lalman wrote: »
We are all individuals that want to change our lives or develop in one way or another.
anotheruser wrote: »
It also depends entirely on your situation:
Parents helping out with this and that (buying a car).
...not to mention good/bad luck with work.
jonmknight wrote: »
30 years old, wife of 27 and 2 children (4y/o and 1y/o).
Personal (Long term savings):
£1k Funds / Investing
Only really started getting focused with personal finance just over a year ago, so relatively speaking I feel as though we've achieved an awful lot in that time, especially as a single income family.
I would echo the comments mentioned above though - I think, due to the mind-set of people posting in this particular sub forum , the figures mentioned in this thread are likely to be above UK average.
We've been working on the following principle:
75% of monthly income goes to: Monthly Living expenses (mortgage, food, utilities, travel, lifestyle etc etc)
10% to Emergency fund
5% to short term savings
5% to medium term savings
5% to my long term savings
edit: Starting from 2016 (and the wife hopefully back to part time work) we're intent on over-paying mortgage with her income
Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support