Spending

Cap_Scarlet

Interesting news story about people being asked to spend ......and that got me to thinking......if i did spend - what woud I actually spend it on.

I have the following "stuff":

House
Car
Motorbike
Mountain bike (s)
Various gadgetry
Holiday home

So tell me - what are you saving for (other than retirement) what is on your most wanted "stuff" list?

Primrose

I'm retired and there is absolutely nothing of any consequence that I want to spend my money on. I think one reaches a certain age where things like your health and family become more important. I have a ten year old car and even though I could afford to replace it, it ain't broke, so I'm not going to fix it. And the rest of my domestic equipment operates on similar lines.

I do wish the powers that be would get their heads together and start sending out a consistent message. It's all very well for an official of the Bank of England to tell people to "stop whinging about the low interest rates they're receiving on their savings and to start spending" when we've had a whole decade of people spending more that they earn and driving themselves and the nation into debt.

A huge proportion of the nation are lined up for poverty in old age because they're not saving enough for their retirement. The nation can't afford to keep bailing them out with increased benefits either. Yet those who do save then receive wretched interest rates and are told to "go out and spend it" to get the nation out of trouble, leaving their personal coffers empty when they might need to pay for decent care or spport in late old age.

I'd really would like to bang a lot of heads together and get these people sorting their act out. No, I'm not going to spend to get these jokers out of trouble. My money's staying in the bank. Might go overboard and treat myself to a cream doughnut at lunchtime though.:rotfl:

Reaper

Likewise there is little I really need.

However I am currently keeping everybody happy by getting my loft converted into another bedroom.
* The Bank of England is happy I'm spending money employing builders.
* Family happy to be getting the extra space.
* I'm happy because it adds to the value of the house so it's almost free (plus or minus).

Ah, guilt free spending. I love it. Looking around for similar projects after that - currently reaserching PV solar panels.

Old_Slaphead

Holidays and a few bottles of decent wine.

Anything extra goes into the 'early retirement' saving fund which got severly depleted thanks to those nice Equitable Life people.

Cap_Scarlet

Actually thinking about it more, and Reaper you have a good point. The message should surely be "Spend on things that will stimulate growth in the UK economy" i.e. spending on a car manufactured outside the UK does little to help the UK economy as it puts money in the coffers (mainly) or our industrial competitors. Similarly buying a big TV or any other durable not manufactured in the UK.

However, spending on home improvements or perhaps even eating out more is likely to increase earnings in the country that will stay in the country.

I also wonder (in a slightly off topic way) how much junk is sitting around in peoples houses that they have either got bored of or simply have superceded by something new and improved? I have recently started using ebay (I know, I am a late adopter) and have been amazed by how much one can get for .....errrr.....old tat. The cash generated is (in my twisted mind) now free money which I can spend on more tat.