Are you more well off than you say you are?

pixtotts · 2 October 2013 at 8:48PM

I definitely do the finances I go off, the one with constant money going and out is just 1 bank account... but I actually have 5 of several varieties with a couple of banks, 1 I use purely for birthday money, a savings account my Nanny started for me that I just havent decided what to spend the money on yet

(my nan died a few months after giving it to me so I'm saving it for something special

).
I also never go below £100 in the most used account so I always have a nice margin to keep me afloat should I need it.
x

LucyGoose · 23 October 2013 at 6:55PM

pinkteapot wrote: »

You could just say "I've got no spending money left this month". Then you're not lying. And if they're friends, they should understand. I would never try and convince any of mine to spend more than they were happy to.

That's what I say to my friends. They all know I'm saving for a deposit on a house so they understand if I can't make it on a night out. Usually I end up doing things of very low cost with my friends, like taking their dogs out for long walks on the forest.

jennikitten · 31 October 2013 at 3:35PM

I think your attitude is great for your situation. As I don't have kids I'm a bit more relaxed...if I feel like doing something I'll tend to make the decision based on how tired I am, what's involved, who's involved, what my other plans are etc. rather than how much it costs. Saving rates are so low at the moment I'm investing in small things (like for my business or value-adding things for my home) rather than saving much. I don't want my money to sit around at lower-than-inflation interest rates.

SailorSam · 31 October 2013 at 3:55PM

The guy in garage that i use to use to get all my repairs done would ask to be paid partly by cheque and the rest in cash. It wasn't just 'cos of the taxman but he didn't even want his wife to know what he had. He had a jar under his workbench and swore that was the safest place to keep his money.
If the taxman is reading this, he's dead now.

willow23_2 · 14 November 2013 at 5:27PM

There seems to be some kind of stigma when it comes to saying, "I'd love to but no thanks," when it comes to nights out.

InsideInsurance · 25 November 2013 at 5:52PM

SailorSam wrote: »

If the taxman is reading this, he's dead now.

His wife found it hu?:beer:

Craig210189 · 25 November 2013 at 6:24PM

Myself and my partner are in a similar situation, because we are saving for our wedding and also paying off a few debts to parents/credit cards (almost there!!) We only usually allow ourselves just over £100 'spending money' each a month, everything else is completely accounted for - food, petrol, bills etc but the spending money is what we use to buy ourselves treats, like clothes, hair cuts or going out with friends. I must say it doesn't stretch very far so i'm quite often saying 'I have no money'. But in reality we do, and quite often will buy ourselves an iPad for example or are going on holiday, but we take that out of our pay separately and as you do, don't count that as part of our own money!

I wouldn't say it's lying or deceiving your friends, savings are savings, and if you dip into them then it becomes a bad habit and cycle of not replacing them!!

Prothet_of_Doom · 25 November 2013 at 6:43PM

My sister lives like the OP.

She came to stay one weekend, wouldn't put her hand in her pocket for a single thing, we went out for a meal, and I paid out of money I didn't really have. I was happy to do that because she is my sister and she said she was skint.

and 6 weeks later she went to the USA on Holiday for 3 weaks to scab off my other sister.

I couldn't afford to go camping in Devon with my family, so we had a holiday at home that year.

I challenged her on it next time I saw her, and she said "I never have any money, because I'm always saving up for something"

I felt like I'd been mugged.

TBagpuss · 25 November 2013 at 9:29PM

Well, except the OP said she wouldn't go out with friends when she'd run out of 'spending' money, so unlike our sister, she isn't sponging off her friends.

I'm similar, I have a budget, and when its gone, it's gone. The money which is going to savings isn't real money, any more than the money earmarked to pay bills -it's already spoken for.

But I would never let someone else pay for me unless I was going to be able to pay them back, either in cash or kind.

porgiegeorgie · 12 December 2013 at 1:51AM

DH and I save 20% of our monthly income towards our mortgage deposit and probably come across as stingey rather than less well off than we are. We never lie about our finances but make it incredibly clear that without saving we'll never stump up enough for a mortgage deposit.

Saying that we are more vague with some people about how much we have saved (the more scroungy of our friends!).

Are you more well off than you say you are?

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