AIBU to ask how much you save monthly on £140-150k?

[Cherryred2]

Just that really if you earn 140-150k, and have no childcare expenses (or very little perhaps?) how much do you save per month?

It's a bit of a pointless question really since it depends on mortgage payments, whether you are a couple etc. Everyone will be different.

Agree with PP it depends on so much.

DH and I both earn about that. Although we have two DC at private school and multiple pets which all cost about £7K a month.

We save between £3-4K a month. Tiny mortgage though and almost completely paid off, old cars, no holidays etc.

Without kids at private school we’d probably be saving £10K a month as really our expenses are only 1/2 of one of our salaries.

We earn just over 140k between us. We save a minimum of 2.5k per month. Usually more though.

Why don’t you have holidays and both drive old cars? Bizarre

You know holidays aren’t compulsory, right?

My salary is a bit lower - £115k but across both savings and my pension, I probably save around £1500 per month my DH earns around £100k and saves about £1k per month. We recently moved though and have taken on a large mortgage as we wanted it to be as few years as possible.

OP think of a number between £0 and £5000.

Do this lots of times and you'll have answers that are as much use to you as anyone answering your question with what they save are because, as well as everyone's costs being different, people define 'savings' differently. They also have different priorities and are at different life stages.

As someone with a passing interest in statistics I find it fascinating how often people on MN seem to want to compare themselves with others but do it so badly that the comparison is worthless.

I do. But saving £50k a year and having kids at private school whose friends will go away regularly is extremely odd. It’s also much more interesting than the OP’s pointless question so 🤷🏽‍♀️

Is it odd to value financial security more than keeping up with the Jones?

It’s closer to £36/40k!!!

My very old car does the job I need it to do and tbh seems to spend less time in the garage than my neighbours snazzy Jag.

DC go away with friends or family, which we obviously pay for, although that’s usually just flights and spending money. DH and I are very much home birds due to our pets as we don’t trust others with their care.

Ultimately, having decent savings gives us so much more happiness than a nice car or big house ever could. We both have enough stress at work, we don’t need it over our finances!

@Cedarwoodandmoss my friend won’t leave her pets either and is certainly very wealthy. We did have holidays overseas but were always savers and stayed in a smaller house and DH car is now 13 years old but we retired in our mid fifties because we had been savers. We used our money to buy time.