How much should I have saved by 25 and when I am 28

Gordias

"Hear hear" on the enjoy your life quote... no point having savings if you make your life miserable and boring acquiring them.

The biggest piece of advice is stay in the black, once you borrow you are on a slippery slope. As for how much - work hard to get 3-months worth of salary tucked away first then relax a bit and put aside what you don't need. Good luck.

mr_fishbulb

Why do people seem to think that if you are not spending money, then you are not enjoying your life?

dunstonh

There are no guides to how much you should have and by when with savings. The only guide I know is one on pensions in that you should aim to have £35k in your pension by age 35. However, like others said, even that is subjective depending on what you want in retirement and when you want it.

Lokolo

mr_fishbulb wrote: »

Why do people seem to think that if you are not spending money, then you are not enjoying your life?

Exactly. I love my life and I'm saving like a madman!

bendix

Lokolo wrote: »

Exactly. I love my life and I'm saving like a madman!

Well said. I too save like a demon but still enjoy my life immensely.

There is a notion prevailing in modern society that conspicuous consumption equates to happiness. How tragic is that?

cheerfulcat

mitchaa wrote: »

You are having a laugh.

I do not know of 1 person aged over 30 living at home with parents, in fact I do not know any 25yr olds living at home either.

I think it is plain weird to still be living with parents at 25 if I am being honest. At 25 you should be supporting yourself, living with a girlfriend/boyfriend and thinking about starting a family.

In my opinion anyway.

33 as an average living with parents:rotfl:That surely means if someone like me who moved out at 17, must have a 49yr old counterpart living at home to average that 33 figure. Yeah right:rotfl:

From the Guardian -

" The growing reluctance of Britain's twenty- and thirtysomethings to fly the parental nest was revealed today by the Office for National Statistics (ONS) in its annual report on the latest social trends.It said almost a third of men and a fifth of women aged between 20 and 34 live at home with their parents. "


So not that unusual?


ftb - You are in a very fortunate position. I would say, save as much as you possibly can, while you can!

The_MoneySavingKid

mitchaa wrote: »

You are having a laugh.

I do not know of 1 person aged over 30 living at home with parents, in fact I do not know any 25yr olds living at home either.

I think it is plain weird to still be living with parents at 25 if I am being honest. At 25 you should be supporting yourself, living with a girlfriend/boyfriend and thinking about starting a family.

In my opinion anyway.

33 as an average living with parents:rotfl:That surely means if someone like me who moved out at 17, must have a 49yr old counterpart living at home to average that 33 figure. Yeah right:rotfl:

No, I am wrong. Apologies. I think that was actually the average age for a Facebook user.

http://www.guardian.co.uk/society/2009/dec/08/young-adults-living-parental-home-ons
But there is a general increase in trend of staying at home though.

And the opinion of social norms is irrelevant. This is a discussion for saving and investing.:D Not social norms.

westv

mitchaa wrote: »

You are having a laugh.

At 25 you should be supporting yourself, living with a girlfriend/boyfriend and thinking about starting a family.

So are those that are 25 but living on their own weird as well? :D

nzseries1

My uncles on my Dad's side are 55 and 40 and both still live at home.
But then I suspect my Dad's side of the family grew up by a nuclear power plant and my Dad has never told me

I moved out of home when I was 19 when my family moved to a small village and I got bored there very fast.

I'd saved just over £1,500 when I was 25 (but then I paid for myself to go to Uni when I was 21). By the time I was 28, I was lucky enough to have gotten into a good, well-paid job and I had saved about £30k. But then everyone has very, very different circumstances.

mitchaa

cheerfulcat wrote: »

From the Guardian -

" The growing reluctance of Britain's twenty- and thirtysomethings to fly the parental nest was revealed today by the Office for National Statistics (ONS) in its annual report on the latest social trends.It said almost a third of men and a fifth of women aged between 20 and 34 live at home with their parents. "


So not that unusual?


ftb - You are in a very fortunate position. I would say, save as much as you possibly can, while you can!

So 66% of men leave home before they are 20 and a massive 80% of women.

Kind of what I was saying.

It's an interesting subject, I posted a poll in the discussions area regarding it and likewise with the poll, around 75% of those that have voted moved out before 25. Infact the majority age group appears to be 16-18 with just shy of a 50% vote...

http://forums.moneysavingexpert.com/showthread.html?t=2286273