To think people on here seem to save a lot more than average?

[MellowMintBeaker]

I’ve noticed when reading threads on here that a lot of people seem to be saving quite significant amounts. It’s made me wonder whether this is representative or whether it’s just that people who are more financially focused are more likely to post.

AIBU?

People who save more are more likely to reply. You can google average saving rates and it’s way off what MN would have you believe.

How much you have in savings doesn't really mean anything. Some people live hand to mouth, some spend on private school, others invest, others overpay mortgage or upside or pay into pension.

The typical MN demographic is above average income, hence above average savings.

Lots of older people as well who have inherited wealth

People lie.

Exactly this.

I suspect a lot of people (assuming they aren’t lying) either have partners covering the majority of their living costs or are older / inherited money so don’t have a big mortgage or rent to pay.

I’ve seen people on here with a similar salary to me claiming they save 50 - 75% of it - I couldn’t afford to meet my basic living costs on even 50% of my take-home; my mortgage alone is 25%.

Exactly. Any discussion on here about money/finances/spending just shows how much more affluent than the population as a whole the Mumsnet demographic is.

@MellowMintBeaker
Remember that people click and respond on threads that “speak to them” in some way or another, so you aren’t going to get a true picture, statistically speaking.

Just remember that people can say whatever they want on MN and no one actually has any idea if it’s true or not…

I save quite a bit of my monthly salary. My pay isn’t huge but my bills are low, no children at home now, I’m stingy and don’t eat much 😂 (if I post on a thread that I put £££££ away a month you wouldn’t know any of what I’ve just said and could assume that I’m doing well when actually I’m just a tight arse).

Take everything on here with a pinch of salt.

Well if a post is asking about how to save money, it will be responded to by people who do save money.

So you can't really draw a conclusion from reading some posts.

@MellowMintBeaker
For example, I’m answering you on this thread, because I’m interested in and aware of how your perception of reality is easily manipulated , depending on what you are seeing in front of you online.

MN skews well-off middle class and above, and also skews "not believing class exists" - this isn't a coincidence!

Only middle class people who live in MC bubbles don't understand the impact of classism and income differences. (I say this as a firmly-privileged MC woman with a joint household income about 150k).

Which is not to say that MN is purely MC, but it is a significant cohort. The unifying characteristic is generally women and mothers with a reasonable standard of literacy.

I can really identify with this! I have always been a sole parent, no maintenance from ex so was well placed to develop incredibly frugal habits which have served me well. Definitely no outside support or inheritance, just a way of living.

Also there is no verification on posts is there, so people can post whatever they like you have no way of knowing if it's actually true.

I have a fair bit saved now in my late 50s, dc are adults. Ask me in my 20s-40s it would have been a different answer.

In my 20s and some of our 30s we lived in our overdraft , it got better financially in my early 40s as jobs improved, no childcare expenses, a couple of small (<£10k each) inheritances and redundancy payment were enough to help get us on an even keel, stop chasing our tails and start saving.

I could easy spend it all tomorrow on many things that could do with replacing (car, suite, double glazing, carpeting) but we are making do for now until we have a bigger buffer as it feels even more important at out age to have savings.

I'm not sure what's normal but I'm currently saving my wage and living on my husbands. I'm going to take a pay cut so we will go from saving 50% to more like 40% but the thing is the price of this is not eating out unless special occasion, one ten year old paid off car, meal planning, old phones, budgeting and jobs close to home so it's a choice we consciously make. Plus we got lucky with our mortgage and secured a low 7 year rate. I've got 30k saved plus retirement funds but some may say look what you're giving up. I don't feel lacking though.

I do payroll and I've seen all manner of wages. My husband and I are very average and yet I've heard high earners say they have no money. There's so many ways of looking at it.

If you can organise your life around spending less than you earn, you can save consistently. Maximise your income, minimise your expenditure.

Some people see extra income as the opportunity to spend more, others see it as the opportunity to save more.

Your perception is skewed by your biases. If you were to ask me that question I would have said the majority of people on MN are low income and don’t save.

No, it really isn't! The typical MN demographic is people making stuff up. The vast majority of 'high earners' snd big savers on here are not real. To be a high earner/big saver, you have to have a brain. The level of intelligence on here is way below average!

For balance OP, I’ve just turned 40 and have no savings at all. Rent my home, had my son young so never had the chance to stay and home and save. I earn about £60k a year but everything is so expensive 🤷🏼‍♀️ I agree though if I were to believe everything on MN I’d think I was the only one without savings.

No mortgage retired - save £900 per month seem to live quite well off pensions

Everyone here has a big job and earns well (or their DH does), so presumably saves well also.

How exactly do you know a) who is lying and b) how many people are lying?

I have a friend who earns six figures, part time WFH as a freelancer. She earns so much she was recently in an article about contributions to pensions putting in 60k per year. She just put a six figure sum into investments in dividends from her business.

She exists, I promise. She could be on this thread. In fact, of that particular friend group of eight, all but one of us are HRT, and three earn over six figures. At least as far as I know.

In another friend group, a friend sent me a job link because she thought it would really suit me. It paid 15k less than my current salary, and she thought it would be a step up for me.

So again, how do you know who/how many fantasists there are? And does it matter?