? No.

You e never heard of wrap around childcare??

At school?
till 7?
with free dinner?

No

Apparently it’s wrap around care 6am-7pm. For free. Sounds fab. She should link.

I need this service!!!

It’s a childminder that again is covered by student finance. I don’t get why you can’t wrap your head around this. It’s not difficult l.

Just googled this as I’m in need of a pension too. Looks great except I’m 42 😢

You have a childminder that takes your dc from 6am, gives them breakfast & takes them to school & picks them up & gives them dinner & keeps them till 7pm?

I've never heard of such a service that wasn't prohibitively expensive.

Yet you get this all for free without any top up but have a take home of 5k a month?

And what happens when you are no longer eligible for student finance? who pays the childcare then?

Well, I am with your husband, so £900 for the essentials and then I’d generously allow £100 for fun and stuff, and save in long term untouchable savings at a brilliant interest rate the other £4000.

Or, I’d take advantage of the advice given here, work out a proper Annual budget ( top tip we need £500 a month for one off Annual spends that do include a modest U.K. holiday) so monthly direct debits, Annual One offs, daily living costs and then save the rest.
Id make up my lost 12 years of pension, and start saving for the kids Uni funds.

Shall I tell you what is difficult to wrap my head around? How you have so much time.

From the nursing and applying for a mortgage threads;

By the grand age of 29 you’ve done 3 different degrees, had a child, split with child’s father, got into debt, met and married another man, had another child with new husband, owned 2 properties and sold one of them.

I wish they taught us stuff like this at school 🥲

You’ve done 3 degrees; surely you’re smart enough to know how to budget and save?

I know I’ve been soooo busy. Just trying to make my 30’s easier than my 20’s.

I don’t get why you can’t wrap your head around this. It’s not difficult l

Because it doesn't make sense

This is my 3rd degree so technically I’ve only done 2.

Well I’m sorry my life hasn’t been perfectly scripted to make sense to a stranger on the internet.

Yes that makes so much more sense now, thank you for your clarity.

@Booooot it may make more sense if you actually answered questions...

You are most welcome.

I’m trying but they’re coming at me quite thick and fast and that giant advert that covers a third of the screen is making me miss some posts! I’m happy to answer questions as it will help me get the best advice but I don’t appreciate being accused of lying or being attacked. I’ve not lied about anything, just have had a shitty and difficult life up until now.

How do you qualify for all your childcare to be free with no top up on 5k household income?

How will such extensive childcare be funded out of £900 when you are no longer training?