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Original poster

How do you spend gifted money?

25 replies

CherryCocoa · 30/12/2020 11:41

I hope people don't think I'm being insensitive as I know this year has been hard on so many.

I was gifted some money (£150) for Christmas and BDay from various relatives. I owe double that on my credit card. My nan always says buy something nice for yourself but tbh I just clear bills with it.

So do you treat yourself or help clear Christmas spending with it?

OP posts:
tunatwistypastabake · 30/12/2020 11:42

Usually I try to do something a bit 'nice' to not let it get absorbed into everyday spending. Though if I had credit card debt that would be my priority I think.

In your situation I might get a token 'treat' (nice coffee, nail varnish, notebook, whatever) and then put the rest against the debt.

Camomila · 30/12/2020 11:43

I got some Christmas money this year and put it towards a new laptop I needed for work.

I chose the prettiest colour option though so it was also a fun purchase :)

Squaretoe · 30/12/2020 11:45

In that position, I’d put £100 on credit card and use the remaining £50 to treat myself.

Onedropbeat · 30/12/2020 11:47

We have some joint Christmas money and vouchers

Will try and treat ourselves rather than it get absorbed to general spending

Normally we’d put it towards a weekend away or nice meal but in tier 4 so will probably upgrade glassware or cookware

Stompythedinosaur · 30/12/2020 11:47

I'd consider the treat to be me worrying less about my debt. I would absolutely pay off the credit card bill as far as I could.

IceCreamAndCandyfloss · 30/12/2020 11:50

No debt so gifted money gets spend on something we want. I then tell the person gifted with it what that purchase was when we thank them.

The children are free to spend their money on what they want, we don’t insist it’s saved as it’s in lieu of a gift to be spent on something they want.

Nighthawker · 30/12/2020 11:53

Unless there was something tangible that I really wanted I'd probably just use it for the credit card debt, otherwise I'd end up frittering it away on various bits just for the sake of buying something.

CrochetBug · 30/12/2020 11:54

Mine usually gets absorbed by the bills. But this year I've made sure I spent (most) of it on myself.

Original poster
CherryCocoa · 30/12/2020 11:55

That's it I shall clear the credit card and spend a little on a small treat for myself.

OP posts:
Chewbecca · 30/12/2020 11:55

In your position I would split it to pay off some of the bill but keep a little back for a treat item in the sales so I had ‘something to show’ for it.

VettiyaIruken · 30/12/2020 11:55

I put it where it's most needed.

TheLovleyChebbyMcGee · 30/12/2020 12:00

sounds like you are doing the most useful thing with the money. I'd think of it that you are 'spending' the money on your future happiness when you get the debt paid off sooner that you otherwise would have.

S0CKS · 30/12/2020 13:31

£130 credit card debt
£20 trip to supermarket and by myself somethings like a nice bottle a few nicer smellies perhaps.

S0CKS · 30/12/2020 13:31

Buy!!

Rainb0wDrops · 30/12/2020 13:45

I'd keep it back until there was a treat I really wanted (that I might otherwise put on my credit card) and in the meantime pay off the debt from salary over a couple of months. I would hate to use present money on paying a credit card.

Frannibananni · 30/12/2020 13:49

I would buy a nice plant and special pot or perfume for myself and pay the rest towards the card. I personally would rather pay off my bills than buy something I don’t need.

WankPuffins · 30/12/2020 13:53

My dad always gives me £150 for Christmas. I always get it a few weeks before. For the past 18 years it's bought the kids Xmas presents.

Pipandmum · 30/12/2020 13:59

Use all of it against the debt then use the card to buy a small treat. You'll reduce your interest then.

H1978 · 30/12/2020 14:24

Mine always seems to go in the weekly shop 😳

Ffsnosexallowed · 30/12/2020 14:26

We put our Christmas money towards new blinds and a puppy!

Chocolatecake29 · 30/12/2020 14:26

If DH receives money, he usually buys clothes or comics. If it's for me, I get books or clothes. Money for the both of us usually gets spent in takeaway/meal out/nice bit of steak.

Rocococo · 30/12/2020 14:35

I buy most of my clothing in the sales. I try to allocate each gift to an item so I can thank the person for something specific.

Think your approach of using some to clear your debt is sensible.

Saranvenya · 30/12/2020 14:39

If I had a credit card bill I'd pay that off first.
Had 150 from my DS ( he lives rent free and is always very generous) I'm putting it towards our family holiday when this pandemic allows.

LindaEllen · 30/12/2020 15:09

For me it'd depend on how much debt I was in and what the plan was to pay it back. If I was struggling I'd probably pay it all off the card, but if it was under control I'd likely treat myself to a couple of bits off my Amazon wish list and then pay the rest off the card.

CrimsonCattery · 30/12/2020 20:09

I usually buy something in the sales that I have had my eye on for a while but couldn't justify. This year it was a cordless hoover which I already love and a Mac lipstick. Any leftover goes in savings.

If I had debt, it would mostly go on that with a small treat.

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