Spend or save, spend or save ...

Barros

wriggly wrote: »

I'd say you've discovered that just being a consumer of material goods is not the recipe for a happy life. At your age, you may have big expenditures ahead of you (house, wedding, kids?), and paying for these will be much more pleasant if you have savings rather than going into debt. (At least, your interest rate will be lower if you start with a bigger deposit).

On the other hand, you're in your prime for having worthwhile experiences, whether that is just spending time with your friends, or more adventurous (skydiving, travel, etc). Don't deny yourself if there's something that sounds worth a go.

i think thats the key huh! incidentally, have sky dived and travelled very fortunate.

thanks, i think id maybe agree on the first line of your response... its a nice feeling. xx

DavidHayton

Barros wrote: »

Are you a saving man then, do you have any goals short or long term? :beer:

Yes I save. My short term goals are rather mundane ... making sure I have enough to replace the car (it will pack up eventually), go on holiday, pay for house repairs, etc, etc.

Long term goals: (a) getting multiple children through university and established in life and [if any money is left after that ...] (b) to be in a position to be able to pick and choose the work that I do, and not have to work for a salary.

pamelamalcolm

these are really good stories, it's hard for me to save that much because I have two kids. but my dh and I are trying to save every month.

milton1970

Barros ... you can't take it with you ...

poorgirl-54

i cannot stop spending.......whats the trick/magic spell, that you dont spend - please share, so i too can stop spending, i would

i dont have debt,
i too live in the big smoke, if i didnt spend i would have atleast 800 left a month, but im lured in by the shops and activities of lon- which just blow it all

Barros

poorgirl-54 wrote: »

i cannot stop spending.......whats the trick/magic spell, that you dont spend - please share, so i too can stop spending, i would

i dont have debt,
i too live in the big smoke, if i didnt spend i would have atleast 800 left a month, but im lured in by the shops and activities of lon- which just blow it all

London does est the cash! :rotfl:

I am very settled with my friends and family, after work (mon-fri) i am out doing activities that i enjoy with friends and i budget for them. because i have these every week and i am in late it forces me to plan my food etc

i think i started by writing everything down and thinking about how much id spend on [EMAIL="!!!!"]!!!![/EMAIL]! ...

e.g i used to go to starbucks 2-3 mornings before work for a coffee - £2.50. Then I started going to a takeout please, and got toast and tea for £1.20. Then I thought what on earth - and got up 10 mins early to make my breakfast and lunch while brekkie was on.

I was justifying things by 'i deserve a nice........ as its been a long/hard day'. now i don't miss my starbucks, id much rather see my money grow so if i want i can go and buy somehting if i really want to.

couldn't tell you the last time i had a starbucks now - about a year ago!?

rictus123

Great thread! I too have cut down on small things, like i used to enjoy the odd flutter but it became 3 or 4 bets a weekend then onto more an all the money soon adds up that you spend! And its likewise with saving, it should all add up fairly quickly! Il keep investing my £2 into our 7 man Euromillions syndicate, just incase our numbers come up!

Nottoobadyet

Jake'sGran wrote: »

The people who will get my money are all big spenders.

What a sad state state that you wont get to enjoy everything you've worked so hard for! Have you considered giving part of your estate to a charity you trust to spend it well? At least you would know that everything you've scrimped so hard for is going to a good cause, which might give you some peace of mind.

I'm with the OP - I rarely spend on myself, and wonder how so many of my friends and family can eat through the remainders of their pay checks (often much bigger than mine!). I borrowed to do a masters, but am now out of debt and hopefully will remain so. The one thing I do spend quite a lot on is international travel, which I don't regret one bit.

theoretica

You aren't alone. I buy things if I think they are worth the money and will give me pleasure, but there are so many cheap things I really enjoy that I can't see why I should spend more on something I will enjoy less. I am really grateful to my parents who managed to teach me to see behind advertising and that there is no need to do what everyone else is.

I plan to increase my charity donations this year and play with long term risky investment.

funscott

where to start. I have always been tight with money. i dont think i have ever had to look at my bank statment to check i have money in it. due to my tightness I manged to save for a deposit fo my flat (bought at the right time) so got a very good mortguage (0.75% above boe). I generally save for my next car (I keep them about 6 years) so when i do buy i want the best I can afford. now that i have saved a little more and have done well with stocks and shares things are looking great for the next 12 months. so now as others have said im looking forward to enjoying life. might go a couple holidays and learn to snowboard n see a bit of the world. As everyone has said its about balance and getting the balance right. im only in my late 20s so hope to have a few years left to enjoy. on the otehr hand i would also like to retire early (50s ish) so will require soem smart investments. what i am rambling on about is to live for today but also plan for the future.

my friends some times take the mick that I dont spend alot yet they are amazed that my financial situation isnt living month to month like them. infact if i lost my job tomorrow I could probably live for a couple years without worry / reduced income which is all i need to know I dont have to worry about when the next paycheck will arrive. I am very fortunate but this didnt happen by chance I worked to get to this situation.

ramble over

ps i dont own a credit card. debit card only