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

£500, will jump to £1k when DC1 starts school next month. No idea how much DH saves, but we manage another £200 from the joint into savings for holidays etc on top.

Between £450-700 depending on what else we have going on that month.

A few thousand. We don't have kids or animals and my partner earns a decent amount. We're still struggling to find a house in our budget that's suitable for my autistic needs, though.

£0-200 (but anything that does go in comes out again tbh).

Honestly I've never had savings - either haven't been able to afford it, or have just spent to what I earned. Even as an adult who works in a field vaguely relating to money who KNOWS 100% that it's sensible to save regularly each month, the concept of doing so is so alien to me - I grew up very very poor, my financial literacy isn't great, and until the last few years I'd never been in a position where I could save (I was either not earning enough to live or I was paying off debts from the years when I couldn't afford to live). Now DH is ill and not working, so I'm covering everything, so can't save anyway. But when he is working again we'd comfortably be able to save 25-30% of our income and still live a nice life, so I'd like to do that - but the thought of it feels really weird and almost like something Other People Do? Very stupid of me I know. Need to get my head round it!

Wow this is eye opening.

South coast expensive area, Joint income of about 80k, ok mortgage payments just interest only. House needs masses of building work so financial strain should lessen in a year once this is done. 2 children who we spend most of our money on. 2 dogs, 2 cars.

No savings ever - not beyond a month or two when we've needed something.

I relate to that feeling of its something what other people do. It's something I plan for the future when I can afford to and absolutely want to do but it feels very foreign to me. Grew up with not much money and parents that were not good with money never saved/invested anything like that. So the idea feels very alien. But the anxiety of money/not having enough/spending has never left.

Shocked how much people can save🙄

Zero here. I'd said 0-500 is more common for most families with children especially through the childcare years.

I really want to be in a better position living without savings makes me feel rather vunerable. Few luxuries and very cheap holiday so the idea of having money left over after all that too blows my mind 🙈

When we got married interest rates went up to 16%. Hard to save then, then two children I wasn't working so hard then. Once the children went to school it eased up, interest rates dropped I was working again. Only then were we able to properly save because we still lived as if we were skint. It had become a habit. The housing market crashed for 7 long years 90-97 here so when houses were finally selling we had enough money saved to make a big house jump to a wreck of a money pit which took years to get right 😂😂

£50. Only get disability, and also helping out my partner who should also get the same but UC not got back to him since his reassesment in bloody february!

How about you @SunnyWavess?

Is this post helping with your project?

It means nothing without context though does it?

We save about £1500 a month. We have no children and are both reasonably well paid. I'm a spender and spend far too much money on all kinds of crap so could save more if needed.

£1.5k/month for me, £250/month for other half (separate finances, but I pay for most of the big stuff with OH paying a token amount and we still regard everything as "ours"). Probably somewhere on the order of £115k combined income, £600/month mortgage, daughter has long since left home.

Could probably save £2k/month if I was more careful, but we'd prefer to enjoy life rather than being skinflints and then hoarding loads of money but lacking the ability to enjoy it.

We’re currently in a period of life where we can save £100 a month when we used to save £2000 a month.

A lot of the reason is due to extortionate childcare costs (we live in London), we’ve moved house since so our mortgage is higher, and SMP wiped out most savings during my maternity leave.

Once we get our 15 “free” hours with nursery from next month, we’ll put the money saved into our savings, which will help.

I am pregnant with my second and come to accept that this period will be tight but in a few years, we will be able to get back to saving a lot more and enjoy life again with nice holidays etc.

Just wish we had German childcare costs (£200~ a month) 😩

There is a statistic that half the people in the UK have less then 1k in savings so I think that tells you a lot about average savings per household.

We save about a quarter of our income a month which is above the £750 in the OP however we live in an old house where things are often going wrong and cost a fortune to fix so most of this money goes on repairs (average 2 a year!)

I currently save 1k a month (saving up to buy a house). Once on the property ladder I hope to save around £500 a month, but that will depend on what’s left over after mortgage, bills etc.

Around 600 to 700 a month split between car maintenance savings, holidays, house items, and don't touch savings.
We also overpay the mortgage by a few hundred a month, as we're on a high interest rate, so I class that as saving too.

Between us, £1000 per month into savings. Around £500 per month for holidays, house, Christmas etc. £1000 into pensions. No mortgage, one child at uni and one child at home both of whom we support.

Why is it upsetting that a family who will be paying a fair amount in tax and NI should get back a little bit of what they pay in. They probably pay in more in a year than some do in a lifetime. Why shouldn't their children benefit from the funded nursery place the same as everyone else's.

Well exactly. What's in it for those who pay thousands in tax and take nothing out ?

£500pm goes into the holiday fund which covers Christmas, birthdays, and holidays.

£100pm goes into a savings account for our daughter.

I try to put around £400-500 into our long term savings account but honestly it depends what's left at the end of the month. If we end up going out a lot that month or have other expenses, it might be nothing.

Assuming your husband stays fit and well to continue his employment or assuming the job is still there and not restructured, folded , business sold .

I'm sorry I find it madness to save nothing when you don't know what tomorrow brings . You could saddle your kids with guilt knowing you gave them everything and know your living off beans because life took a wrong turn .

The same with the poster upthread spending £45k a year on holidays and Xmas yet an interest only mortgage .

I totally agree with this.

About £1000 per month each goes into various savings pots and there are separate savings for DC. Whatever's left at the end of the month gradually accumulates and gets moved over into a generic savings account to do so.

How does knowing what other people save give you insight? It's utterly meaningless.