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Original poster

How much do you have saved?

164 replies

lilythepink32 · 02/09/2020 23:01

Just that? How much savings do you have?

We have a home, pension etc. But I'm talking about savings account?

I'm 29.

  • *Title edited by MNHQ **
OP posts:
Original poster
lilythepink32 · 03/09/2020 10:34

There was a post recently about how much do you have saved for your children. I felt it was a very boasty post, but everyone left amounts. I'm not sure why mine had such an adverse reaction.

OP posts:
Parker231 · 03/09/2020 10:35

It’s irrelevant as everyone’s income and expenditure is different.

Original poster
lilythepink32 · 03/09/2020 10:35

@honeygirlz

So you’ve just bought two properties outright with no mortgage, live in the third house and your husband has huge savings, and yet you only have £6k saved and spend recklessly? And you’re comparing yourself to people who only have £500 in savings? What is the point? You must know that you’re never going to be in the position of those who lost their jobs and had no savings during coronavirus. People who are genuinely well off don’t post threads like this, OP.
I only have £6k as I had just bought a property. I'm now wondering if that was a silly thing to do as properly isn't always accessible.

No need for this post! Either leave your positive comment or go somewhere else. Blush

OP posts:
Original poster
lilythepink32 · 03/09/2020 10:37

@supercee

Thank you! Exactly! I'm just very intrigued to have a general consensus! It's not something you get to know in 'real life'!

OP posts:
Original poster
lilythepink32 · 03/09/2020 10:38

@TheAirbender that's good to know. Maybe we should look into it.

OP posts:
Original poster
lilythepink32 · 03/09/2020 10:40

@userxx it's an anonymous forum so it doesn't matter does it?

OP posts:
lunar1 · 03/09/2020 10:41

I have enough to pay off my mortgage if I need to £64k, pay two years of school fees -£40k, and live as we do now for about 2 years, longer if we cut back on sky etc.

I have a rental property with no mortgage so would have some income still, though I halved the rent for a while as my tenants were badly hit financially.

With the exception of school fees we don't have any really extravagant expenses. We have a nice life and our house is in a cheap area with lovely neighbours so I can't see us ever moving from here.

lovelyupnorth · 03/09/2020 10:43

@lilythepink32

And no it's not joint! We don't have a joint account, it's not the 1960s
We all ways had one pot at different times we’ve earnt higher or lower but as a family we run our finances as a team.
BarbaraofSeville · 03/09/2020 10:44

^I've spoken to a few friends recently, my age and both had mentioned they had £40,000 roughly saved.

I just wondered if that was the norm^

Do you honestly think that it's 'the norm' for people in their 20s to have £40k saved and have their own home and a property portfolio?

You obviously have a couple of very wealthy friends, but look at the people around you. The people who work in the shops, bars, restaurants, salons, offices, nurses and reception staff at the medical facilities that you use etc. Do you think they all have savings, a high earning husband and a property portfolio?

Does it make you feel better to know that you're probably better off than 99% of people your age?

lovelyupnorth · 03/09/2020 10:44

We have about £20k in cash. Plus investments due to mature in the next couple of years. Also have about £40k in our partnership business account.

blue25 · 03/09/2020 10:45

I have 35k and pay quite a lot into my pension each month. OH has similar.

RantAndDec · 03/09/2020 10:46

I don't think that there's anything wrong with this thread.
I have a big savings pot but I'm self-employed and am aware that my work could dry up any time. My hope is that I'll be able to pay off my mortgage with my savings in the next 5 years. Also, I have no pension, so once my mortgage is paid I'm going to sort all that.

I would say that you're in quite a precarious position, what with your DH being the main earner and payer of bills. If I were in your place, I'd make sure I had savings for a good few years, because if things ever did go wrong in your marriage, you want to be able to support yourself (I take it your properties will do this to some extent) but also, you don't want to be downgrading your lifestyle. (I say this from experience!)

20viona · 03/09/2020 10:51

I'm 30 married and with a one year old. I have £21k in savings and my husband has around £20k.

Youneverknowwhatyourgonnaget · 03/09/2020 10:53

Think some of the posts on here sound rather jealous of you but I think you sound like you have nice set up you should be proud of! You are married so all money really is both yours! I’m 32 by the way have around £120k savings 2 rentals but no pension

Lyricallie · 03/09/2020 10:55

I have about 9.5k and my fiance 14k which we are using towards our wedding (which has been delayed) so instead were looking to buy a house. We are 28 and 29. So it will look lovely in our accounts until it goes on a deposit.

CherryPavlova · 03/09/2020 10:58

We had very little in the bank as in the early days we used what we saved as soon as we had accumulated sufficient to invest. We scrimped in everyday life for the longer term gain; it worked for us and our children.

weepingwillow22 · 03/09/2020 10:59

This might help you OP. The mean amount of savings for someone in their late 20s is £11k.

How much do you have saved?
Margo34 · 03/09/2020 11:00

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

Iminaglasscaseofemotion · 03/09/2020 11:01

Right now we have 5000 saved. Hopefully be more by the end of the year but we have a lot of expenses coming up. I'm unexpectedly pregnant and will need to use whatever we save for maternity leave next year so it will all be gone by the end of that.

Original poster
lilythepink32 · 03/09/2020 11:05

@RantAndDec

I don't think that there's anything wrong with this thread. I have a big savings pot but I'm self-employed and am aware that my work could dry up any time. My hope is that I'll be able to pay off my mortgage with my savings in the next 5 years. Also, I have no pension, so once my mortgage is paid I'm going to sort all that.

I would say that you're in quite a precarious position, what with your DH being the main earner and payer of bills. If I were in your place, I'd make sure I had savings for a good few years, because if things ever did go wrong in your marriage, you want to be able to support yourself (I take it your properties will do this to some extent) but also, you don't want to be downgrading your lifestyle. (I say this from experience!)

That's great to know and good input. We're in a happy marriage but you never know what the future may bring! I agree, I think it would be better to have some independence financially.
OP posts:
Original poster
lilythepink32 · 03/09/2020 11:08

I am NOT a gold digger @Margo34

What is your problem? 😩 You are sounding very bitter. There is zero need for you to be on the attack. Please remove yourself from the thread if you have nothing productive to say.

OP posts:
Rudolphian · 03/09/2020 11:08

I've got about 43k in premium bonds easy access- but we saving for a house deposit.
About 10 k on a savings account again for house deposit. Have some hundreds in random accounts. Will need to check probably total £500- 1k
I have about 7k in a nsi index linked account that I dont want to touch but can access will lose this years interest if I do..I have some money in a vanguard ISA fund ? 2k but that's longer term saving so I pretend it doesn't exist. Am.in a pension salary linked.

Original poster
lilythepink32 · 03/09/2020 11:08

@weepingwillow22 that's great to know, thank you.

OP posts:
Paris3404 · 03/09/2020 11:08

Poor OP is getting a bit harangued from these keyboard warriors. OP I have 3k in savings but like another poster I'm also a single mum with a small child and I have rent, childcare and bills to pay. My 3k pot isn't something I want to touch and hopefully when DD gets free 30 hours childcare I can add significantly to it!

Youneverknowwhatyourgonnaget · 03/09/2020 11:09

Margo that is great for you but we all live differently so stop judging! What works for you and your husband might not work for others! She has said she pays luxuries and holidays has 2 rentals which are paid for and she will receive an income from. If she was the childish gold digger you accuse her of being she wouldn’t be working or of invested her money in property would she. They are clearly working as a team as a married couple should do!