The art of spending money

GrubbyGirl_2

I am lucky and have a DB pension and haven't reached state pension age.  I have always been careful with my money and never had credit except for my mortgage which was paid off well before I retired.  I can thank my parents for that who bailed me out when I got into debt when I was in my early 20's.  It was a hard lesson for me as I had to move back home, they paid off my debts but in turn I had to hand over my salary every month and they just gave me back enough to live on until the debt was paid (that's what happens when your mother is an an accountant). It was drummed into me the philosophy that if you can't pay outright for something you can't have it.   Before I retired I had an excellent salary but before buying anything I still hunted for the best deal, tried to buy things in the sale and even stocked up on things on offer in the supermarket.  After 40 years of doing that it's become habit that has stayed with me.

The thing that struck me since I retired was the fact that was how much money you actually spend going to work.  After buying lunch every day, coffees a couple of times a day for me and other people, petrol, work clothes and even cars - I used to change my car every 3 years because I did a lot of mileage, now I can't justify changing a 4 year old car because it's only done 21k miles.  You just don't have these expenses when you retire and to be honest my lifestyle has not changed and I am still saving every month.  

As for hotels I've never spent a fortune on hotels simply because I don't spend much time in them if I'm away......just need a comfortable clean bed.  Premier Inn or Holiday Inn Express for me

Audaxer

Sea_Shell said:

It's funny what 'value' we put on what we get for our money.

We've stayed in a few 'fairly' expensive hotels, and TBH, on reflection, I wouldn't say that they were worth the extra over and above a Premier Inn, on balance.    We'd draw the line at Travelodge mind, unless we had no choice!

Yes, they may have had various things like a copper roll top bath in the room (why?), some fancy complimentary toiletries, room service tea/coffee (rather than a kettle etc in the room), which in reality just meant you had to wait 10 mins for a lukewarm drink to be brought up!!   Is that worth an extra £100+ per night?

Do they get better 'value' the MORE expensive you go?!?      

I also think Premier Inns are good value for overnight stays. When we do stay in Premier Inns, we usually go elsewhere for breakfast as I don't think the breakfasts you get in the associated restaurants, for the ones we go to anyway, have been good value. There are usually better options nearby for a better breakfast.

I don't think you necessarily get better value, the more expensive you go.  I'd rather have a nice clean room and a comfortable bed than a room with a copper roll top bath and fancy toiletries.

zagfles

Sea_Shell said:

It's funny what 'value' we put on what we get for our money.

We've stayed in a few 'fairly' expensive hotels, and TBH, on reflection, I wouldn't say that they were worth the extra over and above a Premier Inn, on balance.    We'd draw the line at Travelodge mind, unless we had no choice!

Yes, they may have had various things like a copper roll top bath in the room (why?), some fancy complimentary toiletries, room service tea/coffee (rather than a kettle etc in the room), which in reality just meant you had to wait 10 mins for a lukewarm drink to be brought up!!   Is that worth an extra £100+ per night?

Do they get better 'value' the MORE expensive you go?!?      

IME in general you get less value the more expensive you go, eg a product or service twice the price isn't generally twice as good. You often just get the same product or service with a bit of superficial fluff as above.

artyboy

Sea_Shell said:

It's funny what 'value' we put on what we get for our money.

We've stayed in a few 'fairly' expensive hotels, and TBH, on reflection, I wouldn't say that they were worth the extra over and above a Premier Inn, on balance.    We'd draw the line at Travelodge mind, unless we had no choice!

Yes, they may have had various things like a copper roll top bath in the room (why?), some fancy complimentary toiletries, room service tea/coffee (rather than a kettle etc in the room), which in reality just meant you had to wait 10 mins for a lukewarm drink to be brought up!!   Is that worth an extra £100+ per night?

Do they get better 'value' the MORE expensive you go?!?      

I think we all have 'floors' in terms of what standard of hotel we are prepared to stay in (for those of us fortunate enough to do so in the first place).

For Mrs Arty and myself, who have both spent a fair bit of time traveling for work and staying in decent hotels, it's not a great feeling walking into a Travelodge that is one small hop away from being a crack den (it was in east London, I won't elaborate further). Perhaps other examples are better, but our experience of the brand is forever tainted. Similar story with 'Ibis Budget' - you have been warned!

(I have nothing against Premier Inns by the way, lest anyone consider me a total snob. Functional and comfortable. And I even eat their breakfasts!)

Anyway, I'm damned if I'm going to live out my retirement in a state of near poverty, simply to give my (already well provided for) kids a bigger inheritance. Life is for living...

Sea_Shell

zagfles said:

Sea_Shell said:

It's funny what 'value' we put on what we get for our money.

