Pensioner frugality- not spending !

Eldi_Dos

Nebulous2 said:

I've written before about an acquaintance with a large prestigious car and expensive private plate who goes most places by bus utilising his free bus pass. Yet he will drive 20 miles to pick up a friend then another 80 round trip to take them to a hospital appointment.

He has no problem spending his money on others, but struggles to do it on himself.... 

That's what a bus pass is for, you can go into town and not have to bother about finding a parking space or rushing back before the ticket expires.If you want to go for a refreshment you can without having to worry about blowing into a bag on the way home.

Sounds to me like your friend uses the car as a tool for when it suits them and helps others,thats commendable I think.

Albermarle

I think it is a little bit of a chicken and egg situation with a lot of people.
One of the reasons they have been able to build up good reserves, is that they have always been careful spenders.
If they were not careful spenders, they could well not have any money left to spend in their later years.

I suppose ideally you should be a careful spender up to a certain point, and then suddenly change but that is unrealistic.

Personally I have found I have relaxed a bit about spending as I got older ( and better off) . However it is still a bit of a mixed bag.
OK to spend on some things, like a holiday, or dentistry, or keeping the house warm, for example, but still go out of my way not to pay an extra Pound for parking, wash my own car rather than paying for a car wash, getting free entry to places with Clubcard points etc. all  those sort of things are just ingrained in my psyche.

poseidon1

Albermarle said:

I think it is a little bit of a chicken and egg situation with a lot of people.
One of the reasons they have been able to build up good reserves, is that they have always been careful spenders.
If they were not careful spenders, they could well not have any money left to spend in their later years.

I suppose ideally you should be a careful spender up to a certain point, and then suddenly change but that is unrealistic.

Personally I have found I have relaxed a bit about spending as I got older ( and better off) . However it is still a bit of a mixed bag.
OK to spend on some things, like a holiday, or dentistry, or keeping the house warm, for example, but still go out of my way not to pay an extra Pound for parking, wash my own car rather than paying for a car wash, getting free entry to places with Clubcard points etc. all  those sort of things are just ingrained in my psyche.

Had to smile at the car washing quip.

 Last time I had a service wash the cost was £25. I can afford it but find it more satisfying to do a quick self service wash for the princely sum of £4 at my local Shell garage.

Albermarle

poseidon1 said:

Albermarle said:

I think it is a little bit of a chicken and egg situation with a lot of people.
One of the reasons they have been able to build up good reserves, is that they have always been careful spenders.
If they were not careful spenders, they could well not have any money left to spend in their later years.

I suppose ideally you should be a careful spender up to a certain point, and then suddenly change but that is unrealistic.

Personally I have found I have relaxed a bit about spending as I got older ( and better off) . However it is still a bit of a mixed bag.
OK to spend on some things, like a holiday, or dentistry, or keeping the house warm, for example, but still go out of my way not to pay an extra Pound for parking, wash my own car rather than paying for a car wash, getting free entry to places with Clubcard points etc. all  those sort of things are just ingrained in my psyche.

Had to smile at the car washing quip.

 Last time I had a service wash the cost was £25. I can afford it but find it more satisfying to do a quick self service wash for the princely sum of £4 at my local Shell garage.

In fact if the weather is bad, or one of the cars is particularly dirty, I do take it for a jetwash - £3 .

HedgehogRulez

Do you not own a bucket and sponge?

Archerychick

This is a tough one for some to understand, sometimes it’s about seeing the value in something before spending the money.

As my income has grown over my career my lifestyle hasn’t become more affluent because of it. It has enabled me to save, and get myself into a position where I can retire happy knowing I have a large buffer. I can afford to buy lots of things, but if I don’t see the value in it, I won’t. For example if I need a pair of walking shoes I won’t buy a pair for £180 if they’re is a pair for £40 and they tick the boxes. I won’t however do food shopping in Lidl because I’m a brand snob, I like what I like and I’ll have it. I don’t take holidays because I’d rather be at home. I don’t buy clothes unless I need to, and I wear my clothes until they’re ready for the bin. I don’t buy takeaways before I can’t be bothered, I’d rather cook. 

Am I happy? Yes too right I am. 

Just because you have money, that doesn’t make you happy. It depends on what happiness is to the person. So my best advice is, let them be if they’re happy and healthy.