cost of item vs hours worked for it

dktreesea

Eco_Miser wrote: »

I'm hoarding the money for myself. I have a reasonable expectation of being around for another 30years, 40 years would be pushing it, but possible.

This doesn't stop me keeping warm, eating what I like (other considerations do that ), or generally enjoying myself, but I'm not going to waste money on overpriced stuff I don't need.

I find it's not so much stuff that the older people in my life don't buy; it's experiences. Things like feeling it's a waste "at their age" to go on holiday somewhere, sign up for art classes, turning the heating down too far at night. One of them tells me the cold wakes them up then when I suggest they leave the heating on, if only on low, through the night, they make comments like "there speaks she who lives in a house with no central heating". But then, I'm a fair way off retirement, let alone my mid eighties.

Dan83

I understand what you are all saying, but I work to enjoy life, if I, my partner or my child wants it, it normally happens or gets bought.

Where would I rather spend my time? Sat in a pub watching football with my mates getting drunk or sat bored in a cold house because I don't want to watch the telly or put the heating on because I don't think it's worth spending my money.

Last summer we went for a day out and rented a boat, it was £30 per hour, yeah rip off I know, but we all enjoyed it so was money well spent in my opinion

Reckless_Saving

I do the same, getting to work each day already knowing I've got to work my first hour to pay for it. I do cringed when it comes to buying a round of drinks - 3 hours work!! - luckily this is rare and usually I keep out of them (not a drinker).

I find it very powerful when I buy things to keep me from needlessly buying what I wouldn't use. For example a mobile phone, I see it's value in my life for it's apps, calender, email but it's very rare I use it make calls, so for me buying a phone and going payg is best for me. On the phone I personal considered that £10 per month (1hr work )was the worth of the value I'd get out of it's use and I'd expect the phone to be usable for 2-3years. That's put my budget at £200-300 for the phone, that put the £600 iphone out of reach and I settled for a decent android phone from the Nexus range. Not a rule of thumb though, I've broken the rule to slightly go out of the range when I believe I'll get more use out of it than it's value.

maxie014

Youve got to remember some of these old folk have came through hard times and never had the cash to waste,access to credit we have today.
Saying that some of them i know are just downright tight fisted,a fella i used to work with was getting a new 3 piece suite just before retirement,hed had the old one since he got married 35 years previous ,and it was second hand then! thats what you call frugal.

racing_blue

Not saying I don't do it, but isn't there maybe something demeaning about thinking of your work - one of the significant outputs of your short time on this planet- in terms of how many lattes or shoes it will buy you?

I prefer to draw up an annual earning plan and a spending plan. If we thought purely in terms of the hour for hour transaction we'd probably never go on decent holidays, and I love holidays!

[Deleted User]

joeblags wrote: »

this item costs £ 15. that's one hours wage

Don't forget to gross up to pre-income tax and NI, lost tax credits etc... a £15 item might cost you £20 of wage or more.

colsten

badger09 wrote: »

Despite having my 'main' account with Co-operative Bank for over 40 years, and already meeting the monthly funding & log in requirements, I decided I simply CBA chasing another £4 per month:o

Surely, if it's your main account, collecting the £4 isn't a 'chase'? £4 x 12 = 48, a couple of decent bottles of champagne for Xmas or your birthday?

jimjames

maxie014 wrote: »

Youve got to remember some of these old folk have came through hard times and never had the cash to waste,access to credit we have today.
Saying that some of them i know are just downright tight fisted,a fella i used to work with was getting a new 3 piece suite just before retirement,hed had the old one since he got married 35 years previous ,and it was second hand then! thats what you call frugal.

We were given a sofa suite when we moved into our first house 20 years ago. Then with kids it didn't seem worth buying a new one until they were older. So a sofa that was already 15 years old when we got it lasted another 20 before replacement. Not sure how much is tight and how much is not wanting to throw something away that is still perfectly usable.

Kendall80

maxie014 wrote: »

a fella i used to work with was getting a new 3 piece suite just before retirement,hed had the old one since he got married 35 years previous ,and it was second hand then! thats what you call frugal.

My wife still goes on about the old bed we sleep in. It was in the furnished house we rented when we first got together all of 20 years ago. We were given it when we left and have had it ever since. My thinking is... it works - why replace it? We have of course replaced the mattress - i'm not a Neanderthal!

Eco_Miser

maxie014 wrote: »

Youve got to remember some of these old folk have came through hard times and never had the cash to waste,access to credit we have today.

Not so much no access to credit, as not wanting to owe anything to anyone.

maxie014 wrote: »

Saying that some of them i know are just downright tight fisted,a fella i used to work with was getting a new 3 piece suite just before retirement,hed had the old one since he got married 35 years previous ,and it was second hand then! thats what you call frugal.

If you go round a stately home, you'll see furniture much older than that, still in use. Good quality stuff just doesn't wear out (and the bits that do can be re-covered).