How do your savings compare to your earnings?

3 December 2007

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Poll Started 04 Dec 2007: A month ago I ran a poll to see how much debt people had compared to their annual income; the results (view them) were fascinating, so I thought this time I’d run a poll find out how much those who save have. How to work it out: Step 1: Add up all your savings. Then if you have any debts (excluding a mortgage) subtract that (though also read the Should I Pay Off My Debts With Savings article). Step 2: Divide the total by your annual income. E.g. If you’ve saved £5,000 and earn £20,000 your savings are a quarter of your earnings.

Poll Started 04 Dec 2007:

A month ago I ran a poll to see how much debt people had compared to their annual income; the results (view them) were fascinating, so I thought this time I’d run a poll find out how much those who save have.

How to work it out:

Step 1: Add up all your savings. Then if you have any debts (excluding a mortgage) subtract that (though also read the Should I Pay Off My Debts With Savings article).

Step 2: Divide the total by your annual income. E.g. If you’ve saved £5,000 and earn £20,000 your savings are a quarter of your earnings.

Results

A. I’m in debt.		829 votes (23 %)
B. I’m not in debt, but don’t have any savings.		266 votes (8 %)
C. My savings are less than a tenth (10%) of my annual income.		407 votes (12 %)
D. My savings are less than a quarter (25%) of my annual income.		433 votes (12 %)
E. My savings are less than a half (50%) of my annual income.		310 votes (9 %)
F. My savings are less than my annual income.		334 votes (9 %)
G. My savings are more than my annual income.		330 votes (9 %)
H. My savings are more than double my annual income.		183 votes (5 %)
I. My savings are more than three times my annual income.		136 votes (4 %)
J. My savings are more than five times my annual income.		139 votes (4 %)
K. My savings are more than ten times my annual income.		161 votes (5 %)

                   3,528 votes received.

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