What is 'being MSE'

UKGuy

Conrad wrote: »

Being MSE = lustily shopping around for best value regardless of the impact on workers and then later in political mode pretending you want workers tret fairly.

Also working for a letting agency that lets houses and flats to people on benefits which enables the company to make money and then coming on here to whinge about people on benefits! :whistle:

tomwakefield

JimmyTheWig wrote: »

It just means being MoneySaving.
So having a takeaway when you could have cooked at home isn't very MSE. The money spent could have been put to better use paying off debts / building up an emergency fund / paying into a pension / paying off mortgage / etc.
See Martin's Money Mantras (http://blog.moneysavingexpert.com/2010/10/12/money-mantras-never-leave-home-without-them/).
It sounds like you aren't skint, so the big question when buying something is "Is it worth it?". The question is "is it worth getting a takeaway, or would I rather cook now and bring my retirement forward by two hours?".
If there is no better use for that money than a takeaway (or whatever it is you are buying that some think isn't MSE) then that _is_ MSE. If there is any better use then, technically, is isn't MSE.

I don't think that being MSE is just spending as little as possible. For me, it's about purchasing what I want and getting as good deal as possible (although obviously I don't just buy everything I want as I also prefer to have a savings buffer).

As an example: I have a PS2, but I'm considering upgrading to a PS3. It's by no stretch of the imagination essential, but if and when I do buy it, I will have a look around at how much they are going for, different bundles etc to try and get the most from my money.

Is that MSE or not?

RazWaz

For me, being MSE is about getting the costs of living (food, utilities ect) to maximise how much disposable income I have, so that I can spend the rest on things for myself.

Taking the bus is painful so it's a really comforting thought to know you can always afford the taxi to wherever you need to go, that you can buy the kit for the latest craft project you want to do. I love video games and knowing I can get new consoles when I want rather then when I can afford it is my ultimate luxury.

I have always believed that you should work just enough in order to live the lifestyle that you are comfortable with, no more, no less. Work is a way to get what you need to live, not a life in itself.

Currently my £17k income (living alone - no kids, 1 kitten) is enough to provide that, but when I do have a family I will need to work more in order to afford the life I want for my children too.

If you feel you are stopping yourself from spending money on things you will really enjoy, then I believe you need to go through your finances again and figure out how to turn your income into access for enjoyment, you only get one life, happiness and satisfaction for you and your family should be your priority.

Vejovis

Conrad wrote: »

Being MSE = lustily shopping around for best value regardless of the impact on workers and then later in political mode pretending you want workers tret fairly.

Yes indeed, but shopping around and buying cheap you are keeping someone in a job. Someone who maybe the only wage earner in the house, and the only thing standing between the family eating or starving because there's no generous benefits system. Or someone who maybe forced into the sex trade if people stopped buying the clothes their factory makes.

Back to the OP, being MSE is getting the best value for money, not falling for cons like the new Hotpoint washer with 'stain remover cycle' which costs and extra £xxx. Washing machines my definition are stain removers :doh:

I think having the odd takeaway is the smallest of the none MSE vices. Buying an iPad just because you fancy one, and buying it on credit would be one of the bigger ones.

Quasar

I am so MSE on certain things (cooking from scratch, making good quality clothes last longer etc), and so un-MSE in others (buying expensive organic food).

It does depend on one's motivations: being mse because money is really tight and making the most of every single penny is of paramount importance, or being mse in some things in order to have more money for others. Or any shade in between these.

This site tells people how to save every which way, but then it's up to people to use the information or not use it at all.

evenasus

Wasting the banks time to open multiple bank accounts which you never use, to get benefits worth a negligible amount each month.
I've never and never would be bothered with doing that.

Obsessing over your credit score.
I've never checked my credit score.

Trying to think up ways you might have been mis sold any financial product in the last 30 years, in order to get compensation, and failing, because you weren't mis sold at all.
Never taken out credit - unless a mortgage (paid off) counts.

Being apologetic about spending anything on something that isn't a complete necessity for survival, even if you can afford it.
I buy something if I want it.

Oh dear, looks like I wouldn't be considered MSE then.

Although I do try to get the best savings interest rates. Meaning bonds & fixed term savings accounts.

JimmyTheWig

tomwakefield wrote: »

I don't think that being MSE is just spending as little as possible. For me, it's about purchasing what I want and getting as good deal as possible (although obviously I don't just buy everything I want as I also prefer to have a savings buffer).

