Forum Home» How much have you saved?

Average amount of savings for a 30 year old... - Page 5

New Post Advanced Search

Average amount of savings for a 30 year old...

edited 30 November -1 at 1:00AM in How much have you saved?
119 replies 311.9K views
1235712

Replies

  • Batman2017Batman2017 Forumite
    134 posts
    I'm 29 and my wife is 27. Before we met I used to live in my overdraft and live paycheck to paycheck. We've been together ten years this year and since then I think we've been sensible with money striking a nice balance between saving to much and not living against not saving enough.

    We've had a few big expenses in the last few years such as paying for our wedding, buying a house, doing a capital repayment and few big trips away including VIVA LAS VEGAS :beer:. We dont come from wealthy families so have never had much help along the way but it makes the feeling of accomplishment feel more deserved.

    We have 9K at the moment and are saving on average between £600-800 per month. I agree with other posters about trying to stick clear of any payday loans or anything where your paying interest for credit. Avoid like the plague if you can and you will be much the better for it.
  • polagonpolagon Forumite
    10 posts
    My summary of my savings situations is I should do a lot better.
    Currently I have a work pension (just been saving into it for 1 year), doing some smaller savings through P2P lending, and an ISA fund, but and a rather big but is that I have no emergency fund to speak of.

    I haven't been in a work situation for that long, and in between work I basically lost any savings I had so now I'm playing catchup combined with some weird ignorance to this emergency fund, which is of course a bit stupid.

    But 30 years old, earning about 33k with bonuses, but living in London so can't save that much really as I pay lots in rent and other costs.
    But have about £2000 in pensions and £1600 in other savings + ISA. My plan is to try to build up an emergency fund between £500-£1000 by the end of the year.

    Also re-paying a student loan at the moment, so not sure how any of this will play out. Hopefully next year I will receive a larger pay bump which will increase my emergency fund payments (risky thinking).
  • hupikhupik Forumite
    27 posts
    I'm 35 and have about £13k in savings, don't own a house (yet) & lost money on stockmarket last year.

    In my situation I ran my own business in my early 20s and was sequested (declared bankrupt) at the age of 25 this meant I had to start from scratch & at 30 I completely changed career (I was a bar manager). I now earn £29k a year and save £1k a month which is hard with rent being so high but getting on the property ladder is important.

    The problem with asking a question like yours on here is that I find money saving expert followers to be a bit more savy than your average person.
  • [Deleted User][Deleted User]
    0 posts
    Holiday Haggler
    MoneySaving Newbie
    It's all a bit of a silly question; everyone's lifestyle and circumstances are different. I had more savings when I was 26 then now I'm 36. Then again, at 26 I had no assets and now I own almost 50% of my family home.

    Don't get hung up on what others have; it's your personal story that should bother you. Set some goals for the future, plan how you want to achieve them, make big decisions if you have to.

    Don't aim to be average either..
  • polagonpolagon Forumite
    10 posts
    hupik wrote: »
    I'm 35 and have about £13k in savings, don't own a house (yet) & lost money on stockmarket last year.

    In my situation I ran my own business in my early 20s and was sequested (declared bankrupt) at the age of 25 this meant I had to start from scratch & at 30 I completely changed career (I was a bar manager). I now earn £29k a year and save £1k a month which is hard with rent being so high but getting on the property ladder is important.

    The problem with asking a question like yours on here is that I find money saving expert followers to be a bit more savy than your average person.

    Do you save £1k a month on a £29k a year salary?
  • tripledtripled Forumite
    2.6K posts
    Part of the Furniture 1,000 Posts Combo Breaker Wedding Day Wonder
    ✭✭✭✭
    I'm 33 and my wife is 27. Between us we have around 14k to 15k in savings, with no debts apart from student loans. We're not homeowners but hoping to get something around 2017/18.
  • hupikhupik Forumite
    27 posts
    polagon wrote: »
    Do you save £1k a month on a £29k a year salary?

    I do indeed but I have zero luxury expenses and do a house share
    Rent £400
    Rates £55
    Utilities £30
    Mobile £15
    Broadband £10
    Food £150 (£35 a week or £5 a day)
    Savings £1000
    Left over £77 which I can use for extra food or go out etc.

    I'm not intending on doing this for very long as I'm sure you can imagine but done a year so far
  • edited 15 April 2016 at 2:03PM
    [Deleted User][Deleted User]
    0 posts
    Holiday Haggler
    MoneySaving Newbie
    edited 15 April 2016 at 2:03PM
    Heh, wait until you guys have kids. I've spent £1200 in nursery fees already this year, and that's not even that high. Only £800 to go and the little one can be fully state funded from next year. I can finally start to save some money after that. Saving will become completely alien once kids arrive.
  • polagonpolagon Forumite
    10 posts
    Well that's beyond impressive, good work!

    It sort of puts my own savings in perspective though.... Earning slightly more but with almost £300 more in rent I'm not saving anything close to that. But I should definitively be able to improve my own savings a bit, which I hope to do.
  • When I was 30 I had just finished paying off my debts from uni days and living in a £3k overdraft on a pretty average £18k, and went sometimes a month or two without pay. Things were pretty bleak, then company turned itself around. 5 years on I've only got about £5k in personal savings but we've just bought our forever home, and making up for lost time paying £2k a month in to a pension, and £1k into an ISA and ptp lending and £500 into regular savers.
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support