MoneySaving Poll: How much are you worth (or do you owe)?

Former_MSE_Sam_M Former MSE Posts: 346 Forumite
edited 8 August 2016 at 8:18PM in MoneySaving polls
Poll started 26 July 2016

How much are you worth (or do you owe)?

To answer this question, you first need to do a little sum:

1. Add up: the total value of your assets such as your house, savings & pension.

2. Subtract: outstanding debts - include your mortgage, exclude student loans.

Then whether you've "net worth" or "net debt", vote for your relevant option.

Did you vote? Are you surprised at the results so far? Have your say below. To see the results from last time, click here.

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Thanks! :)



  • One-Eye
    One-Eye Forumite Posts: 65,030
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The results seem rather high to me...

    ... and I realised it is probably because you give no guidance on joint wealth/debts.

    For a married/co-habiting couple with a £400,000 house, no other savings, no mortgage or debts then surely "I'm worth: between £100,000 & £249,999" is correct as it does not say "We're worth: between £250,000 & £499,999"
  • Ectophile
    Ectophile Forumite Posts: 7,110
    Part of the Furniture 1,000 Posts Name Dropper
    I'm not surprised that so many older people are in the over £250K bracket. If you have a house with the mortgage paid off, or mostly paid off, and you have a pension fund, then you could easily hit that figure even without any other savings.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
  • Teacher2
    Teacher2 Forumite Posts: 546
    Tenth Anniversary Combo Breaker Mortgage-free Glee!
    This rather gives the lie to the fact that young people have nothing and that the old have stolen their trousers!

    I expect that the relative prosperity of all age groups is something to do with the Moneyfacts audience being the somewhat self selecting prudent and moneywise section of society.
  • md26
    md26 Forumite Posts: 7 Forumite
    I seriously can't believe that poll, especially the under 25's. It makes the weekly email seem a bit irrelevant to most of it's readers.
  • happyinflorida
    happyinflorida Forumite Posts: 807
    Part of the Furniture 500 Posts Combo Breaker
    I think there are quite a few porky voters on this poll
  • kriss1977
    kriss1977 Forumite Posts: 232
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I'm amazed by the under 25's results although if they've been active followers of MSE since their teens, working and frugal it isn't impossible I suppose.

    This poll would be far more interesting and revealing split into male/female, home owners/non home owners, single etc. and maybe even working/student/not working as these polls usually are.

    I was quite proud of the fact I'm in the 35-49 years bracket, not a home owner, not working (and not on benefits), single and in the £100k+ bracket. I've achieved what my friends and family (homeowners or otherwise) say they can not but it has taken dedication and time investment to get to this point over the last 6 years.

    Now I feel somewhat deflated; that I should have achieved more with so many my age in the bracket above, and that my dream of buying a property with minimal or no mortgage is further off than I anticipate.
  • AJM968
    AJM968 Forumite Posts: 1 Newbie
    Hmmm...more of a liability really. It ties up vast sums of money and prevents it from being used whilst maintenance drains the remaining capital.
  • londonlydia
    londonlydia Forumite Posts: 428
    Eighth Anniversary 100 Posts Combo Breaker
    I think this whole poll is probably skewed by the single fact that many people are paying mortgages and believing that the value of the house at the present time is theirs, and then have simply subtracted the price of mortgage loan they took out. In fact, you need to consider the total cost of the mortgage over the lifetime, or at least a comparable period.

    Cars are similar: very rarely will you make money out of cars, and I think there is a misconception again that the price you pay for your car will be how much your car is worth now.

    Possibly a better poll would be to ask, after in/outgoings, and ignoring assets you couldn't easily unlock on a rainy day (i.e. your home), how much are you cash positive/negative?
  • G6JPG
    G6JPG Forumite Posts: 147
    Part of the Furniture Combo Breaker
    Can we please, after the sections broken down by age, have an overall result set?
  • XRAT
    XRAT Forumite Posts: 239
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    As most people will be in a relationship, and wondering.., should we be dividing that total by 2 ????
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