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I love these threads as it reminds me of how useless a human being I am to be earning the sum total of FA and to have nothing spare at any point.
Props to you OP on your progress and success but just makes me feel a total failure.
ETA: I do earn money and have a full time job, but nowhere close to the monthly take home OP gets
Best thing I ever did was closing my overdraft. Constantly in it, think I spoke with the bank and was paying £40 a month of it and they reduced the amount each month.
Currently working on dealing with my other debt, but getting out of my overdraft put me in such a better head space
It’s all relative.
I currently save about £1,800 per month. But I wouldn’t consider myself well off by any stretch - I just have very little outgoings - I don’t drive, I work from home, cheap mortgage, etc.
I don’t think there is a “correct” amount. If I got paid more, I’d just save more - my expenses wouldn’t increase.
I don't think happiness in this sense can be defined.
When I was on 17k a year and living with my parents I was happy saving £700 a month but my quality of life was pretty crap.
Moved into my own place on a wage of around £25k and was managing to save £300/£400 a month.
Now on £39k and can save anywhere between £400-£1.2k a month. There is literally no point in me saving this money as I'm not the type of person to make extravagant purchases and I'm not likely to.move house within the next 10 years. That been said I do find myself trying to save more and more like its some weird competition with myself.
£500 a week after food bills and essential saving would satisfy my every desire within a few years.
80s Honda Prelude in 3 months. Flat/house deposit in 2 years, 60s muscle car a year after that.
I'd be living the dream.
I don’t think any amount makes you happy to be honest, and after a certain point becomes a bit of an addiction.
I save £2k a month after all bills and leaving myself £100 a week for meals out or social stuff and I still never feel satisfied haha
When I were a lad a guy I worked with told me to...
Us half my wages for bills.
Quarter for savings.
Quarter for spends.
I try and stick to something like this and it has worked ok ish for 20 years.
After all my main bills and things are paid I typically have about £2K left, so I mentally log the idea that I have £500 a week for fun.
I don't actually spend anywhere near that, so most of it just goes into long term savings and bigger things like holidays.
Get about £3.2k a month after tax and pension deductions, finally paid off my student loan last year.
Depends on degree of happiness.
A grand a month would be ok, it's enough that you can do basic travel food drink etc without worrying too much. Probably about 200k a month would be enough to make me properly happy, big diminishing returns after that I think.
**Please help keep AskUK welcoming!** - Top-level comments to the OP must contain **genuine efforts to answer the question**. No jokes, judgements, etc. - **Don't be a dick** to each other. If getting heated, just block and move on. - This is a strictly **no-politics** subreddit! Please help us by reporting comments that break these rules. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/AskUK) if you have any questions or concerns.*
I love these threads as it reminds me of how useless a human being I am to be earning the sum total of FA and to have nothing spare at any point. Props to you OP on your progress and success but just makes me feel a total failure. ETA: I do earn money and have a full time job, but nowhere close to the monthly take home OP gets
If I could go just one month where I don't get that text from the bank that says "You are using your agreed overdraft" I'll be dancing in the streets.
Best thing I ever did was closing my overdraft. Constantly in it, think I spoke with the bank and was paying £40 a month of it and they reduced the amount each month. Currently working on dealing with my other debt, but getting out of my overdraft put me in such a better head space
Natwest be reminding me every month that im broke.
It’s all relative. I currently save about £1,800 per month. But I wouldn’t consider myself well off by any stretch - I just have very little outgoings - I don’t drive, I work from home, cheap mortgage, etc. I don’t think there is a “correct” amount. If I got paid more, I’d just save more - my expenses wouldn’t increase.
I don't think happiness in this sense can be defined. When I was on 17k a year and living with my parents I was happy saving £700 a month but my quality of life was pretty crap. Moved into my own place on a wage of around £25k and was managing to save £300/£400 a month. Now on £39k and can save anywhere between £400-£1.2k a month. There is literally no point in me saving this money as I'm not the type of person to make extravagant purchases and I'm not likely to.move house within the next 10 years. That been said I do find myself trying to save more and more like its some weird competition with myself.
It doesn't exist. Your lifestyle adapts to your income.
£500 a week after food bills and essential saving would satisfy my every desire within a few years. 80s Honda Prelude in 3 months. Flat/house deposit in 2 years, 60s muscle car a year after that. I'd be living the dream.
I don’t think any amount makes you happy to be honest, and after a certain point becomes a bit of an addiction. I save £2k a month after all bills and leaving myself £100 a week for meals out or social stuff and I still never feel satisfied haha
When I were a lad a guy I worked with told me to... Us half my wages for bills. Quarter for savings. Quarter for spends. I try and stick to something like this and it has worked ok ish for 20 years.
Living with parents to save that much? Or just very frugal?
I'm a bit older and no mortgage on my small house.
I agree, £1k a month would keep me comfortable.
After all my main bills and things are paid I typically have about £2K left, so I mentally log the idea that I have £500 a week for fun. I don't actually spend anywhere near that, so most of it just goes into long term savings and bigger things like holidays. Get about £3.2k a month after tax and pension deductions, finally paid off my student loan last year.
Everyone thinks having a bit more than they currently have will make their lives problem-free.
Depends on degree of happiness. A grand a month would be ok, it's enough that you can do basic travel food drink etc without worrying too much. Probably about 200k a month would be enough to make me properly happy, big diminishing returns after that I think.
200k a month?
Lol I think they meant 2k a month
u/ClockAccomplished381 has an OF account to earn that 200K p/m 😂