A quarter of British adults have no savings, study reveals [now with URBAN POLL!]

Discussion in 'UK politics, current affairs and news' started by editor, Oct 4, 2018.

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How much savings do YOU have?

  1. Nothing. In fact I'm massively in debt

    24 vote(s)
    12.5%
  2. Slightly in debt

    27 vote(s)
    14.1%
  3. No savings but just about solvent

    23 vote(s)
    12.0%
  4. Around £100

    5 vote(s)
    2.6%
  5. Around £1,000

    24 vote(s)
    12.5%
  6. Around £10,000

    46 vote(s)
    24.0%
  7. Around £50,000

    17 vote(s)
    8.9%
  8. Wealth beyond your dreams

    22 vote(s)
    11.5%
  9. I have a live volcano in my underpants and it's making me magma all over

    4 vote(s)
    2.1%
  1. editor

    editor Taffus Maximus

  2. HoratioCuthbert

    HoratioCuthbert 32 degrees

    I can’t mind the last time I wasn’t living permanently in the red! My money costs me money.
     
    Celyn likes this.
  3. FridgeMagnet

    FridgeMagnet Administrator

    I don’t have any savings, and I’m in my 40s with a decently-paying job. I’m surprised it’s only 1 in 4 tbh.
     
  4. quimcunx

    quimcunx Too tall.

    This.
     
    pogofish, campanula, Fez909 and 8 others like this.
  5. weltweit

    weltweit Well-Known Member

    I know someone who earns a lot more than me, and they have no savings. Somehow their expenditure has just increased in line with their income.
     
    Poi E, sealion and HoratioCuthbert like this.
  6. emanymton

    emanymton A cat politely sat on the flaming gardener.

    The bar for 'savings' is pretty low. I have a couple of hundred quid as a buffer in my account that I try not to dip into unless necessary. I guess that means I have savings.
     
    Miss-Shelf, tedsplitter, Edie and 2 others like this.
  7. HoratioCuthbert

    HoratioCuthbert 32 degrees

    Easily done if you look at what it must be costing people to drive a 2018 car around.
     
  8. Threshers_Flail

    Threshers_Flail Well-Known Member

    If it weren't for overdrafts a lot of people would be fucked.
     
  9. HoratioCuthbert

    HoratioCuthbert 32 degrees

    Thing is you spend it once then you live in it for years. What a scam!
     
    A380, Threshers_Flail, 8ball and 7 others like this.
  10. weltweit

    weltweit Well-Known Member

    I am saving at the moment. But I recently had a period on job seekers allowance, where I got used to living on a minimum, and I am not completely out of that habit.
     
  11. Badgers

    Badgers Mr Big Shrimp!

    Hardly a shock this
     
  12. weltweit

    weltweit Well-Known Member

    income £99 expenditure £100 = hell
    income £100 expenditure £99 = heaven

    For most of my adult life I didn't realise this simple fact :)
     
    Bears, A380, pogofish and 8 others like this.
  13. Pickman's model

    Pickman's model Every man and every woman is a star

    Pickman's rule: expenditure rises to meet and exceed income
     
    Old Gergl, A380, campanula and 6 others like this.
  14. weltweit

    weltweit Well-Known Member

    I think an equally interesting question would be:

    What proportion of your net income do you spend on housing?
     
  15. weltweit

    weltweit Well-Known Member

    editor how about an anon poll in the OP, "how much savings do you have?"
     
  16. editor

    editor Taffus Maximus

    'Tis done.
     
    weltweit and Bahnhof Strasse like this.
  17. Thora

    Thora Differently Ethical

    I have a few hundred eg Christmas savings and the kids have a couple of hundred in birthday money, but I guess it is balanced out by a couple of grand of debt.
     
  18. weepiper

    weepiper Jock under the bed

    Does two grand owing on credit cards count as 'massively' or 'slightly' in debt? Asking for a friend.
     
  19. weepiper

    weepiper Jock under the bed

    Currently about 50% of our joint net income goes on rent.
     
  20. moomoo

    moomoo Not so yummy mummy

    I did have £50 stashed away but I had to use it to get my youngest a birthday present for tomorrow.
     
  21. Bahnhof Strasse

    Bahnhof Strasse Free the Sepsis Six!

    Depends what you call savings.

    Bare cash, obviously, but...
    Equity in a house?
    Money in a pension pot?
    Shares?
    Fine wine collection?
    Cannabis farm in basement?

    And so on...
     
  22. B.I.G

    B.I.G Well-Known Member

    If anyone owns a property with equity they have savings.
     
    Buddy Bradley and Celyn like this.
  23. mx wcfc

    mx wcfc Well-Known Member

    55 years old, still got a mortgage (yep, I know, lucky to "own" my own home)'. Paying to get my daughter through uni, so cash wise skint atm, certainly no cash in the bank.

    spent many years smoking like a chimney, assuming I would die before I needed a pension, so fecked in that regard too. Never inherited a penny. Never will. No idea when/if I will ever be able to retire.

    But better off than a lot of people. My death in service benefits are excellent. I just need to die before I get sacked, so my womenfolk will be ok financially.
     
  24. Saul Goodman

    Saul Goodman It's all good, man

    I haven't got a pot to piss in. I actually have to budget my weekly food shopping around the cats' food and vet bills, but I'm no longer in debt, I have a big jar full of shrooms and a load of cats that make me smile, so I consider myself extremely wealthy.
     
    AnnO'Neemus, A380, jusali and 15 others like this.
  25. MrSki

    MrSki Who am I to say you're wrong

    I have a 3 grand overdraft as a hangover from being a mature student. I am chuffed if I can keep it under two K. When the letters come from debt collecting agencies I just bury my head. Still wiser people have said "it is only money" :D They say you can't take it with you but you can if you owe the fuckers thousands. :thumbs:
     
  26. mojo pixy

    mojo pixy unquantifiable hazards

    I normally manage to put by a few hundred over the course of a year by essentially going without any kind of social life most of the time. Still it always goes on something, I can never seem to build savings up. No overdraft facility in my bank a/c, past experience means I like it that way, I stay above zero now. No cards. But rent = at least 50% of my income. Also a massive unpaid student loan (though that may soon be cancelled because I'm old)
     
  27. HoratioCuthbert

    HoratioCuthbert 32 degrees

    You can get these cardboard hats to piss in, or i will be happy to steal a few if necessary, PM me
     
    Celyn and Saul Goodman like this.
  28. danny la rouge

    danny la rouge Warning: posts may cause vasovagal presyncope

    No savings here. No pension either.
     
    campanula, Celyn and HoratioCuthbert like this.
  29. Favelado

    Favelado Half to the Tower, please.

    There are tonnes of posters on here pretending they aren't well-off and we all know it. I'm not one of them.
     
  30. mojo pixy

    mojo pixy unquantifiable hazards

    Oh I thought you only meant onshore savings...

    Well,
     

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