As an example: I have a PS2, but I'm considering upgrading to a PS3. It's by no stretch of the imagination essential, but if and when I do buy it, I will have a look around at how much they are going for, different bundles etc to try and get the most from my money.

Is that MSE or not?

I'll link again to the mantras: http://blog.moneysavingexpert.com/2010/10/12/money-mantras-never-leave-home-without-them/.
You are not skint (from what you've said), so you are on the right-hand-side. The "Do I need it?" question doesn't apply to you, so the fact that it isn't an essential doesn't come in to it.

Will you use it? I think it's clear from what you've said that the answer is yes.
Have you checked if it is cheaper anywhere else? You've said you will.

But you haven't really touched on the middle question: "Is it worth it?". Unless you can answer "yes" to that question, it isn't MSE regardless of how good a deal you get on it.
Lets say you spend £100 on it. What would you do with that £100 if you didn't buy it?
You might use it to help pay off your mortgage earlier. You might spend it on takeaways. You might donate it to charity (which would give you a warm, happy feeling). You might spend it on PS2 games. You might pay it into your pension.
There is no general right or wrong answer, just what is right for you. If one of those other things would give you more pleasure than a PS3 then buying a PS3 wouldn't be MSE. If the PS3 would give you the most pleasure with your £100 (and you'll use it and you've checked your getting the best deal) then it is MSE.

Conrad

evenasus wrote: »

Although I do try to get the best savings interest rates. Meaning bonds & fixed term savings accounts.

Would it bother you if these funds invested in the large non tax paying corporations?

I ask this because many a shrill highly superior poster on here bemoans tax avoidance.

Goldiegirl

itch_for_a_glitch wrote: »

Fish & chips isnt MSE you can do it cheaper at home.

If you can afford to consider a Beefeater (YUK) fish and chips is MSE, but not as MSE as cooking at home IYSWIM.

I do fish and chips at home, but for me, nothing can beat the taste of a chip shop chip.

If takeaway fish and chips aren't MSE, does MSE mean that you can't treat yourself from time to time?

For me, the cheaper option isn't always the option I take. My fish and chips might be cheaper to do at home, but for the pleasure I will get from the chip shop takeaway makes the expenditure worthwhile. The chip shop a couple of miles away might sell chips 10p a portion cheaper, but I can walk to my local chippy making it far more convenient, and saving on petrol

With larger purchases, as Jimmy the Wig says, I think for a while about will I use it, I'll research what's out there, and if I decide to proceed, I'll go ahead and make my purchase. Maybe I won't pick the cheapest deal, but I'll pick the deal that I'm most comfortable with, from a retailer that I'm happy with - that will be the best deal for me.

Then I will proceed to enjoy my purchase. I've rarely regretted major purchases, because I've tended to think for a while first, rather than rush in.

Me and my husband have worked for years, and we are in a lucky position healthwise to enjoy the fruits of our labour.

I don't think MSE is about a joyless existence or about obsessive scrimping when you don't need to, or about making over the top efforts to save a couple of pence.

For me it's about helping me get the most out of my life.

I've been really interested to read the comments so far - a lot tie in with my version of MSE.

[Deleted User]

Goldiegirl wrote: »

I've been a MSE member for just over 6 months, and in that time I've enjoyed the community part of the forum, got myself some advice, and hopefully made a few helpful suggestions based on a lifetime working in the financial sector, and just a lifetime of living.

My main financial driver is to make the most of the money that I have to enjoy life now and to prepare for an early retirement in about 3 years time.

However, I often see the the phrase 'it's not exactly MSE', usually deployed when someone spends some money.

After further research I'm led to believe that being MSE involves

Wasting the banks time to open multiple bank accounts which you never use, to get benefits worth a negligible amount each month.

Obsessing over your credit score.

Trying to think up ways you might have been mis sold any financial product in the last 30 years, in order to get compensation, and failing, because you weren't mis sold at all.

Being apologetic about spending anything on something that isn't a complete necessity for survival, even if you can afford it.

If that's what 'being MSE' is all about, then I'm so not MSE!


What do you feel is 'being MSE' ?

I think mse and ML have alot to answer for by encouraging all these people who were "mis-sold" this that and the other to make spurious claims,after all who do they/does he think foots the bill?...yup mse members via increased credit costs etc