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How much do you save each month?

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  • Interesting thread and also interesting that people count different things within the overall category of saving.

    It made me realise I save more than I think if counting pension contributions, mortgage capital repayment, property capital growth, etc. which i wouldn't have directly considered to be saving but I suppose it all adds to net wealth.

    I also wonder how much of people's savings are earmarked for things, i.e. Annual things like holidays, xmas, big house items, etc and how much is unallocated? I'd never really thought of allocated savings to be savings as such as they're more of a deferred payment.

    I have lots of online savings accounts for different areas of spend and this represents around two thirds of my net minthly income, but half of this is probably medium term spend and so I probably fall into the third-third-third category mentioned earlier (without necessarily realising I did!).
  • JamesN
    JamesN Posts: 787 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Thanks for all the responses. Very useful!

    Need to squeeze a bit more out into savings I think but reassuring to know I'm starting at a good level.
  • Ken68
    Ken68 Posts: 6,825 Forumite
    Part of the Furniture 1,000 Posts Energy Saving Champion Home Insurance Hacker!
    Thank YOU James, good thread. Feather,cap and all that.
  • Dandytf
    Dandytf Posts: 5,073 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Trying to start saving just t/ferred 60 into instant access via iPhone app.
    60p/m is not a bad start, not sure if i'll increase amount though tempted to save maybe 90 or 100 p/month.
    Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb
  • jennifernil
    jennifernil Posts: 5,710 Forumite
    Part of the Furniture 1,000 Posts
    As much as possible......if we don't spend it we save it!

    We save all the excess, then spend some of it next year on holidays or give it to the children/grandchildren.

    Out of £35k per annum, we only really NEED £20k,as mortgage is paid off, so we save/give away/use the excess on holidays etc.
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