How much do you save?

[Cotty]

limpsfield said:

I spend all my money from my good job on nice cars so save nothing.

Every one could do the same. I suppose if your outgoing is less than your incoming then the excess gets put away.

[tleefox]

The Spruce goose said:

nothing

Same here - missus has been on maternity leave for the past 9 months, 3 of which without salary. I spent 6 odd months before that saving as much as I could to have enough in the bank so she could take a year off. I got a new job a few months back which meant we don't need those savings so have used it for an investment property instead.

[superkartracer]

talkssense said:

My old man sacrificed holidays etc
He retired, and two months later he died.

This , all about balance.

I know some people that work 100 hours a week but they LOVE it, it's their life, they earn millions a year and it's not a about the money and never was. I also know many more that earn little but spend spend spend , they also seem very happy but have f-all to show for it.

Just find your personal balance, there are no rules.

Edited by superkartracer on Monday 22 June 10:26

[BrabusMog]

I save 50% of what's left after all bills are paid. On bonus months that is a good chunk, other months not so much! And if I need to make a big purchase I usually won't save that month, as I like having a good chunk of "fun money" each month, life's too short to just save all the time.

[a311]

Fudge all these days. With rates the way they are we're overpaying our mortgage as much as possible while still having enough spare cash to eat out go on holidays etc. I do still save a monthly sum but it's just a physiological thing as it gets hit for holidays, weekends away etc.

[Patch1875]

A

a311 said:

Fudge all these days. With rates the way they are we're overpaying our mortgage as much as possible while still having enough spare cash to eat out go on holidays etc. I do still save a monthly sum but it's just a physiological thing as it gets hit for holidays, weekends away etc.

I'm exactly the same.

[TheLordJohn]

Don't really save a penny. Classing the mortgage as our savings account these days.
Will be remortgaging in the next couple of months once we've finished wit our upgrades, then borrowing as much as possible to buy more houses with!!

[Hungrymc]

talkssense said:

My old man sacrificed holidays etc and put loads in a pension on the basis he would do all the things he wanted to when he retired.

He retired, and two months later he died.

Live life while you can and make sure you save enough, but don't live a quiet life on the basis that you will do stuff next month/next year/when you are 79, because it might never happen.

You hear such sad stories all to often, it's all about balance. I do most of the things I want to, but save quite a lot as well (between pension and cash savings).... But I'm not really saving for any great future plan. I'm saving to help get through any hard times and to have options when I get into my 50s.... And if I never see the benefit, hopefully it will be a big help to my children.

[Craikeybaby]

At the moment I'm able to save a fair bit, probably about 45% of my take home pay, that is split across short term saving (new car fund) and long term saving S&S ISA/pension.

[megapixels83]

between me and the wife, after mortgage, groceries, petrol, our known expenses such as life insurance, mobile bills, sky etc, savings and expenses for our little boy we save £1650 and leave ourselves £500 each for treats.

[NerveAgent]

60%+

Upped my income but not my lifestyle.

I have found it amazing how much it snowballs. Mortgage overpayments resulting in cheaper mortgages. 3 years in to a 25 year mortgage suddenly becomes something to paid off in the next couple of years.

[Craikeybaby]

That's a good point, I didn't really consider paying extra on the mortgage to be saving.

[GT03ROB]

Craikeybaby said:

That's a good point, I didn't really consider paying extra on the mortgage to be saving.

...but it's not, surely, unless you are intending to downsize at some point in the future.

[anonymous-user]

I save about 15k a month. Depends what I have to spend on the Aston & the Yacht. Hold on, I seem to have taken a PH bullst pill like s lot on here!

[okgo]

Jimboka said:

I save about 15k a month. Depends what I have to spend on the Aston & the Yacht. Hold on, I seem to have taken a PH bullst pill like s lot on here!

lol, because the figure is different to what you do it must be BS?

[Timmy40]

Before I had a family about 70% of my income.

Now? Bugger all. I am the bank od Dad, the bank that never closes.

[superkartracer]

Yeah, thinking the same...

What a pointless post ; in these days of heavy debt , i find the subject of saving quite interesting.

[Welshbeef]

GT03ROB said:

Craikeybaby said:

That's a good point, I didn't really consider paying extra on the mortgage to be saving.

...but it's not, surely, unless you are intending to downsize at some point in the future.

But it is once you have cleared it you can then generate the saving pot from what you had been overpaying either in full or a % of it.

Plus eat bit of all if you lose your job etc you could turn heating and electric off so just council tax water and food. - you could become self sufficient grow your own fruit and veg and install energy generation at your pad.

[hornet]

GT03ROB said:

Craikeybaby said:

That's a good point, I didn't really consider paying extra on the mortgage to be saving.

...but it's not, surely, unless you are intending to downsize at some point in the future.

It's a saving in the sense it reduces future liabilities and exposure to interest rate changes. Not a saving in the sense of building a reserve, but it does buy you opportunities in the future, as the money you'd otherwise be paying in interest can now be put to more productive use.

[RizzoTheRat]

Well for some of us it wouldn't be saving because I can get a better rate on savings than I'm paying on my mortgage


Not that I'm smug about my mortgage rate