The Student Room Group
Uni students - Complete our survey >>
Uni students - Complete our survey >>
Uni students - Complete our survey >>

How much savings do you have

Scroll to see replies

Reply 20
Avatar for NX172
NX172
17
I'm 24.No savings right now, a combination of moving to London, putting down a deposit, paying for car insurance and tax return all at once right after christmas and a luxury New York trip has put me deep into my overdrafts. I have roughly £270,000 in equity in property. In 5 years aiming to have around £800,000 minimum in equity by expanding the property portfolio, assuming the whole thing with reduced BTL mortgage interest relief coming the next few years doesn't completely mess me up. (Not planning to quit BTL but will change strategy which I'm sure will be quite safe)
Original post by ineedtorevise127
How old are you, how much savings do you have and how much do you expect to save in 5 years time


Right now i have no savings as a recent graduate. In 5 years time i'd hope to have tens of thousands in savings.
Original post by ineedtorevise127
How old are you, how much savings do you have and how much do you expect to save in 5 years time


24 and I haven't saved anything. I want to start saving but there is so much to pay for. In 5 years, I would like to have more than enough for me to buy a house.
Original post by SophieSmall
20 years old and 1.5k in savings, will have 2k by August and 3k by next August if I stick to my savings plan. I could definitely save more if I got a job but I'd rather focus on uni right now.

In 5 years time? Hmm it depends really. I was initially planning on moving home after uni for just 1 year to save until I hit around 10k (assuming I manage to land a job that quickly). However now I'm starting to reconsider, I may stay at home longer and save the majority of my income for 3-5 years unless I get into a serious relationship in which case I'd plan to move in with them and split costs of renting and bills which would be cheaper than going it alone...as living with your parent to me is just a complete mood killer and awkward if you're in a relationship.


It'd be more cost effective to use your savings for a mortgage surely, rather than spending it on rent which is basically paying someone elses mortgage?
Original post by ineedtorevise127
How old are you, how much savings do you have and how much do you expect to save in 5 years time


Im 24, i have just over £30,000 in savings.
I hope to have a lot more in 5 years time.
Original post by Emma:-)
Im 24, i have just over £30,000 in savings.
I hope to have a lot more in 5 years time.


Wow nice how did you save so much
Original post by Zero_Hero
24 and I haven't saved anything. I want to start saving but there is so much to pay for. In 5 years, I would like to have more than enough for me to buy a house.


True, are you in full time work atm?
Original post by ineedtorevise127
Wow nice how did you save so much


Im a bit of a tight wad when it comes to money.
Im also a fan of he show- extreme couponing, ive never tried it myself yet though.
Original post by bethwalker85
It'd be more cost effective to use your savings for a mortgage surely, rather than spending it on rent which is basically paying someone elses mortgage?


More cost effective but not good for my mental health. Besides rent here is dirt cheap, especially if sharing.
(edited 8 years ago)
I'm 20 and I have around £20k in cash plus a few grand more in some accounts I can't touch for a few years :frown:

In 5 years time I probably won't have as much as I'm gonna buy an f type/some other sports car and maybe a second house to rent out if i can afford it :ahee:
(edited 8 years ago)
25

250k+
Original post by SophieSmall
20 years old and 1.5k in savings, will have 2k by August and 3k by next August if I stick to my savings plan. I could definitely save more if I got a job but I'd rather focus on uni right now.

In 5 years time? Hmm it depends really. I was initially planning on moving home after uni for just 1 year to save until I hit around 10k (assuming I manage to land a job that quickly). However now I'm starting to reconsider, I may stay at home longer and save the majority of my income for 3-5 years unless I get into a serious relationship in which case I'd plan to move in with them and split costs of renting and bills which would be cheaper than going it alone...as living with your parent to me is just a complete mood killer and awkward if you're in a relationship.


There's more stigma to it if you're a man than a woman.

if your parents let you bonk in the house, then it shouldnt be a problem :lol:
19 and £1500 savings. In 5 years time I would hope to have maybe £5-10,000 worth of savings. I have no idea how though. I'll still be in uni most likely.
(edited 8 years ago)
Original post by Bill_Gates
25

250k+


how do you have so much at your age?

Original post by JayReg
21125k if things continue to go to plan, some of which in equity.
how do you have so much, and how are you on the property ladder at your age?
Reply 34
Avatar for JayReg
JayReg
14
Original post by Death Grips
how do you have so much at your age?

how do you have so much, and how are you on the property ladder at your age?


So I worked a lot when I was younger + internships etc. and I'm quite the save as well. Tbf I was quite lucky with some investments but that has not had a huge impact. I've also been very lucky in the jobs market with a very generous graduate salary which has allowed me to save quite a bit.

I don't yet have a property but I have an agreement in principal so part way there.

Hoping to rent out two rooms and apparently my salary should also rise quite quickly so that's where the high savings figure comes from.
Original post by Death Grips
There's more stigma to it if you're a man than a woman.

if your parents let you bonk in the house, then it shouldnt be a problem :lol:


It's not about being allowed for me. I just think it's awkward. I value my privacy, space and independence. And having to live at home makes me feel like a child.
(edited 8 years ago)
Original post by ineedtorevise127
How old are you, how much savings do you have and how much do you expect to save in 5 years time


I'm 18, first year undergrad currently have 27k. Hoping to grow to around 30k in the next few years depending on how much spare time I have to grow my business
3k, 25. Started saving a grand a month since october to save for a house. I'll probs continue to do this for the next five years even after i've moved into my first property to expand my property portfolio
18.

Started saving up this year. I only have 600 ron (£118.56) saved up and that sum will probably go to zero soon.

Then again, I have never worked, so I cannot complain.

In five years, I expect to have had a job, so I would expect to have at least a few thousand pounds saved up.
Idk how much exactly but I can't access it until i'm 18.

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you