Deleted post

N1AK

adam81 wrote: »

I thought I was doing well saving (pensions/investments)37% of my net salary but seeing some peoples figures makes me wonder where I waste my money.

I know I don't waste much at all but still..

Why is it wasted money? If someone is saving 50%+ of what they earn with no reasonable expectation of ever needing most of that money then perhaps you should see it as them wasting their time?

We're probably at something, that seems to be to be, ridiculous like 65% net into savings currently (primarily because I'm milking the 40% tax relief on pensions for all I can while it's available), but have absolutely no intention of maintaining that kind of ratio long term; if someone in this situation did I would consider them to have a negative habit (like someone who hordes things regardless of need or inconvenience).

maxie014

I know a couple of folk who have scrimped and saved for years,they have never enjoyed their money one bit,one of them goes out for two pints once a week with the exact money so he cant spend any more! his teeth are terrible as he wont pay for a dentist.
He has no kids and is not married,yet still continues to be a miser,i dont know who is going to benefit from this savings,certainly not him.
My outlook is save and spend a bit,im never going to be a rich man due to my earning capabilities,i could have spent the last 20 years working a lot of overtime but kept it to a smaller amount and enjoyed my time instead.
Youve got to be prepared to spend a bit i think,or you get to retirement with a big cash pot that your scared to spend.
Adam81 your kids will always remember the holidays so money well spent there i say,i always gave my three a good holiday each year they loved every one.

kidmugsy

To refuse to spend on dentistry suggests that the bloke is a bit bonkers, and therefore not much of a guide for anyone, poor soul.

Eco_Miser

adam81 wrote: »

I'm careful but I maintain I have a balance, even if people call me tight, but holidays regardless are the reason I go to work after the warmth and roof.

That's your choice, and probably a good one, but it's where you're wasting money compared to those who don't spend so much on holidays.

lawriejones1

diamonds wrote: »

This is so true, but for some of us to buy to have cheaper housing costs its belts tight knowing springtime comes with a mortgage and a free up of some luxury cash


The right property and mortgage makes you monthly richer not poorer in many ways

Absolutely agree! My own sense of fiscal prudence came when my partner and I bought a house. Dutifully saving and all that came as a result of a big purchase. Mind you, it was only 2 x earnings, so not a huge risk.

I always buy quality as cheaply as possible. That's the trick. And I love a bargain. A 50p CD in a charity shop can give me more pleasure than spending a few hundred on a new computer or bit of tech for my business.