Average Savings?

Lokolo

Age 22.

Total of approx £18k in savings.

Reemo12

Wow lokolo, thats great, did you inherit that?

Svenena

http://www.consumersavingsmonitor.co.uk/home.htm

lisyloo

Thanks for your reply Lisyloo, looks like your sorted.

Well I've got a kinda "giant stooze" going on as I have a very low mortgage rate, so I think you need to bear that in mind.
What I mean by that is that if you had £100K at 3% in savings and £100K in a mortgage at 1% then you'd make £2000 proft per year for doing nothing.
It's not really proper savings though is it? so it depends on your definition.

It's an interesting lesson in how to phrase your question to get a difference answer.
Because if you asked "how much money do you have?" it's not the same as "how much cash do you have in the bank?"

I'm 42 BTW.

tom-i

21 years old - £6000 Savings

Reemo12

Just looking at the link Svenena posted and it states that "The ordinary man or woman in the UK currently has £1,843 in readily accessible cash savings in banks and building societies ", that doesnt seem like much?

noh

Reemo12 wrote: »

Just looking at the link Svenena posted and it states that "The ordinary man or woman in the UK currently has £1,843 in readily accessible cash savings in banks and building societies ", that doesnt seem like much?

And if you read it further it says that 26% of Britons have no savings whatsoever which is even less!

Reemo12

thats 1 out 4 peeps, that crazy!,

misspiggy_2

It could also be the case that not everyone uses banks or building societies to save. Britons have many savings vehicles open to us i.e shares, bonds, unit trusts etc.. I don't count the amount I have saved in my kids accounts or in my kids savings schemes, as that is not technically my money. But should the need ever arise (hopefully not until they get to uni), its definitely accessible to me (all of primary school age)

bendix

Lokolo wrote: »

Age 22.

Total of approx £18k in savings.

Can you lend me a tenner until payday, Loks?