Watchwang, autowang... what are you saving for?

TheTracker

AutoWang? Surely you mean WangCar

nicknameless

TheTracker wrote: »

AutoWang? Surely you mean WangCar

sadly I had to read that 3 times

dementiawang

Radiantsoul

I would quite like a net worth of about £1million. It feels like a nice round sum.

N1AK

racing_blue wrote: »

Couple of threads recently about spending money on cars and watches.

Do you have a spending plan? A kind of saving and investment end game? Does this influence your saving rate and target?

Anyone else got a spending plan?

I have a plan but it mainly revolves around reaching a position where I am financially independent for life at a reasonable age. That said, I appreciate the value of many things that I could spend more on. My current car depreciates about £100pm vs the £75pm on my last one, as we're doing well vs our plan I may treat myself by getting one that depreciates £150pm next :eek:

For me, a big part of what moderates spending now is awareness that financial decisions now influence my situation in future decades. Once you're in a position where you're saving in a way that would allow you to live far more expensively in future than you are currently it might be worth considering if there's anything you'd appreciate spending a bit more on now.

Flobberchops

All these wangs being posted... for a moment I thought I was on a different forum...

bigadaj

Flobberchops wrote: »

All these wangs being posted... for a moment I thought I was on a different forum...

It's actually the Chinese post office.

Mrs_Z

Well, I hate wasting money so by nature I'm careful with what I spend it on. Any surplus goes towards mortgage overpayments, savings, investments. My dream is to retire from full time work in 7 years when I hit 55 (nice round number me thinks), whether that'll come true, we'll see. Still, at the same time, I also want to enjoy life a little bit... so I guess I could sum it up with my lifetime formula - when pay check hits the bank account: 30% to savings, 30% reserved for bills, 30% spending/fun money. If I happen to have any money left over of the fun money day before the pay day, it gets swept to the savings.

mp80

fair enough

savings_my_hobby

Prepare for future and hope for the best.

Pay for house, keep on top of all bills, always have a car on the road and if fortunate enough to be able to retire... do it comfortably.

and in that order.

enthusiasticsaver

I have a plan and the end goal is financial independence with enough money to do the things we want to do in retirement but enjoy ourselves along the way.


We budget for home improvements, savings for retirement, holidays, new car every 6 years roughly and meals out and replacing white goods, electronics etc. We decide on our priorities each year and cost it all out and work within a budget. Last year it was new conservatory furniture, replace car, gifts to our two daughters to help them with their expenses on their first homes and our new granddaughter and a holiday to Greece. This year it is holidays to Switzerland, Centre Parcs and Potterworld, a new TV and decorate our bedroom.