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  • FIRST POST
    misskl
    Average amount of savings for a 30 year old...
    • #1
    • 3rd Apr 14, 1:37 PM
    Average amount of savings for a 30 year old... 3rd Apr 14 at 1:37 PM
    Ok, so I know this question depends very much on circumstance, but I'm trying to get a general picture of what is considered 'average' in terms of how much a 30 year old (no mortgage) has.

    I'm almost 30, and slowly getting out of debt, but have a VERY minimal amount of savings. I've always been boom/bust when it comes to money, and I love spending money- a habit that will have to change!!

    I wish I could do a straw poll amongst my friends to see how much they all have saved up, but I don't feel I can (we keep our finances so under wraps in this country!)

    Basically, I'm clueless. But I'm thinking as a good start, to have:
    Emergency fund: 3-6k (six months expenditure)
    House deposit: 10k
    Fun fund (holidays, etc): 2k

    I'm basing this on the average UK salary, which I think is 25k.

    Any advice??

    Thanks
    finally debt free,becoming wealth conscious!
    *LBM- October 2013* *Debt free November 2014*
    ~ Debt (Loan): £8500
    ~ Debt (Card) £2700
    ~ISA(Emergency) savings:~
    ~ House Savings- £1700 ~ LT savings ~ Pension Pot £600
Page 5
    • ringo_24601
    • By ringo_24601 4th Aug 17, 10:18 AM
    • 17,120 Posts
    • 27,854 Thanks
    ringo_24601
    How much equity do kids count as?
    • savingwannabe
    • By savingwannabe 4th Aug 17, 7:51 PM
    • 13,050 Posts
    • 46,602 Thanks
    savingwannabe
    If they have promised to pay towards your retirement a lot. Otherwise they are v expensive in terms of costs but the joy they give is priceless. Somethings I think cannot be measured on a balance sheet.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Feefeefalloo
    • By Feefeefalloo 24th Aug 17, 5:13 PM
    • 21 Posts
    • 1,054 Thanks
    Feefeefalloo
    I'm 30 and I have about 6k in savings husband has 7k (hes 26). Earn around £35k a year between us. We have mortgage and no kids. We saved up a £35k to buy our house so I think we're quite good savers.
    • PEHsaver
    • By PEHsaver 13th Jan 18, 9:11 PM
    • 12 Posts
    • 5 Thanks
    PEHsaver
    Interesting thread , I am now 28 , I am single and recently bought my first home 12 months ago at age 27.

    Whilst living with parents and working full time I managed to save a total of £35,000. I have no student debt as uni education was payed for by my employer.

    I put down a £14,000 deposit on my home and have since payed off an additional £5,000 towards the capital. The house has also hiked in price by £5,000 giving me a total of £24,000 in home equity.

    Along with this I have recently trickled £5,000 cash savings into the stock market over several months for cost averaging and will be adding to this each month so that compounding works for me over the next 30 - 40 years until retirement.

    I also have £18,000 in cash savings , £8,000 of which I am slowly feeding into the stock market. I will be keeping back a 6 month emergency fund (£10,000)

    Not long started pension since the new regulations came into play so have around £2,500 in that.

    • savingwannabe
    • By savingwannabe 14th Jan 18, 6:29 PM
    • 13,050 Posts
    • 46,602 Thanks
    savingwannabe
    Gosh that's brilliant. You are v money savvy. Well done.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
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