How much do you save a month?

fattyc

Hi just wondering how much the average person saves these days? We can save £700 per month which we think is quite good. We could have a great time spending these amounts this month but decide to save it and be sensible. Just wondering how much other people save?

Lokolo

Depends on the month and the year. Last year I could save around £150-200. Then I would save student loan. This year I can save around £500+ a month.

JimLad

I try to save £1000 a month, but thats only because i live with my parents.

Most months though something comes up to dent that so usually about 700 - 800.

Saving for my first house and a new car. Not sure which one first.

sheslookinhot

I am saving about £700 per month, this includes about £120 per month for Xmas presents. I also overpay my mortgage by about £560 per month.

JimLad, forget a new car, save more towards your house, you will not regret it.

Doomcow

its not how much, but which % you save.

im currently sitting about 50 - 60%ish... but then i am saving for a wedding.

post wedding looking to pay off mortgage / save for a deposit for new house.

Jonbvn

Doomcow wrote: »

its not how much, but which % you save.

im currently sitting about 50 - 60%ish...

I agree. The % of your disposable income you save/invest is the key.

We target 60-70%, but sometimes life just gets in the way!:rolleyes:

Lokolo

Jonbvn wrote: »

I agree. The % of your disposable income you save/invest is the key.

We target 60-70%, but sometimes life just gets in the way!:rolleyes:

It does also depends on how much you earn. My take home is just over £1k a month. I can only just about manager 50% of that.

If I was taking home £2k... I'd be able to save 75%!

cashbackproblems

My basic takehome at the moment is approx 1.2k and i manage to save about 850 of that however thats only as im living at home rent free and will be for next 12 months before renting down south. Also have a expensive holiday coming up so will have to surrender around 1/2k, but like above am saving up for a apartment/car as i only recent started working.

Dinah93

Tricky question. We save a minimum of £1596 up to £1800, however around £550 of this is savings towards new car/car maintenance, christmas pressies and holidays, so since it will be spent eventually, does it count?! Taking the minimum amount we save, this equates to 62% of our take home pay.

natman

Hi yeah, I agree, the % of what you can save is the key, and obviously your circumstances.
If you live at home rent free etc, you should be trying to cane the saving up, for the future whether thats house holidays or what ever really.

I earn around £1300 a month, my partner also earns around £1300 a month. which would be great if we lived rent free, but we dont,

We have outgoings for -
Mortgage -£680
utilities - 120
c tax - £140
food shopping - £130
petrol £180
insurances for car / house
2 cars to maintain
theres more like SKY, Broadband, actually socialising,
Yeah basically between us we have outgoing of around - £1650

we both also pay into pensions - £100 each a month

so we earn between us - £2600 - £1600 outgoings, leaves us around £900.
we generally save around £800 a month, so notto bad at all. so yeah we save 35% of what we earn, but more importantly, we save around 90% of our disposable income - or the money we are in control of.