To ask how much you save each month roughly?

[SunnyWavess]

As the title says - how much does the average household save each month once everything is paid? Some families won’t be able to save anything and that’s their experience.

zero
£50
£100
£200
£500
£750

We’re all different of course but would like some insight of the average house - thanks

I save about £2k a month. My husband will do about the same. Mortgage free now.

Why do you find it upsetting that a complete stranger gets universal 15 hours funding that absolutely everyone gets?

As I have stated, we won’t be in this position forever & haven’t always been. Hence saving as much as we can.

Nothing right now I’ve just gone back to work after 9 months of just SMP so have been dipping into saving to fund this period. Paying Augusts nursery bill for 2DC in advance of being paid really wiped out the last of our easy to access savings.

I’m hoping that we’ll have around £400 left at the end of each month once I’m getting paid properly again. We’ll probably save £200 and spend the other half on our very slow house renovations.

That would be the ideal anyway. We need to build the easy access savings back up. Those savings cover paying for annual car costs like the insurance, service and any holidays so like PP said I’m not sure how much they count as building wealth type savings.

I might try and get 1 month in before Christmas where we try really hard to save £1,000 to build the pot back up. I haven’t done the maths to know if that’s possible.

We have a high interest rate on the mortgage so I’m conscious that it’s worth it to over pay on that. It’s just hard to promise especially when we want to make the house nicer too.

As long as they earn within the threshold - why the hell not?? Funded hours are funded from money we the taxpayer pay including this family - who clearly pay alot in. Or is it your position that those who pay alot don't deserve to benefit?

About 10p currently 🤣

People who earn over 100k a year don’t get the expanded free hours scheme.

£600, for retirement. I’m renting and won’t ever get onto the housing ladder.

Zero

Yikes this thread makes me feel like rubbish.
I was saving about £150 a month into savings which I use for holidays and family stuff.
Now on maternity and reduced hours when I return I'm finding myself slightly overdrawn every month. All bills are paid though thankfully, just nothing left for leisure or treats.

i feel the same, I’m a disabled single parent and was trying to save £100 a month to use if I eventually were to go on holiday. Now, the money I put in often ends up coming straight back out as there’s always something that comes up that I need it for. I’m exactly the same as you, bills and essentials are paid - which I’m grateful for but no leftover for anything else. Crazy how others on this thread have disposable income in the thousands to save - likely AFTER using it for leisure and treats.

By that logic, do you object to them using the NHS and state schools too?

They will be paying a great deal of tax, and I should imagine even with their funded hours they will be net contributors. Why shouldn't they claim what they're entitled to?

I save around £400pm. DP about the same.

We have a lot of savings/equity but we're trying to pay down as much as possible on the mortgage, so not saving as much as we used to whilst doing that.

I’m never sure what people mean by savings - we put money away for car replacement, holidays, house repairs etc but all will be used in the shortish term (within 3 years say)

Agree with this.

I have savings pots coming out of my ears. New car fund, holiday fund, Xmas, home reno, long term etc.

I could say that every month we put by about £1400 in 'savings' which sounds quite decent. But most of that gets gradually spent out, it's really just life maintenance money. We don't have a pot sitting with an extra £16.8k building in it every year (if only!).

Of that £1400, for actual 'real' long-term savings, which we wouldn't dip into and don't quite know what it's for yet, we save £400 pm - about 10% of our net income.

Figures on this thread are wild though 😂 I really don't think they're representative!

I'm wondering if the OP is going to tell us her figures.

Zero. We don’t have any luxuries or even a car.

I feel very happy to be saving around 400 pcm as it’s the most I’ve ever been able to save. Bank has a good interest rate going so I thought I’ll try to make the most of it. Half that also goes into funds like new washing machine, kids birthdays, treats for me, holidays and even an account for oil. So it’s just put away really to enable me to cope when these bills need paying.

Nothing! I’m retired and did my saving and investing when I was working and my children had left home and my mortgage was paid off!

I decided not to convert all my pension pots to monthly income but to leave the one with the largest pot for draw down purposes. So far I’ve been using my savings to top up my income and pay for major purchases so the pension pot is still untouched but I reckon in a couple of years and a refitted bathroom, I’ll have emptied the coffers and will start accessing the pension. If I’m still here when that is spent then my plan is to downsize and access the money from the sale.

I am fortunate to be in the position that I don’t need to save up for large purchases, my pre retirement investment planning seems to have worked out well!

Not as much as I’d like as there is always something that needs paid out of the ordinary, a new tyre, and everything in between that always eats in to savings.

I have a child with SEN and it costs more to raise them, plus I can’t work many hours as I need to take DC to school and pick up

I was saving 1.8k a month then I became disabled and now save zero.

Agree with previous posters that it’s hard to define “savings”.

Each month after we have paid the bills and kept money in our account for that month’s food and essentials we put £3k in a savings account for holidays and £750 in an account for Christmas and birthdays.

Sounds loads but at the end of the year we have no savings as we spend both accounts on holidays and Christmas and birthdays. We only pay the interest on our mortgage so we aren’t increasing our actual wealth at all. We don’t own a car (London based).

Nil.

I don't feel like we're low earners (take home about £3.5k a month together) but by the time we've paid nursery fees, mortgage, bills we have about £400 of "fun money" for the month and that seems to just go on weddings and emergencies and new shoes for the toddler and I don't even know what else. We end each month overdrawn

Each month after we have paid the bills and kept money in our account for that month’s food and essentials we put £3k in a savings account for holidays and £750 in an account for Christmas and birthdays.Sounds loads but at the end of the year we have no savings as we spend both accounts on holidays and Christmas and birthdays. We only pay the interest on our mortgage

You spend £45k net a year on holidays, Xmas and Birthdays but only pay the interest on your mortgage? What are your plans for when your term expires?

About 1k per month. I thought it was more. Should ramp it up but too busy enjoying spending it and living life after years of no money.

@ViscountDreams we have two and a half more years with this mortgage and then we will get another mortgage and maybe have less to spend on holidays if the terms are less favourable. By that point our eldest will have left home and we will probably need to pay for uni so our whole lifestyle will change but for now we wanted to enjoy travel and time as a family while the kids are all still at home. Once all the kids have left we will leave London and hopefully be mortgage free but that’s a while away.

How do you get funded nursery hours on that much income?