Surrounded by "Big spenders"

lisyloo

Deferred gratification can be used to mask a fear of failure or even just laziness - it's easier to daydream about the future.

It can be an issue yes - inaction.
In my experience wanting things now i.e. immediate gratification is a much bigger problem. The personal debt figure would back that up.

there seems to be an attitude there's something wrong with accumulating money for it's own sake

It depends what you are sacrificing to do that.
For you that might be absolutely nothing which is fine.
But for those on median incomes of £27K outside of London then it's usually a choice at some level.

N1AK

wotsthat wrote: »

The other thing I'd note from this thread is that there seems to be an attitude there's something wrong with accumulating money for it's own sake. I don't - it's something I enjoy and if I drop dead tomorrow I wouldn't think it a waste at all.

There's nothing 'wrong' with it, some people get a lot of satisfaction from it; it's a hobby in itself for others. As long as what they aren't doing with the money is worth less to them than having the money, and there isn't a serious mental health issue (starving oneself to death while having millions in the bank), why not.

Personally I'm careful with money now because:

1. being financially secure will avoid money based issues in our marriage
2. being financially secure is nice generally
3. I want to be comfortable for life

We've considerably increased spending on holidays over the last couple of years because both of us really enjoy them, and we know our long term finances are on track :beer: for us the additional £10k we could have if we've not done this has less value.

quantic

There does seem to be a very fine line between living frugally and being too tight. Luckily I genuinely don't like having a lot of material items, I prefer to buy very high quality things but not often. Don't get me wrong I'm not going to any extremes, I just try to save an agreed amount each month - we do occasionally have a splurge every now and again. We went to the Maldives last year which was awesome.

I think it helps that a lot of the things I enjoy, walking the dog, mountain biking, going to the coast etc are mostly free. Even if I was a millionaire I would do the same. I think there is something very satisfying about being frugal and self reliant.

lisyloo

Money buys you freedom, security and options.
You can pay people to do pretty much anything.
Options not to do the cleaning.
The option of taking voluntary redundancy and doing something else, starting a business perhaps.
For me freedom is very important and I value that above material things like a nice car.
I don't have any issues compromising with other though.

quantic

You're all right of course with what your saying about options and security etc I know its worth it deep down..

I work in an extremely corporate environment which possibly gives me a skewed perception and maybe why I even started this thread to begin with, meetings and events are a sea of Mulberry bags, expensive watches and BMW/AUDIs parked outside - most of the time I don't even really care but sometimes I do wish they would give it a rest and just appreciate the smaller things or at least keep those things to themselves.

I guess the same goes for religion really, I have no prejudice, have any faith you want - just don't rub it in my face.

N1AK

quantic wrote: »

There does seem to be a very fine line between living frugally and being too tight.

A fine, yet very hard to fine, and people seem to have different opinions on where to look! One of the benefits of being financially secure is that even though most people will differ to some extent on where that line is, if you have stable finances the difference isn't as important.

I prefer to buy very high quality things but not often. Don't get me wrong I'm not going to any extremes, I just try to save an agreed amount each month - we do occasionally have a splurge every now and again. We went to the Maldives last year which was awesome.

quantic wrote: »

I think it helps that a lot of the things I enjoy, walking the dog, mountain biking, going to the coast etc are mostly free. Even if I was a millionaire I would do the same. I think there is something very satisfying about being frugal and self reliant.

A great situation to be in. I know I'd be spending considerably more if I earned, and had, considerably more money. I don't need a 5 bed detached with a double garage, and I don't need a cleaner 3 days a week; but if I suddenly woke up with a £10 million inheritance then I'd certainly have both because at that point the benefits are worth more to me than the money I was giving up to have them.

kabayiri

It might surprise people if they realised just how many jobs rely on the spenders in society.

Look at the oft-derided benefits street crew, or just the general masses who live in major estates up and down the land.

The bookies need them to go in and bet; they buy fags and papers from the newsagent; tattoos are still in fashion it seem; at least a few boozers still manage to remain open; sky tv still seems popular; they still buy new and 2nd hand goods from the likes of brighthouse and Game etc.

Much of this is discretionary spend. If it stopped tomorrow thousands and thousands of workers in retail and leisure would be picking up their P45s by the end of the month.

But then...set against this...the spectre of debt hangs large over many.

Can there be a happy medium/balance point; and where is it important for that balance point to be positioned in the current economy?

Moby

quantic wrote: »

You're all right of course with what your saying about options and security etc I know its worth it deep down..

I work in an extremely corporate environment which possibly gives me a skewed perception and maybe why I even started this thread to begin with, meetings and events are a sea of Mulberry bags, expensive watches and BMW/AUDIs parked outside - most of the time I don't even really care but sometimes I do wish they would give it a rest and just appreciate the smaller things or at least keep those things to themselves.

I guess the same goes for religion really, I have no prejudice, have any faith you want - just don't rub it in my face.

I've changed as I've grown older. The things I placed value in when young I no longer place value in. When young I had a flash car and spent money on things I would never spend on now, (like going to a premiership football game or clubbing). The one thing I regret is that I wasn't more careful with money when younger because money put away in a pension or savings when young has more time to compound. I sometimes wish I'd had someone who was wise and experienced who could have sat me down when I was 20 and said this. Of course I was a different person then with different motives/values so I shouldn't be too hard on myself and I may not have listened.

I do find it hard to understand how value could be placed in a mulberry bag or a flash watch. My money in recent years has been spent on travel, my home or in securing my retirement. I suppose we are all different.

C_Mababejive

I_have_spoken wrote: »

With interest rates a rock-bottom and likely to remain so for years, why not live a little? Debt/leverage is perfectly rational at the moment

There's no pockets in shrouds!

I agree,,get in there and get some low interest debt. Lock it in before interest rates rise.

missyrichards

Moby wrote: »

The one thing I regret is that I wasn't more careful with money when younger because money put away in a pension or savings when young has more time to compound. I sometimes wish I'd had someone who was wise and experienced who could have sat me down when I was 20 and said this.

Yes, same here.:(