We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Savings for 30 year old.
Ta123456
Posts: 3 Newbie
How much does or should a 30 year old have in savings?
Just wondering?
Just wondering?
0
Comments
-
As much as they need to suit their purpose.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
There is no right answer as everyone's situation is different - it all comes down to whether or not one wants to save or spend it in whichever way makes them happy now.
Personally I put aside about a quarter of my paycheck every month towards " savings", and this is for me to do with as I want - do I spend it on a holiday? do I put it towards a house deposit? I haven't really decided so until I do it's just sitting them accumulating :beer:0 -
You've lost 2 years since September last yearDefault How much savings should you have at 32 years old?
I currently have none need advice?
https://forums.moneysavingexpert.com/discussion/comment/74844951#Comment_748449510 -
How much does or should a 30 year old have in savings?
Just wondering?
As mentioned it will depend on invididual circumstances incl wage and whether you've acquired a house which will mean a reduction in savings as the house deposit is used.
I would say as a minimum any 30 yr old should be signed up to a pension, ideally via an employer contributing as well and saving 10%. Appreciate for some a drop in take home pay is impossible but you should challenge yourself as to whether it applies to you.
I think an aim of filling a LISA allowance of £4k each year would be good if trying to acquire property.
An emergency fund of 3 months wages should also be held but you'll find on this board many who don't given debt, personal circumstances etc.0 -
As OP seems to have perfected the art of time travel, going back and picking the correct numbers for the last big EuroMillions jackpot should be quite a lucrative source of savings....
You've lost 2 years since September last year
https://forums.moneysavingexpert.com/discussion/comment/74844951#Comment_748449510 -
At least 3 months salary, 6 months ideally, in case of job loss
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards