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Beck
LIF Adult
Member since 7/08 1334 total posts
Name:
still can't believe it's mommy
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Personal money question (poll)
We have always been lucky enough to have some money saved up in the bank.
I thought it was a decent amount but I was talking to a friend who mentioned the amount in their savings account & I was shocked at how much they had.
So I'm just curious how much money most people have in savings (not including 401k or any type of plan)
I know it's a personal question & really none of my business so you don't even have to respond, just thought I'd ask.
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Posted 9/25/12 10:49 PM  |
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butterfly20
Party of 5 - 2015
Member since 4/06 7390 total posts
Name:
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Personal money question (poll)
great question... I've wondered this too... I always remember polls on here with combined salary but wondered about how people are doing with savings cause so many of my coworkers who make more than me wonder how I'm going to pay for two kids in daycare full time.
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| Posted 9/26/12 4:27 AM |
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Jacksmommy
My love muffin!
Member since 1/07 5819 total posts
Name:
Liz
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Re: Personal money question (poll)
We have money in stocks (not savings) from our wedding and the death of my fil but we never touch it. Also we rarely add to it due to being stretched thin. If we didn't have that we would have nothing.
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| Posted 9/26/12 5:08 AM |
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dlj97
LIF Adult
Member since 7/10 4399 total posts
Name:
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Personal money question (poll)
We have money in savings, but hopefully that will get us a house one day. We have a decent amount, but nowhere near what we need for a down payment and closing costs for a house on LI!
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| Posted 9/26/12 7:34 AM |
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Annie91606
Brotherly love
Member since 12/07 1816 total posts
Name:
Anne
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Re: Personal money question (poll)
We have different savings accounts for different situations:
Our 401(k) retirement accounts (money is not touched).
529 College Savings accounts for each of our sons (we don't have that much in those yet).
Emergency Fund for unexpected household expenses, etc. (cash not stocks).
Vacation Fund (we dip into this to pay for any trips we take).
I give my DH all of the credit for us having these various accounts. Before I met him, I didn't really save money at all, and I used credit cards to cover costs when I couldn't make ends meet. The only good thing I did was to regularly contribute to my 401(k).
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| Posted 9/26/12 8:50 AM |
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Bridex100
Two Under Two Mommy
Member since 3/08 10420 total posts
Name:
Momx100
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Re: Personal money question (poll)
DH is obsessed with saving so we are sitting on a lot of cash. He is wary about the markets so we are sitting on cash earning 1% per year. Terrible.
We just bought a house this year so the down payment took a decent chunk of our savings. DH is trying to put back the savings we used to buy our house.
I'm a big spender so DH keeps me in line. I used to earn good money in Manhattan and barely saved after maxing out IRA/401k contributions.
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| Posted 9/26/12 10:16 AM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: Personal money question (poll)
We have a very good amount. When we sell our coop and buy a house it will be a lot less though 
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| Posted 9/26/12 10:16 AM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: Personal money question (poll)
a lot which is stupid to have sitting in a CHECKING account 
we have a savings but leave most $$ in our joint checking. we then each have our own checking and savings.
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| Posted 9/26/12 11:25 AM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: Personal money question (poll)
its sad. we have more than most but I STILL do not feel comfortable. i do not know what I will EVER feel comfortable. if one of us lost our jobs - we could go through it within 12-18 months easy.
thankfully we have 65% equity in our home if god forbid we ever had to sell  
when i start thinking about the what ifs - i always end with the thought that we could sell the house and move down south and be OK 
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| Posted 9/26/12 11:27 AM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: Personal money question (poll)
Posted by butterfly20
great question... I've wondered this too... I always remember polls on here with combined salary but wondered about how people are doing with savings cause so many of my coworkers who make more than me wonder how I'm going to pay for two kids in daycare full time.
its near impossible. i kid you not, between mortgage, bills, 2 kids in daycare ... we will be spending nearly 6800 MONTHLY! i don't know how people do it with more than two and SAVE! i doubt we will save much over the next 2.5 years
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| Posted 9/26/12 11:29 AM |
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nraboni
Uggh...
Member since 10/09 6905 total posts
Name:
Nicole
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Personal money question (poll)
I always hate these questions because they make me feel so poor...lol
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| Posted 9/26/12 11:38 AM |
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Onemoretime
LIF Adult
Member since 9/12 1077 total posts
Name:
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Re: Personal money question (poll)
We have enough to carry us for 4-5 months in case of job loss. we did buy a $$$ home 1.5 years ago (20% down) and paid down 24k of our mortgage off so far. While we don't have huge cash amount, we try to use our $$ to benefit long term. Having extra cash is not as beneficial to us as paying down the mort and saving a lot of $ in interest.
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| Posted 9/26/12 11:51 AM |
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Beck
LIF Adult
Member since 7/08 1334 total posts
Name:
still can't believe it's mommy
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Re: Personal money question (poll)
Posted by Onemoretime
We have enough to carry us for 4-5 months in case of job loss. we did buy a $$$ home 1.5 years ago (20% down) and paid down 24k of our mortgage off so far. While we don't have huge cash amount, we try to use our $$ to benefit long term. Having extra cash is not as beneficial to us as paying down the mort and saving a lot of $ in interest.
That's a good point.
Especially now when interest rates on savings accounts are 0.0something %
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| Posted 9/26/12 3:50 PM |
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wingsofsong
My 3 little loves <3<3<3
Member since 1/09 7395 total posts
Name:
Maureen
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Re: Personal money question (poll)
Posted by nraboni
I always hate these questions because they make me feel so poor...lol
Ditto.
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| Posted 9/26/12 5:39 PM |
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browneyedgirl
family is all that matters
Member since 6/06 6513 total posts
Name:
browneyes
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Re: Personal money question (poll)
we have a lot of different accounts:
529 for each kid
ING savings account for each kid
general savings for us
car down payment fund--savings account
emergency backup fund--savings account
403b and 401K accounts
liquid CD
my goal is to pay for college for each kid when the time comes. I don't want them having the loans I had but I also have bills to pay and can't put the amount in all the accounts that I want to. So yes, we have great savings for the future.
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| Posted 9/26/12 7:03 PM |
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mnmsoinlove
Mommy to 2 sweet girls!
Member since 3/09 8585 total posts
Name:
Melissa
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Re: Personal money question (poll)
Our savings account is basically our down payment money if ww decide to buy a home. Than we have a decent amount in our emergency fund savings enough to float us for 5-6 months without worrying. We also have a saving accounts for each girl we contribute bi-weekly to.
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| Posted 9/26/12 7:30 PM |
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Beck
LIF Adult
Member since 7/08 1334 total posts
Name:
still can't believe it's mommy
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Re: Personal money question (poll)
Posted by browneyedgirl
we have a lot of different accounts:
529 for each kid
ING savings account for each kid
general savings for us
car down payment fund--savings account
emergency backup fund--savings account
403b and 401K accounts
liquid CD
my goal is to pay for college for each kid when the time comes. I don't want them having the loans I had but I also have bills to pay and can't put the amount in all the accounts that I want to. So yes, we have great savings for the future.
I was just coming back to this post to add a comment saying that it's so hard to save money these days, especially living in NY.
Anything in the bank is an accomplishment to be proud of.
But after reading this post I feel pretty poor myself.
It is really great that you are able to have that much saved, I'm sure it's a sacrifice & it's not easy.
My poor kid is going to have to take out every loan she can get, apply for scholarships & work while going to college like I did but she'll get over it
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| Posted 9/27/12 11:37 PM |
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violet25
LIF Infant
Member since 8/12 101 total posts
Name:
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Re: Personal money question (poll)
we had a lot (well over 100k+) but then we bought a house and put down more than 20%, did a lot of renovations, bought a new car, and things are different. we have a healthy emergency fund, a small-medium amount in savings, and are replenishing.
We are lucky though. Good jobs yes but family helped out with college, wedding, and we both had scholarships which helped us save more easily.
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| Posted 9/28/12 12:01 AM |
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