I stopped saving and I am spending again

edited 11 October 2011 at 7:06AM in How much have you saved?
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[Deleted User][Deleted User] Forumite
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edited 11 October 2011 at 7:06AM in How much have you saved?
Our safety net of savings is in place and we enjoy living here in beautiful rural England, so don`t splurge on holidays as every day is a holiday since retirement and moving. We reached the point when we were saying `what is the point of more savings` so now we are buying a few nice, luxury items. We are naturally os and dh is good at lots of household jobs and I am good at os home-making so savings do grow

Yesterday, we went on the bus for a couple of hours out and wondered into a lovely store with os service. We have never been there as we are still exploring our `new` surroundings. What a lovely find, a brilliant range of goods from good cheaper ones to top of the range. We bought a top of the range ultra modern and thin 46" 3d tv which has wireless and apps. Lol what a change from using an aldi one for many years. I have found a worthy home for the old one, a young lady who dd knows, who cannot afford a tv. So feel-good factor is now well and truly in place, luxury for us, supporting the local store and giving to someone

While in that area we went into the huge shopping outlet and I bought enough clothes for winter but why not when really good quality jumpers were reduced from £89 to £19, same for skirts and I happened to be there at the right time. All in a well known rugged, country, brand. I saw my size and I had them, 4 jumpers all different designs and several warm skirts, all down to my ankes

Cluster flies appeared in 2 window frames last week, so we are getting more top of the range pull down fly screens for the remaining 6 windows on the north side. We already have them in the very sunny back as we are surrounded by orchards and had quite a few wasps last year. Now the cluster flies appeared as the nearby field was ploughed. So deposit paid

Everything paid by credit card for insurance but all paid off last night. I deal in stocks and shares for dh`s sipp and have other `contacts` so know that we are on the economic turn (albeit a bumpy ride to come). Our net energy bill is zero, due to living in an eco house (nice one but not pretentious) so excess from our pensions would only have gone into savings at almost zero rates and what is the point when inflation is 5%+. Cheaper now to spend and enjoy :) while we can
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Replies

  • firesidemaidfiresidemaid Forumite
    2.1K Posts
    Bake Off Boss!
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    my only os thought was 'did you check what the best price of the tv was online and try at least to haggle a little or get something free'?;)
  • I don't blame you spending,you can't take it with you.
    I'm starting to come round to that way of thinking myself to be honest.
  • renegaderenegade Forumite
    1.3K Posts
    I used to worry about using money from my little nest egg.
    Now I think..what the hell,I have earned it so I may as well spend it. If I am cold I put the heating on and I will now turn up the thermostat if I need to.
    If I see something I need ,I go and buy it and not save up for it.
    My food cupboards,freezers and fridge are well stocked so I don't have to worry about feeding myself in the long winter months.
    I now do not worry about money at all, as has been said previously, you can't take it with you when you go!
    You live..You learn.:)
  • So you should enjoy it after all you cannot take it with you and why else work the majority of your adult life only to scrimp and save in the latter years especialy if you have a choice not to do so.
  • [Deleted User][Deleted User] Forumite
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    MoneySaving Newbie
    my only os thought was 'did you check what the best price of the tv was online and try at least to haggle a little or get something free'?;)

    There was already money off it and yes I do shop around a LOT via the internet but you cannot beat the sort of service I had in that shop. It will pay off supporting them when I am old and cannot do things for myself. They were so very helpful. I have decided that I am getting my next washing machine from them, not yet but when my cheap one starts to grumble. Top of the range miele coming up (one day) :)
  • [Deleted User][Deleted User] Forumite
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    10,000 Posts I've been Money Tipped!
    MoneySaving Newbie
    I can see where your coming from but my OS is so ingrained in me I think that I would just think that buying a top of the range t.v. a bit of a waste for me as I'm not a great t.v. watcher I'm trying to think of anything I could buy that would warrant me splashing out and I can't honestly think of anything I do treat my daughters and grandchildren I suppose but they in turn are very good to me and if I need anything doing one of the grandchildren or my son-in-laws or Dds will always help out.But why not treat yourself if you feel like it Your probably a bit like me and have saved for most of your life My last treat to myself was a 'kindle' about two years ago which I do use but most of my stuff still has years left in it
  • marybmaryb Forumite
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    Part of the Furniture 1,000 Posts Combo Breaker
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    We've tried to buy things that we may not have the spare cash for once my husband retires when we will be living off our savings until pensions kick in. We know we will have to replace various appliances and would rather do it while we can afford a well made (usually German engineered) one rather than having to buy something cheaper if we leave it. But we are not in a rush just yet and can look out for good deals etc.

