Money sense?

maxie014

Has anyone always been sensible with their money,savings,investing,pensions etc?
Or is it something that has developed over time?

dividendhero

Check out "Delayed gratification" ....

Zorillo

Define sensible.

maxie014

Zorillo wrote: »

Define sensible.

From leaving school or further education say.Saved,invested,looked after their money instead of blasting it as a lot of people seem to do,ie flash cars,clothes,gambling,boozing etc

Alistair31

I’ve always been pretty good with money but only started investing and getting serious about things in the last year or so. I’m now 29 so probably 4 or 5 years later than I should have started.

trickydicky14

I think I must be hard wired when it comes to saving.
From the age of about six I would put half of my pocket money in to a post office savings account.
When I went to the big school I started selling sweets and biscuits to other kids to make money.
Most of my working life I would grab all the overtime that was going.
At eighteen I rented a house as a single chap and the landlord wanted to sell so I purchased it for £7000 knowing it would make me a good return in a few years and it did.
Every little thing that could make a few pounds was never too much bother.
What I cant understand is I did not learn this behaviour at home because no one in my family ever had two coins to rub together and have struggled most of the time to make ends meet.
Now retired I am learning how to spend money.

Fatbritabroad

I've always been sensible in terms of I had a pension before I had a house and bought my first place (shared ownership) aged 20. The rest of my money I always viewed as mine to spend as I wished until I discovered the FIRE movement probably 5 years ago. This led me to investing correctly (rather than gambling on individual shares) in to s and s isas and beginning to realise things like fancy cars just weren't important to me but travel and experiences were. I'm not interested in living like a hermit re early retirement extreme but being more intentional with my money to be abke to be financially free is massively appealing

enthusiasticsaver

maxie014 wrote: »

Has anyone always been sensible with their money,savings,investing,pensions etc?
Or is it something that has developed over time?

From relatively young I learnt to budget and do short term, medium term and long term savings and financial plans if that is what you call sensible. Therefore the only debt we had was the mortgage and initially a car loan in the early days. We overpaid into pensions from quite young too but did not get into investing until much later. Learnt much of my financial awareness from my dad.

Sea_Shell

I've always been a saver rather than a spender, even with Birthday money as a kid. I loved making small deposits and getting statements from my "kids" account. I've always loved "admin" in that sense...and stationary!!!

My early career was in and around the Financial Services industry (as was DH), so we've always paid into pensions since starting work. He's a real Squirrel too.

It's all paying off now, as we have reached FIRE, before 50. Yes, we might not have been on multiple long-haul holidays, or driven new German cars every 3 years, or worn designer clothes or had the latest tech gadgets, but that's been our choice, and one we don't regret.

No regrets, that's the key!!

cattie

I'm another one who seems to have good money sense practically from birth. My father encouraged saving & when I was saving for something particular, as a reward he would stump up a portion of the cost to enable me to get the item sooner than I'd expected.

When I got married my ex was awful with money & spent things like the electricity money we'd been putting away on expensive hi fi items he desired. So I used to save in secret & not let him know about my secret stash.

Good money sense helped me when we split up & he wasn't willing to pay the court ordered maintenance for me & our son & we got by reasonably well despite this.

Once I was able to go back to full time work I put as much as I could into AVCs & saved any excess in building society accounts & when PEPs were launched, it opened my eyes to investing in funds.

Despite being very comfortably off now, I still can't be gung ho with money & like to ensure I'm getting a good deal when it comes to buying anything.

jamei305

Sensible from age 5 to 16, reckless from 17 to 23, sensible from 24 onwards.