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Original poster

How much do you have in savings?

26 replies

SnowBells · 09/06/2016 09:07

We've had threads like this before, but I always felt they weren't explained well enough, and someone in their 20s may have been comparing themselves to someone in their 50s! So could you please participate in a little survey by answering the following questions:

  1. How much do you have in savings / investments?
  1. How old are you?
  1. How did you manage to get to that money (saving strategies, inheritance, etc.)?

Thank you!

OP posts:
lilydaisyrose · 09/06/2016 09:10

Aren't you going to answer first?

Caper86 · 09/06/2016 09:16

Errrr no. Why would anyone share that info on a public forum?

JeffersonCrisp · 09/06/2016 09:19
  1. enough
  2. old
  3. why
Allalonenow · 09/06/2016 09:22

Go and look at Money Saving Expert website, or speak to your bank, for help with planning savings.

Original poster
SnowBells · 09/06/2016 09:50

Caper86

As mentioned, we had threads like this before! Loads, in fact... but people just quoted their savings and that was it. Some people said they had zero savings and felt a little bad about it. Hence, I thought people should actually explain more.

OP posts:
Original poster
SnowBells · 09/06/2016 09:54

lilydaisyrose

Yes - I was on the road, so signal was crap. But here:

  1. Bought a house 18 months ago, so wiped most savings out. Saved during that time though and savings are now around £10k.

  2. Mid-30s.

  3. Saving a sum each month (not consistently, but getting better now that all loans are paid off) and part of my bonus.

OP posts:
Lweji · 09/06/2016 09:55

Not going to tell the amount, but not 0 and not millions.

40s

My parents started saving for me since I was young, including life insurance.
I always try to live below my means, and got extra jobs during periods of lower or no earnings along my main career, so that I wouldn't have to dip into my savings.
Any extra money is put on savings rather than spent on treats.
Also pay into a pension.

ilovesprouts · 09/06/2016 10:01

I'm 48 got 11k in my bank that's from a interim payment just waiting for my case to settle from an accident I had in Feb 2013.

specialsubject · 09/06/2016 14:25

Comparison is the thief of joy, as they say...

Everyone should aim to have enough stashed to cover expenses for several months in case of job loss or ilness. Then you think about longer term.

That's the ideal. Often much easier said than done.

Barmaid101 · 10/06/2016 11:59

Have a house bought 2 years ago, my grandparent 'loaned' a 15% deposit. we rent it out now due to moving and relocation across the country for work. That income covers that mortgage. And leaves £75 spare a month which is building up into a fund for the house, to cover when tenants are there.
Savings at zero while pay off credit card, it was expensive process moving 300 miles! In two months savings should start building up again

Mid 20s aware I wouldn't be where we are without grandparent help

Aim to start saving my full wage once credit card paid off as we are able to live off my husbands in the hope of buying again in the next 1-2years. We are in a rental at the mo.

whitefrog · 10/06/2016 12:08
  1. How much do you have in savings / investments?
About 60k
  1. How old are you?
36
  1. How did you manage to get to that money (saving strategies, inheritance, etc.)?
I had no savings and lots of debt until a few years ago. I was on very low pay and had to pay high medical and legal fees which ran up a lot of debt, and with no agreement to freeze interest or accept lower payments I was forced to go for bankruptcy. Then I got myself together, met DH, got married, and we combined incomes. He paid all the mortgage and bills as his income was much higher, supported me to retrain and I was then able to earn more and put away almost all of my income into savings. Currently saving to upsize our flat but it'll take a long time because there's a big jump in prices from a 2 to 3 bed.
youlittlecharmer · 10/06/2016 16:33
  1. 2800 in joint savings for wedding stuff and 1000 in personal ISA
  2. mid twenties
  3. setting aside a set amount each month - no inheritances, no help, no chance of buying a house in the next decade!
MorticiaLiverish · 10/06/2016 16:48
  1. None
  2. 47
  3. See answer to q1

My wages just about pay my bills and mortgage, none left to save.

wineandsunshine · 12/06/2016 16:41

3.5k
Aged 33
Saving a set amount from both wages each month...trying for a mortgage in about 10 years...

Babyroobs · 13/06/2016 09:23

I have none, dh has around £7k but in his own name( small inheritance). We don't save anything at present, we just about manage on what we have coming in from 2 incomes.

Suzietwo · 13/06/2016 09:37

A more interesting q might be 'what is everyone saving for'?

I was saving for loft extension and garden revamp and private delivery of baby.
The lot pretty much wiped me out aside from some longer term investments
I'm now saving for the rest of the work in garden and a general replenishment of my offset mortgage account

Dachshund · 13/06/2016 10:33

  1. a few grand
  2. late 20s
  3. had more from saving a set amount a month but paid off 2 overdrafts. currently saving for mortgage and wedding Confused. received a small inheritance recently and try to live frugally but with a young DD it's not as much as I'd like!

no pension which terrifies me as I'm not planning on going back to work for a few years

wavingnow · 13/06/2016 10:39

£100 exactly as I was able to round it off last month.

Late 30s.

Scrimped and saved penny by penny.

MazzleDazzle · 13/06/2016 10:59

As an individual or couple?

I have £10K of investments in my name only and £4K in my own savings account.

I'm in my mid-30s.

Half of this was from inheritance and half was from saving something every month.

Currently my earning potential is limited (on maternity leave, will return PT if at all), so I'm not planning on spending it. It's my 'if the shit hits the fan' safety net.

MazzleDazzle · 13/06/2016 11:07

I married/bought a house in mid-20s, so 10 years on I've managed to build up savings. If I'd waited until my 30s, I'd probably be poorer than I am now but would have had much more fun.

MrsMarsch · 13/06/2016 11:18

Why are people answering this with so many personal details?!

Heatherbell1978 · 13/06/2016 17:49

About £25k - saving from salary.

Late 30s

We've just bought a house so a lot of our monthly money is going into this at the mo. We're overpaying mortgage rather than saving now though as rates are so low.

justdontevenfuckingstart · 13/06/2016 17:51

None, 41, none.

GretchenBeckett · 13/06/2016 17:55

If a stranger walked up to you in the street and asked about your savings there's no way you'd tell them. But someone does it on the Internet and loads of you do Confused

Salene · 13/06/2016 17:59

36 years old

Savings in the 6 figures

Husband works a dangerous job in Africa in a high paying industry and we didn't have to pay uk tax untill recently as his employer paid it as a incentive to keep people as its a very tough job.

So we could save a lot a month. This has slowed right down now due to industry in crisis infact husband prob away to be paid off and won't work for 2 years so savings will need to tide us over for living expenses

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