What's your savings/ earnings ratio?

Siliconslave · 13 Dec 2011 at 16:18

I have about 1/4 of my yearly (pre-tax) wage saved as a fall back position. Everything else is pushed into my mortgage (on a variable rate with no overpayment limit) where my money isn't decreasing in value (interest rate vs inflation sucks

)

Rybo89 · 13 Dec 2011 at 16:27

I spend more than I earn but don't have any debts.

Got about 14k, 10.8k is fixed till next December....no plans for it any more, if I blow It, I blow it...

Ahleckz · 13 Dec 2011 at 16:39

Rybo89 said:
I spend more than I earn but don't have any debts.

Got about 14k, 10.8k is fixed till next December....no plans for it any more, if I blow It, I blow it...

How is that possible?

Moses said:
But you have a house/flat, no?

---

I don't earn anything, but have savings, so I win in terms of ratios (or draw with the other guy, but I have more savings than him, so meh... not that I saved it, though ).

Quite, I own a property outright.

Witor · 13 Dec 2011 at 16:39

Got around 20% of my annual wage saved up for an emergency, not saving much at the moment, if anything. Pretty much spend what I earn, but I'm overpaying the mortgage in order to mitigate if/when interest rates rise...

Pestilence · 13 Dec 2011 at 16:42

Nothing.

We're only just in a position to start putting away about 5% monthly income. Though during the course of next year that will increase to about 15%/month.

Strife212 · 13 Dec 2011 at 16:42

[TW]Fox;20787789 said:
59k in savings from 24k a year after tax at 21?

Have you ever bought anything?

arctine said:
Originally Posted by arctine
Nope. I didn't go to university. I joined the RAF as soon as I left school at 16.

There's not much discipline, I take home over 2k a month and my outgoings are around £200 a month.

So you haven't bought anything

I wouldn't be able to save that percentage.

MrMoonX · 13 Dec 2011 at 16:44

OP epeen

/thread

godinman · 13 Dec 2011 at 16:45

At the moment I save around 90% of what I earn. That's why I moved back in with my parents to save up for a mortgage, GF did the same and we've now got almost 30k. Excellent.

But christ I'm poor compared to a lot of people on here.

WobblerJW · 13 Dec 2011 at 16:46

err i think i save like 1% of what i earn atm lol been spending most of what i get on upgrades (DAMN YOU PC!!! lol)

Rybo89 · 13 Dec 2011 at 16:51

Ahleckz said:
How is that possible

Because lately I have been spending stupid money every month treating my self and others... I had a lot more in my accounts last year.

Narj · 13 Dec 2011 at 16:51

These willy waving threads always make me cringe.

At the moment I'm saving nothing - paying off my new kitchen and bathroom instead.

Lopéz · 13 Dec 2011 at 16:54

Disco Boy said:
I didn't claim, at any stage, that it was meaningful.

Then what's the point :confused:

Your "ratio" doesn't mean anything. It would be like me posting the ratio between my lifetime's expenditure on chips and the salary of the job I started 3 months ago.

MeEsH BaKkA · 13 Dec 2011 at 16:57

I saved once. It wasn't for me.

Gotta use money to make money.

grudas · 13 Dec 2011 at 16:58

nothing.

Disco Boy · 13 Dec 2011 at 16:58

Lopéz said:
Then what's the point

Because I am curious? I noticed that the ratio is high for me, and wondered if I am the only one.

chrisd · 13 Dec 2011 at 16:59

arctine said:
Earn £32000 a year.

What rank are you after 5 years in the RAF?

Lopéz · 13 Dec 2011 at 17:01

Disco Boy said:
Because I am curious? I noticed that the ratio is high for me, and wondered if I am the only one.

Crikey, you are making hard work of this aren't you?

Your "ratio" is meaningless, can't you see that? Your savings are the product of your entire life, your salary is something you have just started to earn in the last few months, so there is not going to be any meaningful correlation between the two. So yours being high means precisely er... nothing.

edscdk · 13 Dec 2011 at 17:05

depends I pay it all of the mortgage so its 0%

if you ignore the mortgate its 70% ish...

I over pay mortgage by 400% i think.. (ish)

Disco Boy · 13 Dec 2011 at 17:05

Lopéz said:
Crikey, you are making hard work of this aren't you?

Your "ratio" is meaningless, can't you see that? Your savings are the product of your entire life, your salary is something you have just started to earn in the last few months, so there is not going to be any meaningful correlation between the two. So yours being high means precisely er... nothing.

It's not me who is making hard work of this.
Can I see that?... well let me look earlier in the thread to find out:

Disco Boy said:
I didn't claim, at any stage, that it was meaningful.

Disco Boy said:
I am interested in comparing an absolute and annual figure - which is almost useless I will agree, but I am interested in it nonetheless.

Okay?

flame696 · 13 Dec 2011 at 17:11

these type of threads make me depressed!! why do we need to know this information, its like saying how big is your man hood (which would also make me depressed)

Any how im 31, wife 3 kids 0 savings and just been made redundant!!!! Does that make you happy people??