MoneySavingExpert Chair, Martin Lewis · Editor, Marcus Herbert

# MSE Forum

16 replies 4.6K views
Former MSE
975 Posts
Poll ran 4 Dec - 12 Dec 2007: How do your savings compare to your earnings?

A month ago I ran a poll to see how much debt people had compared to their annual income; the results (view them) were fascinating, so I thought this time I’d run a poll find out how much those who save have.

How to work it out?

Step 1: Add up all your savings. Then if you have any debts (excluding a mortgage) subtract that (though also read the should I pay off my debts with savings article).

Step 2: Divide the total by your annual income. E.g. If you’ve saved £5,000 and earn £20,000 your savings are a quarter of your earnings.

A. I’m in debt. 24% (829 votes)
B. I’m not in debt, but don’t have any savings. 8% (266 votes)
C. My savings are less than a tenth (10%) of my annual income. 12% (407 votes)
D. My savings are less than a quarter (25%) of my annual income. 12% (433 votes)
E. My savings are less than a half (50%) of my annual income. 9% (310 votes)
F. My savings are less than my annual income. 9% (334 votes)
G. My savings are more than my annual income. 9% (330 votes)
H. My savings are more than double my annual income. 5% (183 votes)
I. My savings are more than three times my annual income. 4% (136 votes)
J. My savings are more than five times my annual income. 4% (139 votes)
K. My savings are more than ten times my annual income. 5% (161 votes)

This vote has now ended but you can still click reply to discuss below. Thanks to everybody that voted
«1

## Replies

• Forumite
7.5K Posts
Forumite
Um - do (personal) pension funds count? Since mine are a multiple of my current income, then it'd change the answer I'd give.
Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries
• Forumite
4.4K Posts
I thought I was doing quite well with mine, but I'm only about option D.

We've got about 16% of our joint incomes in a savings account. We do have a big mortgage though.
Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
• Forumite
10 Posts
I'm in E band, which is also my council tax band...lol
• Forumite
1.7K Posts
It's between 50 and 100% for me, regardless of whether we're talking before or after tax. However, I don't own a house, which is a significant question depending how you define "savings"!
Hurrah, now I have more thankings than postings, cheers everyone!
• Forumite
559 Posts
I don't have any savings.
• Forumite
183 Posts
Surely this must depend a lot on how old a person is. I think I can remember
correctly that the average age on here is 39 and as my husband and I are in our middle fifties we have had a chance to build up our savings.
• Forumite
70.7K Posts
My savings are about 20x my income....

But that is because I sold my house and banked the money

And right now only have a small income from online earnings and a spot of temping

So skewed data.

It is because of such skewed data that many statistics models exclude the top 10% and bottom 10% of results.
• Forumite
234 Posts
To iron out the 'what ifs', I think that you are going to have to bounce these questions around the office a bit before posting them in future Martin.

I have gone for answering using liqiud assets only. Pensions and house (mortgage free, hurrah!!! Thanks for all the tips folks!) therefore not included.., but AVCs are in!

Strictly speaking of course most of 'my' assets are in the name of 'she who pays no tax'. So I've set my earnings against 'her' savings!
• Forumite
1.7K Posts
albertross wrote: »
How do your savings compare to your debt might be an interesting one. Lots of people in debt appear to borrow to "save" at the same time

I was thinking of doing this next year as I may not get up to the full ISA allowance because of some one-off costs. It strikes me that I want to use it up every year, even if I have to borrow in the short term to achieve that, as I can't ever use the current year's allowance again otherwise...

Am I missing anything there?
Hurrah, now I have more thankings than postings, cheers everyone!
• Forumite
42.7K Posts
in liquid terms, about a quarter savings.
if you count the house with no mortgage then its approx 10 times.
Get some gorm.
This discussion has been closed.
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