If this was your income and expenditure, how much would you be aiming to save?

[abal10]

Income 4,500
mortgage 1k
Energy bills, council tax and phone bill 550
car 200
nursery 1200
compulsory saving for annual insurances etc 300

total: 2, 250

the rest is for food, clothes, holidays etc. What would you allocate to that as against what you would allocate to save?

Depends on how many people you need to feed, fuel costs etc?

but I reckon even if they’re quite high I’d be saving over £500 but I’d be saving at least £1000 a month from that towards holidays, house alterations and savings.

so you have £2,250 left over - at least £1000

I don't follow your sums - I make it £1,200 left for food/clothes/holiday

Is pension already taken out of the income sum?

I don't understand the maths; I calculate £1250' left over - in which case I'd aim to save half. If £2250 is correct, more like £1000 (honestly not sure what I'd be spending all that on?)

Are you in a family or single ?

Yeah that's not £2250 it's £3250. You have £1250 left. I'd save about £400 a month long term investments and the rest in a pot for expenses like day trips, holidays etc.

I’d say you could comfortably put £500 straight into savings or investments each month. Then after food and other necessities throughout the month you should have a good few hundred left to add to your savings pot at the end of the month.

How big is your household? How many people do you need to cook for and what is your usual weekly shop? Are there any gym memberships, swimming lessons or hobbies to pay out for?
You've said £200 for car, but is that for everything (tax, insurance, petrol, car parking charges, service, MOT, new parts etc)?

So £1250 left. Are you single, a couple, how many children? How many people is food for etc? Is £1250 left your household income left to spend each month?

Sorry yes 1,250 left! It’s me and one dc age 2.

Do you pay into a pension? If so what percentage?

Percentage of your salary I mean

Can you edit the post? Quite important to get the sums right in an OP!

Try and save at least half of it if you can. Or maybe say £450 for food/shopping/day-to-day stuff, £400 for holiday/roof/boiler fund and £400 for long term savings (put in an ISA or into your pension)

£1250 for you and a child....I'd do:

£300 food
£250 to use on whatever as the month goes by
£700 into savings, but dip this here and there if the £250 monthly hadn't covered something.