How much of your earnings do you save?

[kaptainmarc]

around 18%

but I have car finance and a long commute, once the car is paid off in the next year or so It will be around the 30% mark

 

[Spook187]

Saving up for xmas so i can buy a 1000 cans of beer

Rest goes on my House.

 

[Guest2]

Age 30. Around 20% but this depends on things like holidays to pay for, xmas coming up etc. Some months its 25%, sometimes it zero, others I will eat into savings

 

[sports_brah]

Most of it. A percentage is necessary for socialising, but aside from that,the vast majority is saved. Also got a 19% pension which I'm paying into. Only got student loans to pay off which I'm not bothered about.

 

[Gammawolf]

65% - 70% usually. Age 24.

 

[boxman2000]

30% which includes putting money aside for quarterly/annual expenses (insurance etc).

Would be more but wife isn't working at the moment whilst looking after family but once children at school then I would say more like 50%.

I'm a firm believer in putting money aside for each child, as others on here. The thought that in 15 years they may want to go to university or in 20 years get married and having to find the money then is a scary thought!

 

[xbenjiiman]

As a 22 year old on minimum wage, nothing.

 

[Sarah469]

after paying mortage bills/food etc about 23% saved age 24

 

[cheesyboy]

5-10% of household income. I'm early thirties, with wife (part-time worker) and two young children, and a fairly large mortgage (around 33% of net household income)

But at the moment, that's clearing a (interest free) credit card balance built up whilst Mrs Cheesyboy was on unpaid maternity leave earlier this year.

Savings got obliterated when we moved to a bigger house a couple of years ago, but will kick on again by spring next year.

 

[Flying_Hellfish]

Not much at the moment. We saved hard for our deposit though and now we have the house we have plenty to spend on.

 

[Yaayuh!]

Bugger all at the moment. Bought a house, done some work to it, looking to move in the next 6 months.

 

[branddaly]

Well this thread is making me feel completely inadequate. Presently saving 3.18% of my monthly income (ignoring pension).

 

[BuffetSlayer]

With a quick (and very rough) claculation I reckon we have a total of about 12% of our monthly income spare. How much we set aside depends on how we are fixed with bills and our social calendar.

We don't tend to save religiously, but as and when we need to.

But the government will screw us out of our money one way or another before we die, so what is the point? You can't take it with you.

My attitude is we work hard so we should enjoy the fruits of that labour. My wife is the saver and the banker. We tend to oppose each other with our financial ethic and in so doing create a good balance. In secret I accept that her way is right, but I won't ever tell her that - I prefer to make manly purchases with some hard earned to reinforce my power within the relationship and show her indoors who is boss. Then I run and hide till she allows me to come out again!

 

[jkb]

I don't save each month but I do tend to put bonuses into a savings account. I have, of course, just emptied that account to pay for house renovations so my current savings are zero.

 

[Muz333]

Absolutely nothing. However I'm 24, had a mortgage for a couple of years, currently doing a PhD so not on real money yet, a wedding to plan and have £20k savings already.

So while I may not be actively saving at the moment I've made a good start to life even if overstretching a little on the mortgage.

 

[Mucky_Pup]

Nothing at the minute, paying debts off, and overpaying loans at the minute to allow me to save for a mortgage, should be able to save about £1500 a month after I'm debt free.

 

[joeyjojo]

Well this thread is making me feel completely inadequate. Presently saving 3.18% of my monthly income (ignoring pension).

Don't worry about it, the posters in this thread are probably not typical, saving more than the average hence attracted to posting.

 

[Freefaller]

Bear in mind that everyone is different. Some people like to save so they can buy treats (be it a car, holiday, or a new computer etc...). Some people like to save for a rainy day fund. Some people are saving for a house. Some people just don't like having all their money in one account and squirrel away money to either invest or have a few savings to help them live in a debt free environment.

Saving helps some people (me certainly) in terms of financial planning. I know a lot of people have multiple bank accounts and assets in different things, not only property.

Just because someone puts aside a large proportion of their salary doesn't really tell you much, as they could be living at home with parents, have low expenses and whatever.

I don't think it is stupid not to save, but at the same time I wouldn't be comfortable if I didn't have a bit of a buffer. Saving for property is also quite a large financial undertaking!

 

[ImMrChris]

Wife, Mortgage, Kids, 2 cars, Save? lolz thats funny

 

[HangTime]

what is the point? You can't take it with you.

A lot of people want to leave a legacy for their family i.e. provide a platform for the next generation(s) to prosper. Inheritance helped my wife and I start building a life together (i.e. house deposit) and I'd hope that we can do something similar for our descendants in the future.