Do you get frustrated at people throwing money down the drain?

duchy

I agree about judgemental - however I'd also feel if an relative was genuinely wanting to give me advice they'd actually have a chat with me rather than just send me an email link reeking of disapproval.

I do think the point about time rich and cash poor (or vice versa) is a good one. In an ideal world we'd all have the time -and energy -and mobility to visit several shops and get the best prices but often people don't because they are working or a long time out shopping means no energy when they do get home. As always "best value" isn't always about the physical cash we save if it is at the expense of health or ability to do other normal stuff. Like anything in life-balance is important.
I do think it's lovely you want to help out your daughter and her family but nowdays four children is a lot-There is an argument that if they had stopped at two children then you all would have things a bit easier -in a way it's a bit like the new car issue. We all make choices - and those choices come with differing costs and what is right for one person wouldn't be right for another.
I had one child and decided not to have a second as I couldn't guarantee I could afford to give them what I felt was appropriate without help. Right decision for me and my family -but it may not have been the right decisiion for someone else. I wouldn't have wanted my Mum to scrimp and save for me as a grown up it's my responsibility to provide -and for her to enjoy her money on herself. I'm sure though you get tremendous pleasure out of that holiday with your family so for you it's the right thing - for you

SailorSam

I know a couple of people who no matter how much money they had it would be fluttered away. What they do is up to themselves so it's not so much that i get frustrated about it but, it i get peed off when they come around moaning 'cos they've got debts that they can't manage.

Chrisblue1962

Errata wrote: »

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BobQ

cepheus wrote: »

A close relative recently came into a modest inheritance which although not life changing is far more than he has ever had before. I suspect it's the first time he has had more than a few pennies to his name and he still works at probably around the minimum wage.

I somehow suspected this would be quickly wasted away. I tried not to become too involved, since he would probably ignore any advice, then use this as an excuse to come to me for potential future troubles.

He took out a finance agreement for a new car, in fact the company was so good to him they sent a driver on a 60 mile round trip to collect him because 'no-one could offer him such a great deal in the (poor) large town' where he lives. Does this ring alarm bells?

So in other words although he has more than enough to buy the same car outright and resell it at a later date far cheaper and with with money to spare, he has effectively taken out a loan to buy one, no doubt at a silly rate as part of a finance package. I also think they stung him for insurance and God knows what else.

Rather than get too involved I just sent his wife (he doesn't do internet) an Email on the latest rules on finance agreements along with the 14 day cooling off period. I guess this will be ignored, he may have taken out the agreement much earlier than he claims.

Difficult to say. We all have different attitudes to money. If he has never bought a new car before he might have just decided that he was going to treat himself. He many not be aware of all the dodges the dealers use but equally he may have got a discount from membership of some organisation (motoring club, union, employment, insurance firm etc) and reasoned that an interest free loan and putting the money in a savings account is the best he could do.

You might think that sending his wife an email is helping, they might view even that as none of your business however well intentioned you feel you are being.

If he is being wasteful maybe it just reflects his attitude to life.

OldBeanz

Having worked in a bank when I was younger it tended to be the people who did not look as if they had two pennies to rub together who frequently had more in their accounts than those who looked as if they did.
If anyone, bar my parents when I was growing up, ever gave me advice about how I should spend my money they would get a one word reply ending in off.

cepheus

Just an update on this. I found out a few days ago he has long since got rid of the car after discovering how much it was costing him. He says it didn't cost anything to get out of the agreement, but not sure I believe this, but glad he has ditched it all the same. In fact for various reasons he doesn't need to drive much now, so a waste of time having a newish car IMO.

He's now after buying a much cheaper car outright from a dealer.

janiebquick

cepheus wrote: »

A close relative recently came into a modest inheritance which although not life changing is far more than he has ever had before. I suspect it's the first time he has had more than a few pennies to his name and he still works at probably around the minimum wage.

I somehow suspected this would be quickly wasted away. I tried not to become too involved, since he would probably ignore any advice, then use this as an excuse to come to me for potential future troubles.

He took out a finance agreement for a new car, in fact the company was so good to him they sent a driver on a 60 mile round trip to collect him because 'no-one could offer him such a great deal in the (poor) large town' where he lives. Does this ring alarm bells?

So in other words although he has more than enough to buy the same car outright and resell it at a later date far cheaper and with with money to spare, he has effectively taken out a loan to buy one, no doubt at a silly rate as part of a finance package. I also think they stung him for insurance and God knows what else.

Rather than get too involved I just sent his wife (he doesn't do internet) an Email on the latest rules on finance agreements along with the 14 day cooling off period. I guess this will be ignored, he may have taken out the agreement much earlier than he claims.

In answer to your question, yes, I do get frustrated by people throwing their money down the drain. However, I get even more frustrated by the number of busybodies on here thinking they have a right to interfere with other peoples' lives. Does that ring any bells?

PennyForThem_2

without busybodies these threads wouldn't be so interesting.......

mgdavid

janiebquick wrote: »

In answer to your question, yes, I do get frustrated by people throwing their money down the drain. However, I get even more frustrated by the number of busybodies on here thinking they have a right to interfere with other peoples' lives. Does that ring any bells?

careful, the height of that pedestal is a safety hazard

borrowed

zygurat789 wrote: »

There's no such thing as a free lunch or 0% interest.

My current account pays 0%