How much do you save a month?

dl8860 said:
Dual income, living in leeds, no kids. You don't have to be earning all that much to be able to save much more than the vast majority of people.
Click to expand...

Yeah, we're pretty lucky that we've both progressed at work to have above average salaries now as well. First time ever that my finances have been in a good shape. I was terrible with money in my younger days and had a small mountain of debt to pay off!
 
Nothing! The past few years of my life have been the first time I've been able to do pretty much everything I've wanted... so I'm doing it. It's extremely liberating. My mortgage is extremely manageable - this wouldn't be possible if I was saving for a deposit.

In 40 years am I going to look back at a nice holiday and think 'man I really wish I didn't do that and overpaid a mortgage a little more'.... I sort of doubt it.

When I start thinking about kids that will all change, I think.

Actually - now that I have everything I feel I reasonably want I can save quite a bit.
 
Excluding voluntary pension contributions. 20% hopefully more when my wife goes back to work.

I'm saving for house building work or towards another deposit if we decide to move.

I also have saved enough to pay mortgage for 6 months. I don't take anything out of that account. That's my if the "**** hits the fan" account.


It's great to see how many people are making a conscious effort to save. Something that I didn't start doing till I hit my 30s. Wish I had started earlier, but I went a bit wild in my youth and was enjoying life more than I could afford it.
 
We save very little, probably around £300 per month. We did mortgage our house over 10 years instead of 25 as originally planned though; we've built up enough equity to now move into our 'forever' home without the need for lots of savings.
 
Currently, £2500, we are looking to get our first house asap. After we've bought it, the plan is to overpay by £1000 month on the mortgage and stick £250/£300 into a "rainy day" fund. I've just turned 30 and always been crap with savings so playing catch up a bit!
 
15% pension (me 5%, employer 10%), then anywhere between £200-1000pm into my ISA. The girlfriend does similar herself.

Having said that we're thoroughly fed up of saving for no apparent reason. I can't see us being able to buy a flat any time soon in an area we'd like. Moving further out just shifts the expense of rent over to the expense of commuting. And saving rates are embarrassing. You barely break even. So we went to the Hawksmoor this weekend :D
 
Me, nothing, three of my pensions mature in 2 1/2 years (at 55) so that will be a nice chunk. Encouraged our son to save £500 a month into a Santander 123 since he started work, once he gets to 20k he will set something up elsewhere. He's not far off now, which isn't bad at 20.
 
Around 20% (give or take) of our combined take home.

It gets emptied every couple of years though (as that's what it's for). Pension and shares separate to that
 
Nothing at the moment, I'm still dropping about 40% of my net off against debt from some bad decisions in my late 20's / early 30's.

I have a small savings buffer, and should be clear of debt within the next 10 months.
 
The Mrs and I have a nest egg, which we only contribute £200 to this each month currently. With crap interest rates on all types of ISA's, barely seems worth it. The best performing ISA I/we have is only returning 3.3% currently.

The rest of what we can afford (which varies each month between £750-£1000) goes to mortgage overpayments and private pensions which seems like a better investment at this time.

OP, if you have a mortgage, I would recommend you overpay on that first before worrying too much about savings... unless you have a particular reason to save such as buying a house.
 
Uther said:
Me, nothing, three of my pensions mature in 2 1/2 years (at 55) so that will be a nice chunk. Encouraged our son to save £500 a month into a Santander 123 since he started work, once he gets to 20k he will set something up elsewhere. He's not far off now, which isn't bad at 20.
Click to expand...

That's good going and very disciplined for someone so young. He'll thank you for that in the years to come.
 
You must log in or register to reply here.
Back
Top Bottom