Post # 1
It doesn’t tehnically have to be in a savings account (I say this because I just thought of the fact that at the moment, our “savings” is in fact mostly in our checking account because I haven’t moved it)– but how much money do you have that you call savings?
How much do you add to it each month?
I know this will vary greatly- as each of us have different jobs and lifestyles.
Am wondering why I can’t add a poll to this? Has it disappeared. Am going to post, then hopefully find a way to add a poll to keep it annonymous!
Post # 3
The ONLY reason DH and I have anything in our savings is because most of our wedding gifts were cash and we instantly deposited it in an account that is not to be accessed. Otherwise, we would have no savings 🙁 We just can’t get a grip on it
Post # 4
I just added a “kids” option to the poll– I know that’s where a lot of our money goes!
Post # 5
My husband and I have fairly substantial savings (I picked the fifth option). We are able to save quite a bit every month (just into the four figures). We like to keep it this way as we’re sort of half-heartedly looking at houses. We love our rented apartment but like the notion that we could pounce if we saw something that just knocked our socks off.
We live fairly frugally. We don’t eat out, our car is 14 years old (paid off eons ago, before I even met him), we have no children, zero debt (we have credit cards, but they carry zero balance).
We’re also keenly conscious that this could all change in the future (our ability to save at this level). My husband is in a high-demand field that he’s worked very hard to build a career in, but this is just dumb luck, not a virtue in and of itself. Plenty of people work just as hard with just as much talent, but don’t happen to be in a ‘hot’ field or a ‘hot’ job market.
Seeing the economy of our home country (not the US) implode around us since 2008 makes us very very sensitive to the realities that none of this is guarenteed forever. I think that’s also a big part of what formed our character as ‘extreme savers’. Too many close friends have lost almost everything or emigrated.
Post # 6
I have 0-5k, but it’s growing! I’m on a plan to save $4 everyday (works out to about $100 per month). My savings took a real hit last year when I lost my job so the fact that I’m even back to saving a little bit is a huge victory for me!
Post # 7
@renwoman: I think it’s super awesome that you have that goal set. Every penny counts (I just counted my son’s piggy bank two days ago and I had NO idea he had $50 in there!! He’s five, and we’ve definitely emptied it out a few times already!)
Post # 8
I am not going to change the poll at this point, but what I wish I would have made the poll so it showed HOW much you have in savings AND whether or not you have kids— I wanted sort of the bigger picture LOL dang I’m a thinker….not so much sometimes!!
Post # 9
I have an 18 year old finishing up his freshman year in college and an 11 year old and we are 1 paycheck away from breaking 42k combined checking, savings. Both kids have their own bank accounts. The 18 year old gets an allowance from us of $200/mo. Anything else he wants, he needs to buy with his own money from his job, wait until Christmas or his birthday or hope I’m feeling extremely charitable. Otherwise, teaching him how to be a man requires us to let him stand on his own 2 feet.
We add, on average $500 – $1000/mo into savings
Post # 10
We have enough for the downpayment on a house!
Now for the actual house thing to happen…
Post # 11
Hmmm do stocks count? We have a pretty large sum invested in different stocks at the moment.
Post # 12
We are 22 and 20 and just bought our first house this summer. FI has over 20K in savings and is saving about 3K every month since he got his first full time job last month. I’m a full time student so I only have about 1K in savings but have no debts at all.
Post # 13
@MrsEME: At the moment we have about $13k in regular savings and $12k in retirement. We paid for our wedding in cash, so that was $10k out of savings.
Currently, we save about $1600 a month ($500 in 401k). We prioritize savings first and sometimes don’t eat out, buy nice things or take certain trips. We still enjoy life, but live below our means.
Post # 14
- Wedding: October 2013 - Vine Street Church
We’re at a little over $5000, but we’re gonna be able to save up a LOT more this year because we’re not paying for our wedding or honeymoon, lol. We’re hoping to have more like $15,000 by the end of the year.
Post # 15
We have close to 10k in savings now, and havne’t been able to save any more since planning the wedding, but also haven’t dipped in to it at all. i can generally save about $1000-1500 a month pretty easily, but we also don’t have kids
Post # 16
@MrsBeck: The stocks count if they are “safe”- meaning you can’t loose. I am referring to “secure” money, I guess. CDs count!