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

glad I’m not alone 🤣

Not much. I had a goal to save $10k this year and I’m just about going to get there. That is for emergencies e.g. I lose my job. I do put away money separately for things like Christmas and birthdays but I don’t really count that as savings.

I have a large mortgage and a DD who is a competitive dancer. Doesn’t allow for much in the way of savings!

I am single with a mortgage and I bought my house a year ago so lots of expenses in term of ongoing repairs...

I manage to put aside usually between £150-£200.

We're not the average family. We have low outgoings and have tried to not do lifestyle creep with payrises and are ultra cautious with money. We save £2k to £2.5kpm.

I agree with PP that it depends what is being counted as savings. I currently put £100 a month away for Christmas, £100 a month away for Car, £200 a month away for house maintenance, and then £500-£600 general savings. So I guess just under £1k. We just bought a house a few months ago so used a lot of savings for that. I'm also paying to retrain which costs about £300 a month. Two teens about to go to uni.

Threads like this make me recognise how fortunate we are and that I really do have some financial anxiety as I worry about leaving or reducing hours at a job I hate, but seeing it all in this context of what others have, I'm being a bit of an arse to myself and look like an arse when I describe how fortunate we are. Ugh.

😅😂

I wouldn't assume that those are real figures. Plus if it is - the poster is not going to take your sensible advice.

-£3k per month ….as in we are spending that much more than we earn every month.

But it is all to plan !! And we are not going into debt.

We have two DC in Uni for whom we are paying for all their Uni costs- tuition, accommodation and allowance.

We saved up their Uni fund for this from birth. Ofc the government threw a spanner in the works tripling the price once eldest was in secondary school..boo, boo, fie on the government.

This is the overlap year, next year there will only be one in Uni so it will go down.

Then in 3 years, we will be back to positive savings.

If pensions are counted as savings, we are still paying into those…

@Thecatspjymas

You say that but being high earners clearly they probably pay high rate tax between them so why not?

At least they're paying something into the system eh

Are you looking for the average monthly saving in the UK or on Mumsnet? You’ll be looking at two wildly different figures, with an extra dash of nastiness towards high earners too – as has already come about on this thread. The average household saving in the UK is £450 per month.

We average about £500 a month, but with two huge expenses of a £3330 mortgage and £1400 nanny. We get the tax free childcare saving each month which helps (which I’m sure will boil blood and I await the nasty comments).

Usually £500 but with the cost of each month being so unpredictable, I can sometimes spend that, and more, extra the following month! My savings certainly aren’t going up over the year.

Don’t. When I was on maternity, I spent around £10k of savings per child to top up my income closer to what it had been. Maternity is a very lean time- I couldn’t save at all…instead I drew down savings..you should feel really proud that you can save at all

£1k into long term savings (ISA) and £1k into accessible savings for holiday and Xmas each month. That’s DH and I. We also pay maximum into our pensions. We don’t have a mortgage and we have 2 children under 18 who are likely to go on to university so we are saving towards that.

It varies, I have an NHS/state pension. Sometimes £500, sometimes £1k 🤷🏼‍♀️ both retired/no mortgage/no kids. Want to do some house renovations in the New Year which will be costly, but I have a fund for this type of thing, also a separate small saving fund for Christmas/birthdays/Easter for the little ones in the family.

Zero, sadly living in the South East, being single and paying off debts doesn't give much spare money. Once debts have been paid off, I'll start saving. Although I should probably have a rainy day/car repair pot but the thought of saving when I have debt is one I can't get my head around.

About £500 but currently supporting two children through university at a cost of £500 pm each as well.

I put £500 into a savings account every month plus £3k per annum from another source. But it's to be used for car, presents for family, dentist, health care. So goes up and down. DH saves similarly.

About £1000 a month. No mortgage, DH retired and I work minimum wage. Just the one 16 year old. Stops at Christmas time though then starts back up in February

£850 per month
No kids, saving for a deposit

I don't, but I do have monthly standing orders to my kids £200 each (one has moved out one will start uni this year). I save for things like holidays but I don't have an ever increasing pot.

I agree with a PP that Mumsnet is far from average, but I'd disagree saying that the average Mumsnetter is saving less. If anything, many are saving far more than the median average household can.

I'm single with children and a mortgage, no other debts. I aim to save £300-500 per month, split between car savings, birthday/ occasion savings and shit-gone-wrong savings. The last year has financially crippled me with lots going wrong in the house, so my total savings are still very low and wouldn't last me a month if I lost my job tomorrow.

But I'm post-divorce, with a relatively newly-bought (old, and in need of serious TLC) house, an old car limping through each MOT (usually more than once), kids are getting older, reasonably skilled at DIY, thrifty and creative and I have a decent monthly income to cover general living costs without having to scrimp too much on a bit of fun. So I get by.

Luckier than many in this country in what is still a cost of living crisis.

£250 per month. And £1k into pension.

But I have also reduced hours at work massively as I have paid off mortgage and have savings and pension pot.

So if I worked more I'd just save more. Which seems pointless

(50s, no kids)

Jointly £200 for DC plus set aside money for holidays, car insurance/repairs, house insurance etc (£600/month but that is budgeted to be spent over the year so not really savings) and then just me approx £300-400 for tax bill. Actual saving which is mainly planned for overpaying mortgage and buffer for anything unexpected maybe £100

What is an average household

This thread is just ridiculous.
We save around £300 most months I think. 3 kids under 7, but currently no childcare costs due to maternity leave.

low mortgage currently so we also overpay by £500pm. Have about £20k saved for a hopeful house move up the ladder in a few years. Cars owned outright, no other debt and DH has ability to pick up overtime if we need it. We don't earn huge amounts but also aren't big spenders at all.

In reality, I think we have more savings than most people we know... but going by this thread maybe not!