Year 12s: what will be the first way you research your future options? >>

How much do you save?

I know everyone's situation is different, but I'm curious to see what percentage of your income would you say you save? Mine is about 50-70% depending on what I need/want.

Reply 1

gjd800

I don't make enough to save any of it.

Reply 2

Xopher_

Original post by gjd800

I don't make enough to save any of it.

sad

Reply 3

gjd800

Original post by Xopher_

sad

Yeh, not ideal. Temporary issue, I hope.

Reply 4

Gent2324

Careers Forum Helper

if investing is included in saving then probably like 75% ?

Reply 5

Rakas21

Currently near zero however i am paying off a debt at the moment. Afterwards, i intend to save a bit over 300 per month however if i wished, i could save more than 600.

Reply 6

Quady

0%

About 40% of my salary goes into investments. But that excludes the mortgage payments and rent from my loger which is basically just 100% capital. So include that and it's more like 55%.

Then there is the income from my investments.

So I think about 60-65% of my income is retained.

Reply 7

Reue

Probably about 75% at the moment.

Reply 8

JJTwentyOne

Go out and spend some of your money people!!!! My biggest savings account is my local

Reply 9

ebam_uk

Just save what I can, after expenses, but hopefully will save more as my salary increases..

0 pounds and 0 pence

None, I have no interest in saving until I'm on a wage where I have a little leeway with my balance.

Reply 12

Emma:-)

Entertainment Forum Helper

Original post by JJTwentyOne

Go out and spend some of your money people!!!! My biggest savings account is my local

How do you expect people to afford stuff, like cars, houses and other stuff if they dont save.

Reply 13

Emma:-)

Entertainment Forum Helper

Most months i save £900 a month

Reply 14

JJTwentyOne

Original post by Emma:-)

How do you expect people to afford stuff, like cars, houses and other stuff if they dont save.

Okay maybe my point was little too harsh. I just feel like some people get so bogged down in saving they forget to actually have a life. Obviously each person has different cirumstances but my point was that...

Reply 15

ebam_uk

Original post by JJTwentyOne

The problem is debt though, people live on credit these days ( credit cards, loans) just think its impossible to retire with all that debt... yeah there is mortgages as well which is fundamentally debt,..

What happened to just living on part of what one earnt and the cost of living being affordable to the average worker..

Reply 16

nexttime

Should I count pension contributions?
Should I count debt reduction, both student loans and mortgage (excluding interest of course)?

But probably about 70%.

Reply 17

JJTwentyOne

Original post by ebam_uk

The problem is debt though, people live on credit these days ( credit cards, loans) just think its impossible to retire with all that debt... yeah there is mortgages as well which is fundamentally debt,..What happened to just living on part of what one earnt and the cost of living being affordable to the average worker..

As in paying off debt/ as apposed to saving money?At the end of the day its all about living within your means. 75% to me seems an awful for anyone to save unless these people are on silly good salaries, in which case fair play to you. My original point was referring to those who are hell bent on saving loads for retirement. If this means you're unable to go out and have fun then I don't get it. Short term goals such as a mortgage of course will have a hit on social life...I'm currently paying debt off as well as saving/investing just because I'm keen to put money into my LISA and invest whilst I'm in my 20's. Probably equals around 40 to 50% of my salary in total going into savings/investments/debt payments.

Reply 18

adam277

Not saving atm as reducing debt.
Well that is the plan always another bill that seems to pop up :tongue:

Reply 19

LostAccount

Including investing but excluding student loans, circa 85%. Including the latter - 99%.

But I live with my parents and only spend money so as to not burden them plus miscellanous things.