Slave to saving

Primrose

i think the issue of "how much money is enough." Is a very valid one to debate, especially as people go into retirement and grow older.
The one irrefutable fact is that none of us know how long we are going to live. if we did, we could divide our savings by the number of years left and then work out how much we could spend annually, going out on our last buck!

But life isn,t that simple. Parents want to leave something for their children, and anybody who has ever had to put a family member into a care home will know the horrific costs involved which can eradicate the savings of an even comfortably off person in a couple of years.

So in my book, "enough" is a very moveable sum and perhaps never quite sufficient, depending on your time of life and the state of your health. At the age of 90 my grandmother, who knew a lot of poverty and hardship in her earlier life, was still saving up "for her old age". I suspect there are probably quite a few of us of the same mindset.

Stubod

..a very interesting thread...and so many people in the same boat / plane / car. I feel the same...saved all my life, and have difficulty in "spending"..keep setting targets so that when they are reached "i can spend like a loon...", but in reality if it is in your nature to save then I guess you are stuck like that. I suppose its all about the feeling of wanting to be financially secure "for ever".

To try and make things easier, I set up a separate "free money" account. ie this does not appear in any spreadsheets or budgets, and is a home for any "excess" money you may get..or if you earn £1100, you may choose to declare £1000 for your home accounts, and stuff the extra £100 into your "free money" account. You can then still watch your savings grow, but spend this "surplus" money on anything that takes your fancy.....works for me if you don't think about it too much...

BucksLady

DoctorW wrote: »

My personal opinion is that getting married at all is pretty mental but I hope you have a great day and don't let it bother you or throw you off the tracks of your disciplined saving mentality!

D

Not sure what is 'mental' about getting married....there are certainly financial benefits in doing so:D

MadMat

Stubod wrote: »

To try and make things easier, I set up a separate "free money" account. ie this does not appear in any spreadsheets or budgets, and is a home for any "excess" money you may get..or if you earn £1100, you may choose to declare £1000 for your home accounts, and stuff the extra £100 into your "free money" account. You can then still watch your savings grow, but spend this "surplus" money on anything that takes your fancy.....works for me if you don't think about it too much...

Interesting, I do a similar thing, I'm a taxi driver, and keep my tips separate from my “real“ money. I'm allowed to spend the tips money however I want without justifying it to either myself of my wife . Most of it goes in the local fishing tackle shops . . . . .

However I'm coming at this from a different angle from most, I was something of a financial nightmare until recently, and am a convert to the saving way or life !

Mat

Niv

Niv wrote: »

I am also a little trapped to saving. I have recently agreed to go on holiday next year and am already fretting about my savings going down!

Well its happened! At the weekend I was dragged kicking and screaming to the travel agents where I agreed to listen to prices...Mexico is now booked for next year !!!! I feel faint

delmar39

Great thread and very interesting subject area! As mentioned previously on this thread I save a lot even though I have a partner in a secure job (as secure as things can be in the current climate) earning decent money. Sometimes I think I should be spending money, but do follow the MSE do you need it, can you afford it, can you get it cheaper elsewhere guidance. This is boring for some people, my OH just says "yes" to the first question most of the time (!), but better to be focused on saving rather than wracking up debt. Just a case of getting the balance right.

money_maker_2

Niv wrote: »

Well its happened! At the weekend I was dragged kicking and screaming to the travel agents where I agreed to listen to prices...Mexico is now booked for next year !!!! I feel faint

Good for you. I always wanted to go exploring around the world but so far have only been to spain and france!

I sometimes regret buying my house so early on when all my friends where out spending on holidays etc. Seeing all my friends facebook updates about how another holiday has been booked and seeing all their pictures uploaded does make me feel a little

All I have to look forward to is another mortgage payment made lol

I keep telling myself that once I'm mortgage free I can then save up and do all the travelling I want but who knows. Thats ages away anyway. As long as I don't find some other excuse to not part with the cash then!

Niv

money_maker wrote: »

Good for you. I always wanted to go exploring around the world but so far have only been to spain and france!

I sometimes regret buying my house so early on when all my friends where out spending on holidays etc. Seeing all my friends facebook updates about how another holiday has been booked and seeing all their pictures uploaded does make me feel a little

All I have to look forward to is another mortgage payment made lol

I keep telling myself that once I'm mortgage free I can then save up and do all the travelling I want but who knows. Thats ages away anyway. As long as I don't find some other excuse to not part with the cash then!

I totally understand regarding your friends going on holiday and you wishing you could go too. BUT don't underestimate buying your home, that sort of stability is second to none in my book, as long as its affordable and you are not fighting negative equity ofc! You can pick up holidays quite cheap too - city breaks are good as they are basically long weekends and there is often lots to see and do - apparently booking city breaks early is the way to get the best deal (where last minute on package deals can be the cheapest).

robotrobo

xylophone wrote: »

No pockets in shrouds?:)

Quite right,but I'm haveing a stainless steel roof rack fitted to the lid on top of the coffin,so it won't rust.
I'm taking mine with me!.:rotfl:

granvilleclutterbuck

Have to say, find this a very reassuring "ahhh, so its not just me" thread.

I cringe about the money i wasted on credit cards years ago, and after paying them off, have been very different. Also cringe thinking about the amount of food i used to waste every week that i could have made something with.

Financially im already quite comfortable, but think i see more value in things than i ever used to.

It's amazing how just watching numbers go up in my savings account can make me feel so damn good!

And free of charge to look at! :rotfl: