To be fair, most of my 'savings' come from the fact the interest rates have dropped a chunk and the mortgage has reduced a substaintial amount. We just decided to keep the same amount going out rather than waste it.
Should interest rates go up to 6 or 7% we will be in a very different position.
Sprocker +1
Before kids - about £250 per month...now I just struggle to get all the bills paid. Nursery fees and then with the second sprog due soon, going down to a single income means savings are but a distant dream.
This all ties into the recent 'Child benefit' thread and subsequent 'Does a £44k salary make you rich? tangent...I'd say not with a family to raise in the South East, no.
Care homes cost in the region of £1000 a WEEK!(slightly less if you live in Scotchlandia..
If you have no savings, the council pays your place for you.
So, spend, spend, spend I say!!
A bit cold here, so I'm away off back under my bridge! 
£3.62
Nil, but it depends on what you mean by savings. I have debt at the start of the month, less debt at the end of the month, and in 10 years I'll have no debt and fully own the four houses I have mortgages on, plus have a good pension scheme.
I earn a decent amount, but every time I think I could blow a silly amount on something I simply buy another property and make myself poor again.
Try and live off one wage, and save the other.
I've yet to save a penny in 34 years. That's a lie actually, this thread just prompted me to open a savings acount there, savings balance currently stands at £1.39!
Used to overpay mortgage with surplus funds, but now letting what I don't spend stay in current account with a view to needing it when we move house.
Gave up on savings accounts a few years ago when they stopped paying interest.
Savings? I'd like enough money to be able to have the heating on.
I've wondered about asking this before, but from a % of take home figure rather than an amount. What is a good % to aim for?
Currently it's 20-25% of the household income, which is one above average wage and SMP for my wife. She goes back to work part time next moth, so the income won't go up much. MIL is here for 6 months to look after the baby, at about 10% of nursery costs but I hope to give her a bit more if we can afford it. We don't buy much tat, don't run a car and there's currently 3 adults and a baby in a 2 bed flat. Life is about compromises...
I am able to save about 50% of net monthly income. I rarely do 
Amazed how much people are able to save! 100 quid into a personal pension and about 50 quid into savings account. Normally have a few quid in he bank left. Don't earn a bad wage either, must just frit it away I guess
I don't save any, my outlook is fook it, and yes I have kids blah blah blah
$3000 a month presently going towards savings, split between the Canadian equivalent of an ISA, shares, and a general (rather pants) savings account. Rent is $400, utilities around $60 (atleast my share is), food I somehow manage to keep below $200. Car is a classic that I'm restoring to sell on at profit...while teaching myself welding/general metalwork. Learning to brew my own beer. Alot of my Canuck mates are gobsmacked when they ask how little I am 'getting by on' I just live like a Brit...and pocket the difference, they live like they all work for Goldman Sachs...and complain they have no $$. Crazy.
I cycle to work, and am presently being paid tax free thanks to the wonders that are tax credits to the tune of what my international tuition was in Canada for the past couple of years. Opted out the university pension scheme as I'm only on a five year contract and frankly not really sure they'll exist in 40 years when I retire! Would rather save it myself and put it where I understand it, even if I have to work a bit harder for it. Or better yet, build a small cottage by some sweet trails.
Not bad considering how indebted the rest of the Canadian population is...it's like the UK in 2007...only worse :/
mrgibbons - sounds like you're on the ball but I'm just curious - what does
I just live like a Brit
mean to you Canadians?
as in...I am British...but I live like I'm still on our beloved near-bankrupt rock...only I'm in Canada. i.e. Frugal/sensible/not wanting an audi/mcmansion..presently learning to ice skate...on my driveway 
in some skates the neighbour just gave me, because they buy new ones 'every year' :!
Gotcha. So we're more frugal than Canadians - go figure!
go figure!
No, you do the math!
No, you do the math!
Once my jaw gets off the floor! I'm proper envious and all - I was just curious about the Brit comparison. I thought it was ironic tbh.
At the minute nothing but when my road bike is paid off probably £100-200 a month.
just this month we are now in a position to save £250/£300 each a month, trying to get a few grand together as quick as possible.
Currently saving about £1000 a month but I'm living with my parents in the sticks and trying to buy a house. I put £500 into saving at the start of the month then what ever is left at the end of the month. I'm finding not having a social life (or paying rent) saves me a lot of cash!
£3-500 overpayment on mortgage,£270 on sharesave and anything thats left in current account goes into savings account.
at this rate mortgage free by 2018. Cant wait!
We did the "budget buster" thing on the MSE website.
Essentially, I ignored all the 'fun' things, recording only the essentials (food, fuel, nursery, rent, mortgage etc).
It's actually surprising to see how much should be left over each month, but rarely is!
It prompted me to streamline all our finances, close our various current accounts and open 6 new accounts (all within the same bank for ease of viewing/transfer of cash).
Hopefully, with our finances being more visible in the same spot, we'll be more sensible with the spending and able to start saving again (it all went t's-up after buying a house and having a baby - completely lost the focus!)
DrP
Mine goes like this.
10% gets put aside.
20% goes towards paying off debts, or gets put aside if I don't have any.
70% goes on living life.
Anything that's put aside can only be used/spent as a form of investment.
So far so good.
no brainer... dont save.. over pay the mortgage..
Since stopping smoking 2 months ago I should be saving about 200 per month. That's the theory anyway!
no brainer... dont save.. over pay the mortgage..
Not always the best case for everyone though...
In some situations, cash is king.
DrP
As above, overpay the mortgage. Most Savings are reducing in value in real terms at the moment so best to get rid of debt. Or buy get the next batch of govt index linked savings 
The 1,600 a month on nursery prevents any savings 
The 1,600 a month on nursery prevents any savings
How many kids do you have exactly?!?!?
Yes, but when it's tied up in the mortgage, you can't use it to buy other things (easily).
I agree though'; generally you're better overpaying a 2.5% debt, than getting f-all% on the same amount saved...
DrP
I only overpay my mortgage slightly (when interest went down payment stayed same) but my cash is in an offset mortgage i.e. I can save cash that goes against mortgage but does not tie it up. Saving £400 a month in Company share schemes.
The 1,600 a month on nursery prevents any savingsHow many kids do you have exactly?!?!?
If I put our daughter into nursery 5 days a week, rather than just the 2 days she has currently, then the fees would be £1451 a month...
i've not put any money away for tha last four years due to bumming about and finding my feet in a new country.
i used to be pocketing a fair amount of money each month as a chippy yet didn't spend much of it as i was living in my parents garden (like a poddinton pea) almost rent free, didn't go out boozing and filled my spare time with kites and bikes (cheap hobbies after initial outlay). i think i saved over 15k in one year. i've got a decent amount in an ISA and spread over several funds. i can no longer add to the ISA after next year as i have been out of the country now for four years (five year limit for non-residents).
the money is coming in now, albeit in drips and drabs, plus the Gf has a proper salaried job. i currently need 550€ to cover my monthly costs (rent, bills, essential food shopping and health insurance), but i earn that in 2-3 days. anything over that 500€ is rainy day/spunk money.
thinking of saving to put down a deposit on a house/plot in the hills down south.
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