How much do you have in savings?

[kiana2015]

As we are practically all anonymous I don't see this should be an issue with bro g honest. I've never really felt the need to save much, lately I'm starting to regret that, luckily I'm still under 30. No idea what a 'reasonable' amount of savings would be considered

In cash, I have about £3k. I'd like it to be more and I'm adding to it every month, but occasionally having to dip into it for emergencies. But that's what it's there for I guess!

All our money is joint.
So I guess my mortgage debt is half, just like my savings.
Between us we owe £140,000 (but have much more equity in the house).
Savings, only £15k. That will go down after our Summer holiday too.

Please advise... how do you do it?

I really want to be able to save up and be financially secure. We do save a little each month but you can guarentee, each time we manage to save a few hundred.. something breaks and it's back to zero so quickly

But you have managed to save 20k.. yet your surprised anyone can save... how did you do manage to do it?

I'm one of the unfortunate ones who can't save, cause the minute I do, something breaks that tends to be around the amount I've saved 😂

Wow.. I'd be retired already 🤣

Honestly though, how have you managed this? If you don't mind me asking. I'm desperately worried about our future and our young daughters... I need some advise on how to get to this

I actually wish I hadn't come across this post.. 😔 my mental health has been particularly bad this last few weeks, to the point I think what is even the point in life.. why am i even here. LIFE SUCKS 😪

Now i feel absolutely useless and more worthless than I already did. 🫣

Fair play to everyone who can save more that a couple of hundred pounds.. them who managed over a million.. HOW? Genuinely.. how do you do this?

I’m really sorry you feel like that. Your situation is surely more common than anyone with loads of savings posting here.
This is a really hard time to build a family and build wealth.
Genuinely how - for us, DH sold some shares in a company. So, that involves a lot of luck, also being willing to take risks - he took a massive gamble and poured a lot of his life into building something which isn’t even his own business and could have failed for about a decade. But very lucky, not just that the company did well, but that he was basically born a male (sorry but true), the area he has a natural aptitude for is lucrative (mine isn’t!), has a sensible tolerance of risk, met the right people, found buyers for shares etc. And then obvs he’s really lucky he found a great woman to keep everything spinning for him at home.

£60,000 but it’s a house deposit. I am waiting for DD (my youngest of 3) to go to university next
Sep then I am moving back north after 25yrs in the South East. Single parent, expensive rent, if I was up north i’d have paid a mortgage off by now so it’s quite depressing. I have been waiting to relocate for years now, but didn’t want to disrupt DC. But means i’ll be paying a mortgage up until I retire which is quite depressing. But hey ho, could be worse.

50, a public sector pension, 2 avcs containing about £10k so far and about £40k in cash isa’s.

I’m in my late 20s. I have almost £8,000 in my S&S ISA, but I haven’t deposited any money in there for around a year now. I just opened a SIPP, which has £20 in there at the moment lol.

In terms of cash, I have just over £1,000 in my Emergency Fund. I also have £1,356 earmarked to have some building work done to our house.

I once had over £17,500 saved in a Lifetime ISA, but I used that as a deposit on my house two years ago.

Currently £30

Mid 40s. About £1m in pensions between us (roughly half our target level so paying in as much as we can at the moment) and £500k in S&S ISAs. £100k or so in cash. Our kids are young, so lots of costs to come but we’re trying to divert some spare cash into JSIPPs and JISAs for their futures over coming years.

I’m in a similar situation. I’ve wondered this too…

I have £10000 in savings, but if the worst came to the worst in terms of job loss, we have secondary sources of income (rental income from a property and a mini-business/side hustle that could be developed) . So I think in some ways that puts me in a better position than those with more savings but only jobs as income streams.

We also have a very low mortgage at £580/month and 8 years left

Wow what job do you do?!

70,000. Mixture of inheritance and personal savings but majority will be going on a house deposit as I am single on a very average salary! Will find it hard to save once I own a home sadly.

Well we are high earners but also a decent chunk was inheritance.

our pensions weren’t great since neither of us get an employer contribution so we have spent the past few years trying to build these up.

We have always been quite sensible with our money. Our finances are all joint so we discuss large purchases and the fact that we have no money specifically allocated to personal spends means we don’t really tend to buy much “stuff” unless we really want it. When we do spend it’s quite often on things to do with the house and garden so it increases/maintains the value of the house at the same time.

when we bought our house 16 years ago we put literally every penny we had into buying the house and then overpaid on our mortgage which meant that we didn’t pay nearly as much in interest. We paid the mortgage off in ten years and then put the money that we had been using for the mortgage into savings/pensions.

we are also however in our early fifties and both bought property in our mid 20s (late 90s). My first house was £28k

@Alicantespumante we’re both accountants and working at cfo level. There have been no particular big money bonuses over the years though - just consistently saving and starting pensions relatively early so that the relatively small amounts we were able to save at the start of our careers have now compounded nicely. Being old buggers and having been able to afford to get on the property ladder in our 20s was also a big help I think.

.

Took early retirement at 57 having just moved house and made some other (very) significant purchases.
Living on pension & investments now (SP is still many years off) but have no debts whatsoever, live a great life and still manage to put about £1k into savings each month.
Have about £250k in ISA's, PB's & savings.
Health issues mean that in a few years(🤞), some will have to be spent adapting the house (lift, wet room etc).

We have a fair bit (a few hundred k), but that’s only because my parents died and we inherited. Before that we had maybe 40k in savings.

We’re 50s so are thinking about retirement in the next 10 years or so. We now overpay our pensions, we weren’t in a position to do it until relatively recently.

£18k cash savings

Pension

House equity

I'm 52

35 years old.
5k in instant access savings.
250k equity with just 100k left to pay on the mortgage.
3k in pension pot- I know that’s terrible but I’m not too sure if I’m fussed about a pension pot yet.

No debt and own two cars. Will continue to save around £500 a month to build up other saving pots that I want to start, including investing.

2.3k. But no debt apart from mortgage and car finance.

I don’t have any savings at all