MSE Poll: How much money do you have in savings?

MSE_Ben_T

Though it's been a difficult time for many to build up savings, over the past 12 months we've seen some of the highest savings rates for over a decade. On Thursday, the Bank of England lowered the base rate to 5%, and we've already noticed some top savings rates beginning to fall. This week, we want to know how much you have saved, and in what type of account you have the majority of your savings. 

Let us know.

Did you vote? Are you surprised at the results so far? Have your say below.

If you haven't already, join the forum to reply.

Misslayed

There may be a significant number of folk who keep their savings in Premium Bonds, but it's not an option in this poll.

hugheskevi

There are some useful clarifications that could be made:

• Single/couple/household - some couples have separate finances, others don't. Personally I view the assets held by myself and my wife as completely combined, and the name on individual accounts is just for administrative and tax purposes. Reporting each person separately could see big changes year-on-year just depending on what is optimal at that time.
• Premium Bonds - this is a big omission, especially for higher and additional rate taxpayers, that may be a sizeable amount.
• It may be better to ask for all 'cash-like' assets and have an 'other' category. For example, I account for salary (net) earned but not yet paid as one of my cash resources. I do the same with cashback that is recorded but not yet paid. I also purchase discounted gift cards for grocery shopping through a workplace scheme, which I record the balance of as a cash-like asset. I will also be due compensation relating the 2015 Remedy in public service pension schemes and voluntary benefits purchased - that is cash that is accruing interest but doesn't fit into any category.
• Stoozing - a decent proportion of may cash assets derive from stoozing, but they aren't really savings given most will eventually return to the lender, so there would be a good argument to try to get to cash-like assets net of debts
  

FirstCoffee

Agree that Premium Bonds should have been an answer as it's so popular for emergency funds/savings. I had to give a false answer to that question. 

Rottingllama

I’ve tried to view the full results of the poll I voted in but my age bracket is not there. I can only see results for age 25-34 and I’m older