How much do you have in savings?

[ldnelegantelephant]

You do not need to answer if you are not comfortable sharing obviously. But if you are comfortable, just wondering how much others have in savings? I feel like I am very behind in life! I live paycheck to paycheck so at the end of the month I have around £100 leftover. However DH and I have a shared savings account which we started around a year ago and we add money monthly. This account has £2,400. That is all I have. Is this really bad?
Edit: I am early/mid twenties.

That is just absolute rubbish, the only way out of poverty is to work, invest or inherit. How many people do you know that are living the high life on benefits unless they’re working illegally as well? I don’t know a single person on benefits that isn’t bumping along the bottom scraping to make ends meet, especially women with kids. Daily mail/Reform supporter I’m guessing.

Research a Lifetime ISA for your son. You/he can put £4k in and the taxman will give him £1k each year. Interest is added too. It's only worth doing to buy a first home so bear that in mind.

Ahhhh found my tribe in the thread, we are also 0 and depending more on credit cards etc through COL ( although do get them paid down). We are also in a ton of debt due to house renovation. We do save into pensions though and hopefully have added value to the house... I dont think we will be able to save till we are 40 ( currently 35)

We have a lot, but that’s because we’re older (early 50s) and also because I have inherited a big wedge.

In my twenties I had credit cards and lived in my overdraft and was a lodger. Now I am married, am probably half way to paying off my house, own my cars outright (old ones) and have six figures in a pension and maybe £25k in cash savings at the moment. It will come as your wages go up. I got made redundant a couple of years ago and we had enough cushion to deal with it fine.

You two sound like you’re both on the same plan and you’re budgeting and saving so you’re doing better than I was at your age. It will come. The main thing that helped us is to keep increasing mortgage payments/pension contributions first every pay rise before our standard of living went up.

49 years old, £27k saved.

Thought it was okay but maybe not compared to lots of people!😆

You’re doing really well. I had very little when I was your age other than a pension fund but as I got older I saved more and invested a good chunk of my salary into my pension. My DH & I are early 60s, we have been retired for 9 years and we have around £300k in savings & £400k in property ( mortgage free)

I think they mean that benefits aren't something you go to work for, otherwise you wouldn't be claiming benefits. People who work are giving up their time each day to earn the money that people on benefits get while not giving up their time. It's not even a partisan issue, it's just much more noticeable now, especially with the negative press that Motability garnered recently.

The whole "You can't live off benefits" is moot when those that are on benefits aren't giving up their time for that money to land in their bank accounts.

£3k each in kids' savings
£36k in one account
£6k in another
£18k in a LISA

Oh, and I'm early 40s.

I think you're doing great for early 20s. My DH and I in our early 20s just scraped by. I was still in my university overdraft.

We have more than you, but we are 70 and are planning to eke it out from now on.

Combined - enough to pay off our mortgage which is a nice feeling.

£19k in daughter's ISA (she's 8), £50k in mine, a separate stocks and shares ISA worth about £10k (for uni living costs - I pay in every month). I have a decent work pension too. DH has £200k but not much by way of a pension. All parents still alive, so we might inherit a bit. I'm 43.

Please don't panic. Until l was in my 50s I also lived pay check to
Paycheck.

I knew I had a good pension because of my job, but I had very little in savings.

When I retired I payed off my mortgage and also had a couple of life changing events.

Now, I'm in my mid 70s, I have plenty in the bank, my only debts are my utilities. But I can do bugger all, that's why I have the surplus cash.

Enjoy yourself, pay your bills and make sure you have a decent pension.

We are 38 and 36 and have £300 😂

Quite a bit but we are retired so at the spending the money rather than saving, some of this was small inheritances they are part of our retirement money

Thank god I’ve seen this as I felt a bit sick at those with tens of thousands saved!!

I had the magical six months salary but no more. Husband lost his job, car needed loads of work at MOT time, the washer broke, rent went up, well actually everything went up. Now down to about two months salary. It scares me.

About tree fiddy.

I'm 55. No savings.