How much do you save?

[Alice Roosevelt Longworth]

I put £500 a month into joint savings (as does my husband), but zero personal savings for me as any disposable income that I have left over is currently paying off my credit cards.

Really want to get my debt paid off this year so that I can start building up a personal nest egg and increase my pension contributions.

 

[Not fussed]

£6 a day? Sorry to sound stupid here but I don’t have kids, is childcare that expensive?

The nursery we use is actually pretty reasonable, it's £37 a day. A lot can be £50+

But once my second goes, I get a 10% sibling discount. Then I use the tax free childcare account which gives you £2 for every £8 you pay in so I'll be paying roughly £56 a day (assuming my maths is right)
And my salary works out roughly £62 a day

 

[Boredinstagrammer29]

Live alone with a mortgage so Atm I only manage to save £150 a month and about £350 on credit cards (had to buy a car for my commute to work) and £200 student loan will be paid off in 9 months so fingers crossed can save £500 a month by next Jan (for a bigger mortgage with partner)

 

[Lyds26]

Absolutely nothing

I pay all my bills and childcare fees the day I get paid and have nothing left for the month.

My nan died this month and I don't even know if I have the money to get flowers for the funeral

So sorry to hear about your Nan passing away x

 

[IrishName]

Percentage wise I save 12% of my salary annually and we overpay our mortgage by 10% (the maximum before charges occur) annually too. I pay 9% of my salary into a pension and it is matched by my employer.

My husband and I have lived frugally for years as we had kids young whilst studying and then accrued more debt than most as our degrees are longer than average. So our priority was paying down our debt and once we paid that off we continue to live frugally as our next aim is to pay off our mortgage by 45 (we are both 36).

It’s worth having a read of something like the money saving expert forums for ways to save and cut back.

I’ve just added one of those change saver things to my Lloyd’s bank account. It rounds up every pound you save and saves the change. I’ve already saved £12 this week with that method and I didn’t have to do anything.

 

[Sweettutu]

Percentage wise I save 12% of my salary annually and we overpay our mortgage by 10% (the maximum before charges occur) annually too. I pay 9% of my salary into a pension and it is matched by my employer.

My husband and I have lived frugally for years as we had kids young whilst studying and then accrued more debt than most as our degrees are longer than average. So our priority was paying down our debt and once we paid that off we continue to live frugally as our next aim is to pay off our mortgage by 45 (we are both 36).

It’s worth having a read of something like the money saving expert forums for ways to save and cut back.

I’ve just added one of those change saver things to my Lloyd’s bank account. It rounds up every pound you save and saves the change. I’ve already saved £12 this week with that method and I didn’t have to do anything.

We are mortgage free. Best feeling in the world. SECURITY.

 

[memoii11]

Not really sure why you commented on my thread then

Sorry.

I shall leave.

 

[erin182]

Maybe £50 a month but I’ve always been a spender rather than a saver. I won’t save unless it’s for something specific

 

[Viewer1901]

Currently saving about £5K a month in various accounts.
we have a big saver account where most of if it goes and then I have a savings specifically for the vehicles and one for holiday spending money.
Luckily our mortgaged is paid as we scrimped and scraped when we were younger. Now we blow some of it on frivolous things.
This might sound stupid but since our disposable income increased I don’t enjoy things as much as I used to. Don’t get me wrong I am super grateful for our lifestyle, especially as it affords us to look after both sides of the family, but there was more joy in buying things when you’ve had to save up for it.

Send me your disposable income and you can save for things and enjoy them again? Win win right? I jest.

As with others - I’m very lucky to live at my mum’s rent free so I put about 1/3 of my monthly salary in various accounts.

 

[Chocolate Caramel Brownie]

I save nothing I used to have savings due to inheritance and bought my home so I’m mortgage free. However, my bills, child care etc just make it all disappear each month. Quite depressing really when you think about it

 

[Death2unicorns]

Yea

£6 a day? Sorry to sound stupid here but I don’t have kids, is childcare that expensive?

yes, it is very expensive, my nursery is 42 a day, she goes four days a week, but I am in the north and that’s actually very cheap compared to elsewhere in the country
We are actually priced out of having a second child because we can’t afford childcare for two children and by time my little girl doesn’t need the childcare I’ll be too old

 

[Dizzy]

We don’t save as such (although we have about £12k in savings which came from inheritance, house sale, etc ) but we pay around £1k into our pensions each month. We also pay £160 each month into our kids savings accounts (there are 4 of them so it’s not that much each).

 

[Hc68759]

It varies. Sometimes only £20 per month if I have loads of outgoings (tax bill, holiday to be paid for etc). Other times it can be £500 if I spend the month at home doing nothing after work. My partner usually saves around £500 per month.

 

[Viewer1901]

I’m 25 and currently still living at home saving for a deposit. I only pay minimal rent (£500 a month including all bills, food, council tax etc.) and so try to save £1000 each month and then have about £300 disposable to spend and enjoy. Getting close to my own house now but part of me doesn’t want to leave!

I keep looking at houses but I have it so good here it’s going to be a big change

 

[chocolate choux]

Currently nothing really as I have a small income. I try to save here and there but something always comes up and any savings disappear with an unexpected cost

I have a decent sized savings cushion in my bank account that I don’t like to dip under, but I’m struggling to add to it. I couldn’t deal with the stress of having only a few pounds left until payday and I feel lucky that I don’t have to be in that situation. Recently discovered the money savvy community on Instagram though so hoping to start saving more

 

[101d]

Nothing. It's bad, I run out of money and don't know how. But I do have savings which mainly comes from family

 

[bella578]

£200 a month but wish I could save more.

I heard you should have at least 3 months worth of wages saved up.

 

[fireflies]

I’m doing a save the change too, I started in October and already got about £70 in, not much but I don’t notice it going out.

The lady at the bank said she saved 200 without even trying hopefully if link to mine and my husbands accounts we can save some money without too much hardship.
Same with penny challenge.
Also this year might try use cashback sites more and see if there's a nice sum in there end if year to buy something we need for the house .
Actually talking lump sum from wage and putting it in separate account doesn't work too well.
Trick is standing order on pay day so it's gone and I might force husband to do this as we recently negotiated for next 6months £50 savings on phone.
Sharesaves can be great way to save if employer offers that option.
Credit unions have Xmas savings which seems better than park as more flexible can vouchers.
Post office also do Xmas savings but thats voucher.
Did shops still do food stamps but most moved onto gift cards.
Think tesco Morrisons Iceland and farmfoods still do stamps to save towards Xmas shop.

 

[Lyds26]

Some months are better than others. Recently savings have been used for house stuff and replacing items etc so they are sitting at £150. I aim to save £325 a month if I can but last year I had to withdraw it almost every month. I've dropped money in my new job so may need to reassess that. My share of the bills is £1000 a month. That doesn't include petrol, union fees, mobile phone, registration fees for job though.

I think even if you’re having to withdraw it, at least the momentum is there to save and the intention. We have to dip into ours frequently too, and things are really expensive where I live compared to in the UK. I’m still in Europe.

 

[Sweettutu]

Ha ok well up until recently we saved probably about £5k a month. But that will stop once We eventually get made redundant.