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[Finance] How much savings do you have ?
- Thread starter Napper
- Start date
juliant
Well-known member
Me zilch but I also owe zilch too. The Mrs, over 50K held in premium bonds but most of that was an inheritance.
spongy
Well-known member
Absolutely zero.
Don't earn enough to.
When I can save 200 quid the car fails an mot or need to buy something else that's broken. Been saving for a new bed for a year then the Mrs car dies. Always one thing after another.
Earn 50k? 30k would do right now!
Don't earn enough to.
When I can save 200 quid the car fails an mot or need to buy something else that's broken. Been saving for a new bed for a year then the Mrs car dies. Always one thing after another.
Earn 50k? 30k would do right now!
Thunder Bolt
Silly old bat
None at the moment, but will have soon.
- Jul 7, 2003
- 47,641
Dick Swiveller
Well-known member
- Sep 9, 2011
- 9,533
Normal Rob
Well-known member
if you mean pure savings (as in money in bank, shares etc) - £0
Some collateral in the house, plus been contributing to a pension for about 15 years.
Some collateral in the house, plus been contributing to a pension for about 15 years.
Albion Robster
Well-known member
Not telling you!
pearl
Well-known member
A pint glassful of 1 and 2ps 
Thunder Bolt
Silly old bat
It's ok. I'm waiting for a will to be paid out from a dear old friend who died last year. She was aged 100, bless her.
Possibly the best thing I ever did money-wise, quite early on, was to setup a separate bank account that I moved cash into every month on pay day for all the things that were either annual bills or to cover things that could happen from time to time. The amount I saved was equal to what each of those things cost a year divided by 12. So, for example (and some of these numbers are just there for illustration)...
- Car Insurance - £30
- Car Tax - £20
- MOT and car maintenance - £30
- TV Licence - £10
- Christmas (presents and general increased expenditure) - £50
- Other stuff going wrong - £50
etc etc
Now, I fully appreciate that if things are tight, it may be easier said than done to get this up and running, but it meant that I was constantly saving for things that I'd need to pay for, but I wouldn't have one of those "I could really do without the car needing new tyres as the washing machine needs repairing too" months.
I'd keep track of each individual "pot" within the account, and I'd often find that one pot may go negative but that would be offset by other pots being positive. At the end of each calendar year, I'd asses whether I was saving enough or too much for each individual thing, and adjust if required.
It really made a difference when it came to money stresses, at a time when I didn't have much spare money.
A couple of years gross pay or thereabouts. Saved very little at all until early/mid 40s but a combination of clearing mortgage, fewer other commitments and job changes since then have helped.
marcos3263
Well-known member
I have a few grand but spunking it all on a new bathroom which is probably a really silly idea. but I will stop overpaying the mortgage for a few months to pay it back.
I am over paying the mortgage by £500 a month in an effort to be mortgage free in 9 years (so I will be mid 50's) this seems more sensible than money in the bank not earning interest.
However I am an only child and when father snuffs it I will inherit his property and a few sheckles so I do have that to look forward to. In an unrelated question - how cold will it be this winter and can anyone tell me the best way to disable a boiler?
I am over paying the mortgage by £500 a month in an effort to be mortgage free in 9 years (so I will be mid 50's) this seems more sensible than money in the bank not earning interest.
However I am an only child and when father snuffs it I will inherit his property and a few sheckles so I do have that to look forward to. In an unrelated question - how cold will it be this winter and can anyone tell me the best way to disable a boiler?
jameswestport
New member
- Sep 7, 2011
- 927
Where's the poll? £5k + trying to save for a deposit someday
Moshe Gariani
Well-known member
- Mar 10, 2005
- 12,203
This is extremely good advice. In fact I can't see how anyone with only just enough money annually could possibly manage without doing this. These days it is made a bit simpler by more things being on monthly DD but "Christmas & Birthdays" and "House & Car" are essential pots to save into every month if you are on a limited and fixed income ...
Is it PotG?
Thrifty non-licker
About £8.60, but Initiative Q may well change that.
Da Man Clay
T'Blades
- Dec 16, 2004
- 16,286
Not as much as i’d like. I was dreadful with money until about 25 though. I still find it incredible that money management wasn’t taught in school. I’m 31 now and have pretty much fully sorted myself out. Just finishing off my last small bit of interest free debt and then will concentrate on building up the savings. I’m over paying the mortgage by about £300 a month at the moment though as think that is much better concentrated on in the long term.
Weststander
Well-known member
Many millions can’t afford to do that. Instead fire fighting each month to meet each DD or groceries bill as they arise.