How much do you have in savings?

[Mum8929]

Husband and I have a small emergency pot but need new cars and worried we’ll be left with almost no savings. How much do you have in savings?

Everyone's numbers are pretty meaningless as they don't give a relay overview of their financial position.

This flowchart is pretty useful to gauge where you and are, and where you want to aim for:

ukpersonal.finance/flowchart/

Enough for food and bills (thankfully no mortgage) for a year.

Age is a relevant detail for fair comparisons.

I've got enough to get by for 2 years or so, but I'm also late 40s. My lifestyle helped me into this position. I've gone my entire life living without taking on any credit, and I don't drive.

Recently I got a mortgage, but that's an exception. Renting a room can cover most of it, my budget limit & deposit was set to ensure this was possible.

I'm very safe and boring from the POV of financial risk. Save my risk taking, spontaneity and adventurousness for other areas of life 😁 The savings help me sleep at night and keep calm when unexpected things occur

About 24k split across a S&S ISA and a savings account. I had cancer 4 years ago and this is the remains of my critical illness payout after we spent a fair chunk having fun after a really shit time.

I have £260. DH has 30K. Joint savings we have 40K. DH has shares invested around 50K. DD in her name has 10K.
My aim for end of year is to have 3K saved up for myself then 5K every year after that.

Enough to survive just over 2 years without changing our lifestyles if we lost our jobs.

Around 25-26k

It's all pretty unhelpful unless you know someone's outgoings.

If you're super nosy, their age also helps. Some would argue that a 30 year old with £5K in savings is great and a 60 year old with £5K is crap. But it's all relative based on outgoings/lifestyle etc.

Personally, I have about £10K. But unless you know my lifestyle, it means bugger all.

£127k

Sounds a lot but most of that is the money is from the sale of an inheritance house and will go back out for the house we a buying plus the fees, renovations etc...

Not including inheritance, I always have £3k in the rainy day emergency pot.

Nothing - but plenty of debt.

Probably £12k in my name, £50k in DH’s name and £150K in my business name (owned with DH)

I'm 31 and used my 120k buying my house 2 years ago. Have been saving for renovations ever since and now have £60k.

Helps my partner has similar.

£17,600 (in the joint pot) left of a 54k inheritance I received about 8 years ago. Not sure what to do with it so it just sits there.

£5.4k for our holiday (we save every month for this)

£1.75k in my personal savings. Dh has some bit not sure what

£15k in savings I can access straightaway. Another pot I'm saving to take in a few years. I would like more tbh!

I wouldn't give out this type of information.

All I can say is that if I were in your position I would not be spending all my savings on cars. I would try and manage with one car with one person using public transport for work and I would probably get a new or three year old car on a PCP to avoid paying all my savings out in one go on a depreciating asset. Keep the money in savings in order to pay the PCP off if you need to.

Also bear in mind that car insurance has skyrocketed so it would be worth checking the insurance cost of any new car before buying.

I do the smart thing and keep all my savings in cookies. they never devalue

Am intrigued by the gold thing - need to have a look at that

Currently our savings are spread between fixed rate account, properties, premium bonds and shares, but no gold!

Taken 35 years but is now £100,000s

Just under 7k - but this is only a recent development as my lovely mum died, and this is the amount I got after probate sorted out her meagre 'life savings', bless her beautiful heart 💓

I'd much rather have my mum and be utterly broke!

A years joint salary, we’ve decided to spend the year or so sorting out the house while we can, so we won’t save anymore in the foreseeable, but won’t have to touch our existing savings.

-£1,000

Plus mortgage and loan for a car.

We have 3 years joint income I guess, maybe 4 with shares. We are older though, DH is retired so that includes the lump sum he took from his pension. I’m younger so still working full time.

We still save every month. I would like to be able to retire early or go very part time so we need to save for that.

I bought my car second hand for £2000 10 years ago and it’s been very reliable.

Not sure that poster was interested in that.

5-6 months net salary. My car’s currently worth about £25k and owned outright so I could always sell that if I had to.

About £100K cash savings plus a few pension pots with no debts. We're saving like hell to buy a bigger house as once very elderly MIL is no longer with us (morbid I know but also realistic due to cancer and dementia) we want to move a few 100 miles away to be near my family and hopefully settle into retirement.