I found this infographic from Shepherds Friendly about the state of UK saving habits really interesting, and if I’m honest a little bit scary!

Does one size fit all?

I don’t think I fit in one box. Because I do save for both short term and long term. We’ve always avoided credit cards and hp agreements, preferring to save and buy things when we have the money.

Short term we have a savings account for our holiday to Australia at the end of this year. And when we have enough for that, it will become savings for redecorating our lounge. Long term we put a small amount by each month for the boys.

Are you prepared?

I once read that you should have a years salary in savings. I don’t know anyone in that position. We definitely would not last for a year without income.

Are savings, no matter how small, a privilege?

Even when you do have the best intentions, life happens. The car breaks down, or the kids have simultaneous growth spurts and both need new shoes. This month a trip to the pharmacy to pick up some repeat prescriptions for the husband and myself, and purchasing some over the counter medicine and I had waved goodbye to £48!

Then there’s school trips, birthday gifts, the fact my kids seem to need feeding on a fairly regular basis. Life can be expensive.

Dream verses reality

Whilst I think saving for the long term (one day I will have a holiday home*) is a good idea, in reality it’s not always possible. Not when my kids keep growing.

*A girl can dream!

Do you save each month?

The state of the UK saving habits

the state of UK saving habits

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Claire Kirby

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