We've stayed in a few 'fairly' expensive hotels, and TBH, on reflection, I wouldn't say that they were worth the extra over and above a Premier Inn, on balance.    We'd draw the line at Travelodge mind, unless we had no choice!

Yes, they may have had various things like a copper roll top bath in the room (why?), some fancy complimentary toiletries, room service tea/coffee (rather than a kettle etc in the room), which in reality just meant you had to wait 10 mins for a lukewarm drink to be brought up!!   Is that worth an extra £100+ per night?

Do they get better 'value' the MORE expensive you go?!?      

IME in general you get less value the more expensive you go, eg a product or service twice the price isn't generally twice as good. You often just get the same product or service with a bit of superficial fluff as above.

It doesn't help when I suffer from "first night syndrome" which means I NEVER seem to sleep well on a first (only) night in a new place, regardless of the comfort of the bed, or the quietness of the room etc etc.   

So I just get to stare at a more expensive ceiling, or the standby light on a more expensive TV. 

Flugelhorn

I sometimes opt for top end as can save money - did a couple of overnight ferries on my own, booked a much larger cabin that I needed and had a comfortable trip with large bed, sofa, TV, champagne, chocolates   etc etc - some friends did a similar trip , booked in to cheapest inside bunk cabin, spent all evening in the bar, had a huge bill there and on the way back opted to pay the supplement for the larger cabin. 

Another fan of premier inns - used them a lot when working as you knew what you were getting and it was reliable

zagfles

Nebulous2 said:

sheslookinhot said:

Nebulous2 said:

El_Torro said:

That article is behind a paywall. 


I sometimes wonder what I'll be like when I retire. It's still some ways off, but I've been spending less than my income for pretty much all my life. Even when I was in school I managed to not spend all my pocket money. I like to think than when I retire I'll be happy to see my net worth drop every month, I'll see if that's the reality of it though.

Sorry - maybe I should delete the post. I got it free from Microsoft news.  

Can you cut and paste the text ?

[DELETED BY FORUM TEAM]

Why would anyone "stop thinking about money"? Every time you buy anything you're thinking about money. If you buy stuff without thinking about money, ie what it costs, it doesn't matter how rich you are, you could end up spending far more than you can afford. Whether you decide on that luxury Antarctic cruise without thinking about the cost, or flying round the world first class, or buying that Porsche and Rolex etc. Literally nobody can afford to "stop thinking about money". Even a billionaire, who might eg fancy a trip to the moon.

Thinking about money is essential for everyone and it shouldn't be a habit to break. But thinking about it sensibly, and that includes "yes I can afford that Antarctic cruise", because you've thought about the cost, and worked out that you can afford it, and have decided that the value you'd get from it is worth the cost. And the reason you can afford it is because you've thought about money and value when making other purchases.

Albermarle

As for hotels I've never spent a fortune on hotels simply because I don't spend much time in them if I'm away......just need a comfortable clean bed.  Premier Inn or Holiday Inn Express for me

I did decades 'on the road' in the UK ( and elsewhere to a lesser extent) and working for different companies with different hotel expense limits. So I am a sort of 'expert'. Hardly ever stayed in 5*, only very occasionally in 4*. many, many 3*, quite a lot of 2 *, sometimes in a Travel Inn etc, often in 'pubs with rooms' 

Quick summary would be that I would not consider a Premier Travel Inn , or Holiday Inn Express as really 'budget', as they can be quite expensive in busy locations/periods ( especially including breakfast and parking costs in some locations) and the newer ones also tend to cost a bit more. You can stay in a standard 3* in many locations for not much difference in price. 
Pubs with rooms have improved a lot over the years. Many have very modern rooms, coupled with a better ambience than a hotel, although best to have a close look at the photos before booking.
In summary if you pay much less than £100 B&B for a couple, you may be disappointed. ( unless it is a Tuesday night in January in a deserted seaside town !) Anything over that you should be OK. £150 should get you a nice hotel/location/ busy dates.  Anything above that you are probably paying just for 'fluff' mainly ( or staying in London)

westv

We like to use Trip Advisor and Booking.com reviews to give us a "feel" for any hotels we might like to stay in. 

sevenhills

Nebulous2 said:

El_Torro said:

That article is behind a paywall. 


I sometimes wonder what I'll be like when I retire. It's still some ways off, but I've been spending less than my income for pretty much all my life. Even when I was in school I managed to not spend all my pocket money. I like to think than when I retire I'll be happy to see my net worth drop every month, I'll see if that's the reality of it though.

Sorry - maybe I should delete the post. I got it free from Microsoft news.  

Maybe when you are in a spending mood you will pay more subscription fees?
Not many worth paying, perhaps I will pay the Stastistica subscription?