Are my savings really such a shit show?

[Lollapy]

Shouldn’t have mentioned it, I get it, but I reached my goal of 10k savings last weekend. I mentioned that I had reached my goal (didn’t say how much) to friends and that it was a relief as in a single parent. It was massively poo-pooed! Not in a nasty way but I was basically told 50k is a safety net and I had a long way to go. I know it depends on outgoings etc but I really thought 10k was a decent sum! It will take me forever to save 50! For context I’m 38.

Absolutely this.
Never discuss money

Oh well done! Tell her to shove her judgement elsewhere. I have 2K saved...I thought I'd recuperate what I'd used during mat leave but life happened 😂

This is brilliant! Well done! With a child/ children as a single parent, this is incredible. When they talk about 50k, that's almost certainly with 2 incomes paying for a house and adding the savings of 2 people together. You have done amazingly, especially in this climate.

I got out of a financial abusive relationship 2 years ago and I have £2.5k saved. Be proud of yourself, you've done amazing. And I like to think I've done well, too.

10k is a lot of money, especially on a single income so ignore your friend

Well down OP! This thread has made me feel much better - I am 40 and rent and lately I have been feeling like such a failure. Everyone I know are homeowners and have lots of savings. I save what I can and have a decent job but I'm single so only one income and rent going up and up, it's really not easy. It's nice to see recognition here of how tough it can be and what an achievement it is to save whT you have.

How could it have been “massively poo pooed” if you didn’t mention how much it was? & how could they say you have “a long way to go” if they don’t know the amount?

You’re doing well to have ANY savings. Many, many don’t.

You should give yourself a big pat on the back! I’ve managed to save 15k and pay off all my debts after being a complete ratbag with money for 35 years so I know how it feels. AMAZING.

On the face of it YANBU but, savings are relative to how much you earn/spend. If you spent £7K a month then £10K in savings isn't going to get you far. But if you spend £3K a month, then £10K is great!

But IMO, any savings is a good thing and I think it was very rude of them to say something! Discussing finances with friends never ends well

As others have said 10k is a decent sum. If you were putting away £200 a month it would take 4 years of very disciplined saving to get to this point. Well done!

Anyway I think if a friend tells you they've achieved a personal goal - any goal - it's a really weird response to tell them it's not good enough.

OP, you've done brilliantly. Ignore your 'friends' on this one - they sound mean.

10k is great, I've only ever had that amount saved once when I was saving to buy a house.

I'm now saving for a wedding so I've got some money in the bank but it will all be gone soon!
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A lot of people live wage to wage , you are doing better than a lot of people

Average UK savings, so at your age you are doing better than most. Congratulations for achieving your goal

Well done , 10k is a fantastic amount and of course a safety net. Don't listen to anyone and continue to be proud

Your friends sound like dicks. Sorry, but they do.
Unless you're Jeff Bezos, having 10k put away is great. It's a lot of money and big achievement - especially when there's so much pressure to have giant mortgages, cars on finance, and the newest everything.
You're setting a great example for your kids and making sure if disaster strikes there's something to tap into.
Keep doing what you're doing; it's a huge achievement.

10k is great. I’m always surprised how many people in my work place are completely thrown by needing a new boiler or a car that needs repairing. And the industry would offer above average pay. I think people in that middle pay category are really up against it right now.

My goal is £10k and I’m on about 8. It’s a huge win OP, I’ve been saving for fifteen and it’s taken a lot to get to this point so literally no one can take the shine off it for me… don’t let them for you either.

Bloody hell, I have £1,000 in savings and I’m delighted, I’m 53, work full time and have 10 years left on my mortgage, there is no way I could save £10k op, you must be a high earner. How have you managed that with kids? (I’m child free)

10k is brilliant so well done. Ignore your ‘friends’ and be proud of what you have done

10k is a good amount to have as long as you don't plan to spend it on something that isn't worthwhile. Keep going until you've paid off your mortgage and any other debts.

Congratulations on your savings!
Now put your energy into finding nicer friends. Mates should bolster each other up, not knock each other down.

That's very rude of your friends, don't let them downplay your achievement

Ignore your friends.
That’s your first 10k and it’s bloody brilliant.
I still remember as a single parent getting to my first £100 savings and feeling I’d achieved something.

When we were 38 as a joint income we had less than 5k savings. We'll done on reaching a goal and it's a significant enough amount. There's not much unforeseen events that you can't now cover, so that's some stress removed as a single parent and security for the children in their every day lives.
That's an achievement so don't take any notice of what others say about the amount.