To be surprised that some people find high levels of saving hard to believe?

[BeMauveMentor]

The thing that surprises me most about money threads on here is that some people seem to find it unbelievable that others can, and do, save quite a lot of money. I’m not sure if it’s because people assume everyone spends roughly in line with their salary, so there isn’t much left over regardless of income or whether it’s just not always obvious how much others might be earning. I suppose if your own circle isn’t very varied in terms of careers and income levels, it’s easy to assume most people are in a similar position.

AIBU to be surprised by that? I really don’t think it’s a normal way to think.

We saved to retire at 53. As you say, life is for living.

It works the other way too ,
Somone started a thread the other day saying all women should have saving s of £20,000 as a running away fund which us massivly unrealistic for a lot of women
I dont doubt some people will have a huge amount of savings ,whilst others will have non.

Ah that makes more sense. Do you get the USS pension? That’s still a pretty good form of saving!

There was a sinilar post a couple pf days ago
i think a lot of people on here seem well off and so can easily save. I have no money left after mortgage and bills etc so dont save. But solo parent/no maintenance etc so im not surprised how much some have saved as everyone is in different circumstances

Surely it's hardly news that some people are surviving with the help of food banks and charity shops and some are in a position to spend £10K on every family holiday? I think you might find this influences ability to save.....

Without reading anything else on here it sounds like you are speaking from a position of privilege that you don’t even realise you have.

It doesn’t surprise me. These days I save a lot because I don’t go out much any more, hardly ever buy new clothes. Have old furniture and don’t care. I have a decent car (leased through a work scheme) but not much else apart from pets and food that I spend on. I cook a lot from scratch now too.
when I was in my twenties h spent all I earnt. I bought a lot of nice clothes and holidays and just had fun. I wish I’d saved more in some ways but in others I don’t regret it. (And my sire my idea of a lot probably isn’t much compared to many people.)
All to say- I’ve been on both sides and so I see different perspectives. Sometimes I spent a lot so couldn’t save, sometimes I was too poor to spend or save. Now I’m no way rich but don’t spend much except on the absolute basics like mortgage and food so I can save a bit.

In my case so I can retire before 60. I don’t want to work till 70 or whatever pension age will be when I get there.

🤣

Okay, if you believe you have to be in a special or privileged position to have savings you're just going to sabotage yourself. Some people had it easier, some harder. Get over it.

Yep. I grew up poor but always knew my family were saving something, even if it was just coins. I was a bit of a prat in my 20s but when I wanted a house I switched to saving not spending and was brutal with myself. People just spend what they've got letting their lifestyle expand into their ££. But if they saved it's not just a buffer - compounding and investing is the secret to making wealth that actually can transform your lifestyle.

agree the fact some people live a lifestyle they can barely afford and therefore have no savings. MIL and her DH rent these ridiculously expensive houses , buy paintings no one cares about because their expensive and can brag about it, have a kid in private school, and have a flashy car yet not a singular bean in a savings account. Then when shit hits the fan they try and beg steal and borrow from whoever they can just to get by and keep this ‘wealthy’ image they’ve tried to perfect. Yet me and my DH we don’t look like we’ve much, both work average paying FT jobs , live in a semi in a crowded street but at least we’ll have a nice sum for when we’re old and fragile and won’t need to worry about when to turn the heating on

When you really dig into what people have and what they save, it is illuminating and we don’t often get to do that since money is private.
I’ve always saved a lot, a close family member hasn’t. When we dug into this person told me he’d never had a bonus larger than £2-3K. I’ve had 15% bonuses for years. I never thought that was anything particular since it’s small compared to a City bonus - but once your costs are covered anything extra soon mounts up, and 25-30 years of bonuses at this level has done.

I have never been great at saving. I have teen DDs and prioritised experiences and travelling etc. I am soon to receive an inheritance so that will change things … but that’s sad 🙁

I think a lot id what people say about savings on Mumsnet should be taken with a pinch of salt

Dont compare yourself with them.

I’m in my 40s and have no children. I’ve been able to save a decent amount in the last 10 years and hope to be able to buy a small property with a small mortgage. I’ve had to make sacrifices to save this money. I’ve also been in debt in my lifetime and struggled massively, so I’m very grateful to have this safety net. I still have treats but on the whole I am sensible.

It’s partly about means/ability to save but mainly about mindset and attitude I think. It doesn’t surprise me that people have vastly different approaches and views on saving.

I have a well-paid job but came from nothing so have always saved aggressively to ensure that I and my kids never go back to the way I grew up.

One of my colleagues is similarly high earning, grew up wealthy but his parents lost their money so he won’t get a big inheritance, but he spends most of his salary - eg rents in a very expensive part of London, out all the time, buys expensive clothes and designer home items etc. His view is that why earn a lot if you can’t enjoy it, life is for living etc. Which I understand but he will have a shock when he gets to retirement if he doesn’t turn it around. I’m sure there is a middle ground!

Hard to achieve for some people, not hard to believe. Minimum wage etc, isn't easy to live, never mind save.
Think about how other people scrape by (if they're lucky) and how you would do on a tiny wage.

I save/invest around half my salary each month. I’m not one of those people who bang on about it or expect others to do the same. I just get on with it.

For a lot of people it's 'can't' not 'won't'. But there are a lot of those out there who 'can' but 'won't' and those who 'can' and do'. I'm not surprised at all. What I think is irrelevant. It takes all sorts. Not everyone has the same mentality.

I think its hard to equate the type of person who would brag on MN about how much money they have and seem to believe everyone 'responsible' should be in that position (who I always imagine to be unintelligent) with the ability to have accrued substantial wealth.
Silly of me I know, as you don't have to be smart to be rich.
But I must admit that when I see post like "I think saving £5k a month is the minimum but my friend says its lots. Surely this is just normal?" I do tend to wonder how someone unable to do basic research to compare their situation with national averages could possibly be holding down a job that enables that level of saving, and am 'surprised' by it.

Well given 77% of people in the UK have savings of less than 1 months salary, clearly high levels of savings are objectively hard to achieve in our society. So why would you be surprised that people believe something demonstrably true? And why do you believe people with knowledge of these things are basing them solely on their own experience, rather than their research?
Do you think perhaps its the people who think high levels of savings are not hard to achieve that may actually be the ones unable to see beyond their own experience? And that it's more surprising that they believe their own circumstances define what is 'realistic' rather than having a quick Google to understand the wider societal picture?

Such a boring way to brag. I just can't believe that people find not having £5m saved is unrealistic. I simply dig into my trust fund. Shut up.

You agree with the OP then. (You are surprised when MNers seem surprised that others’ situations may be different from theirs).

Only if their personal circumstances are not reflective of the typical.
For example, I would not expect someone who was an Elvis impersonator to be surprised that most people did not impersonate Elvis.
I would however understand a person's surprise to discover their neighbour was an Elvis impersonator.