    One thing I am tempted to do is get solar panels - PV as well as thermal. When you are at our stage in life, and assuming you don't intend to move, the usual payback calculation doesn't really apply. The way I look at it is, we would have to buy an annuity if we didn't take a lump sum from our pensions. That annuity would be taxable and wouldn't be index linked (because index linking is not usually good value). Whereas if we put the lump sum into solar panels it will generate a small amount of income (depending on what they do with the feed-in tariffs) but more importantly, it reduces the amount of taxable income we need to pay bills and therefore has built in index linking.

    The only thing stopping me is that we don't yet know where our two DDs will end up living when they get their careers established. I would be prepared to move house to be near them so that we can all help each other - I don't see how they will be able to save for their own retirement if they have huge student debts and huge childcare costs as well, assuming they have families of their own in due course. I may not be able to do all the childcare but I can help with school drop offs and pick ups etc. I tell them to try and live as close to each other as they can because it's really hard doing everything without being able to call on your family for help.
    It doesn't matter if you are a glass half full or half empty sort of person. Keep it topped up! Cheers!
  • dreamingdreaming Forumite
    1K Posts
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    I too have started to spend recently. I always had a "contingency" fund which just sat there earning very little interest but was my security blanket. Well, recently got told that my department at work may be relocated to different part of country in the next 2-3years, and as I will be heading towards 60 by then I probably won't want to go so may get redundancy package. Had a bit of a think and decided to spend the savings on a) getting house as I want it (house is in good condition but there were just a few things that will make it work better for me); b) paying extra on mortgage to pay off as soon as possible. This means that any redundancy should be enough to finish off the mortgage and then to live on for a couple of years if I can't find a part-time job.
    So far have had the kitchen re-arranged (using existing units so quite cheap) to fit in dishwasher and more space for table/chairs; new flooring throughout (engineered wood so should last); cavity wall insulation. Next job is to change bathroom into shower room as I already have difficulty climbing in and out of bath to shower; looking at PV solar panels; will look to change car in next year to smaller model.
    So I am doing all I can to save money (changing utilities/growing more/shopping around) but am also spending, or saving to spend, as well. Most of the time I feel quite upbeat about the future but every now and then I get a bit scared - more so for my kids who are both struggling but fortunately have very little debt.
  • I've recently retired, and it is amazing how little money OH and I need to live a happy and fulfilling life when there is no debt and no mortgage. I don't particularly try to save, but always end up about £300 each month, on a very modest pension income.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • donny-galdonny-gal Forumite
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    maryb wrote: »
    We've tried to buy things that we may not have the spare cash for once my husband retires when we will be living off our savings until pensions kick in. We know we will have to replace various appliances and would rather do it while we can afford a well made (usually German engineered) one rather than having to buy something cheaper if we leave it. But we are not in a rush just yet and can look out for good deals etc.

    One thing I am tempted to do is get solar panels

    We also had considered solar panels, but it is a 25 year pay back, and that would take us to 85/87 respectively. Again we have a child who is already working away, but no grandchildren yet, and we would consider moving closer should that time arrive. However, he is career driven, and could end up in another country, so will not make that decision until then. We did apply for the free solar panels, but we were a couple of degrees off the optimum they consider, that said, we get more sun on our roof, than next door who did get them. If you are going for them you should do so before April next year whe the Government is going to review the payback rate for new installations.

    DG
    Member #8 of the SKI-ers Club
    Why is it I have less time now I am retired then when I worked?
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