How much money goes into your savings account each month?

[fixitfixit]

I was wondering if £200 a month is enough savings?

£400 a month - a bit less than 10% of my take home pay

About £1k, sometimes more depending on expenses that month

There are three things to consider when saving:

• what amount have you got left after paying bills?
• what is your target savings amount? - it is widely recommended to save 3-6 months' living costs in case of emergency, and then you have other savings to make e.g. pension or a house deposit
• what would you do with any money you don't save? - so if you are saving £200 but spending £1000 on stuff you don't need why are you not saving more?

The actual amount anyone else is saving is not really relevant to you as their answers to those three questions may be very different.

However saving £200 is better than many people can afford, a great many people are saving nothing at all, so if this is all you can afford then do not be downhearted.

A bit, tho I do save the change roughly £300 alone

Between 500 and 2k into my savings, and also put between 200-600 into DD’s account per month.

Nothing. There is literally nothing left once everything has been paid for. I live in dread of things breaking.

Nothing at the moment as paying off credit cards, in a few months will be roughly £500-£800 pcm

Agree - what you can afford.

I was able to save quite a lot before I had children but now spend around £800 on nursery fees. I easily saved more that before but don't have the savings now as we spent them on home improvements!

I try to save £200-400 a month but don't always manage. I need a budget.

Between £1,500 & £2,000. Saving for work on the house.

I am on a fairly low income and I 'save' more than I used to when I was single and earning more. Its not so much savings though as putting aside for essentials- have one pot for replacing my car that I need for work, another put for larger household expenses including water bill, tv license, car insurance, mot and service, even new shoes, another pot for tax on my self employed earnings, another for repairs on my house. So its several hundred I put aside, but all the pots are regularly emptied to zero. I just did a rough calculation of how much these things cost and how much to put aside each month. Very dull but satisfying to have the money when you need it!

I never saved a penny, then I signed up to Plum, on the advice of someone on here.

Since August of last year, I have saved over £1k, without even trying and I haven't missed the money.

It's been brilliant and I would definitely recommend!

Aside from my investments and workplace pension, I try to save £100 a month for holidays.

I save over a month but not over a year. Savings are for things like essential annual car service, tyres, repairs to get it through the MOT.

As others have said it depends what for, if it's for something like a holiday it sounds fine. We don't save anything as we are retired so we are spending it instead.

Like others say- it is all relative.

I put away £200 a month for holidays and days out. £75.00 a month for gifts and Christmas.

This has become a struggle tbh.

Savings can mean such different things too.

Every month I put money into separate accounts for holidays, car repairs and insurance, Christmas etc - they aren’t proper savings but they get us through the year without nasty surprises.

I pay into a pension every month - proper savings, but long term, obviously.

Then I save into an ISA, premium bonds, a savings account and my DD’s savings account. I suppose I consider these “proper” savings.

There are so many variables, so much depends on your stage of life, two people can’t really be comparable I don’t think.

Very little. But bloody loads into pension, a small amount into DD’s savings, and we have an emergency fund already in place for, well, emergencies.