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Original poster

Disposable income...

79 replies

surlycurly · 31/07/2021 22:00

I was hoping to get some feedback please. I run a small business (part-time on top of my FT job) that sells 'luxury' or unnecessary interior items (up for debate but to simplify and prevent outing I'll go with this). The past two months have been dire. The products haven't changed, nor have the prices, but I'm just not selling anything really. Can I ask what you're spending your spare money on just now? I don't want to give up if this is just a blip caused by holidays/ eternal purchases etc. Please don't pummel me into the ground for the title, or for being nosey - I don't have a spare penny just now because my business isn't doing what it normally does. I'm just hoping to find out if it will come back to me or not. Covid has changed all previous norms and I'm getting more and more bleak as time goes on with little to no sales. I rely on the extra income to keep us afloat. Thank you so much in advance.

OP posts:
imaginethemdragons · 01/08/2021 10:53

Been saving like mad for a new bathroom.
DIY.

onlychildhamster · 01/08/2021 11:02

I am trying to overpay my mortgage by £1000 a month. I really enjoyed having a spare room over lockdown as a space to escape to/ put my work desk so I would love to upgrade to a 3 bedroom flat so that I can have that plus a nursery. Therefore I don't have a lot of disposable income and I prefer to spend any disposable income i have on days out with my husband as we don't have a lot of time together as he has returned to the office full time. I also acquired a hamster over lockdown so I am spending a surprising amount of money on stuff like vet fees and bedding- I imagine it's more for new owners of dogs and cats and pet ownership has peaked over the pandemic.

I did buy suqqu Foundation for over £60 last week..now we are returning to normal life, I want to look nice and I know lots of young people would probably want to doll up for clubbing/meeting new people.

Bizjustgotreal · 01/08/2021 11:15

[quote surlycurly]@Bizjustgotreal thank you! I just had a google and can't find anything though. Could you give me the name of her book/ SM? [/quote]
@wheresmymojo - that's the one. You can get a digital edition from her website.

It's a short read. A lot of it is stuff you probably already know. There was some new insight though. Plus if you want a community of artist entrepreneurs then it comes with that. There were some bits in there that I didn't 100% agree with - I think a personal website is a bit of a waste of money/time in the early stages - build up the social media first.

youvegottenminuteslynn · 01/08/2021 11:38

I work with dozens of small businesses and your experience over the last few months is the same as that of almost all of them if that at least helps you know it's not just you! A combination of people being at home less, getting back to saving for things like holidays, back at work so online for 'personal' stuff like shopping less, hobbies and activities back on which take up time and finances... lots of reasons right now. I would focus on a strong PR / marketing / social push for Christmas shopping season so you can have a strong Q4 if you can invest in any of those elements or have the ability to do them yourself. Good luck! Thanks

Original poster
surlycurly · 01/08/2021 11:41

@Bizjustgotreal thanks a million- I'll have a read. And @youvegottenminuteslynn in some ways I'm so pleased to hear that it's not just me. My confidence has taken a knock, as well as my bank balance!!!

OP posts:
tintodeverano2 · 02/08/2021 08:55

Also, it may just be that you're selling a product that once people have it, they may not want/need another. Maybe you need to diversify?

edwinbear · 02/08/2021 10:40

I've just spent a good chunk of lockdown savings on a new car, we'll also book a holiday for next summer having not had one since 2019. Like others, I've realised over lockdown we have too much 'stuff' in our house so really trying to reduce those sorts of things. After paying for my car and a holiday, we'll want to try and bump the savings up again just to give us some financial security.

Jerseygirl12 · 02/08/2021 10:52

I’m spending on socialising, taxis, holidays and things we couldn’t do a few months ago. We did spend a lot on the house a while ago but I’m so over that now. I want to get out and about and make the most of the summer.

Milomonster · 02/08/2021 13:31

Stashing away the vast majority of my disposable income. I spent some on doing up my home and have taken out a monthly membership at my yoga studio for 100 quid a month. I’m buying any things for the home from ex-display and at massive discounts. Taking DS to exhibitions and concerts but not buying many clothes or beauty products. Might fork out on some gorgeous specs which are expensive but I’m struggling to make the purchase tbh.

wendz86 · 02/08/2021 14:49

At the moment, meeting up with people - going for drinks/food.
Summer holidays - days out etc add up.
End of this month will be buying new school shoes/uniform etc.

Original poster
surlycurly · 02/08/2021 15:17

Thanks all. Incredibly helpful feedback.

OP posts:
HeronLanyon · 02/08/2021 15:30

A lot holidaying in the uk are spending more than usual on that.
Last year saw quite a bit of interior spending/work.
Think and hope many are also saving for when we can travel again (responsibly which itself is bloody expensive).
I ‘wasted’ lockdown 1 and am only now doing interior stuff so am an exception to some trends.
Recently inherited a lot of art so not in the market (have been ‘banned’ frim looking in any gallery with a view to buy - for wall space reasons.
Good luck op.

emmathedilemma · 02/08/2021 15:33

To be completely honest your shop doesn't sound like the sort of place I'd shop normally. I don't change interiors often in the way that some people do and have a fairly minimalist approach to decor so unless it was something for a present I probably wouldn't use it.
I've hardly been near shops other than supermarkets for over a year and haven't bought much other than essentials. I saved a lot during lockdown but put it into savings. Bought a bike and booked a fairly inexpensive holiday and I've eaten out a few times but no more than i would have pre-covid.

MadMadMadamMim · 02/08/2021 15:34

Not got any spare money, and we're having to tighten our belts.

Have also realised, due to Covid, that we actually need very little 'stuff' and even if we could afford it we wouldn't be buying more things for the home that we don't need. We're trying to simplify and de-clutter our lives.

burritofan · 02/08/2021 15:44

I am a clichéd Mumsnet high earner. But the events of the past 18 months have taught me that "stuff" doesn't make me happy. We have cut our cloth a bit to allow DH and I to both work part-time. We still have disposable income but are spending on travelling to see family, and meals out, rather than things. We are also aware that financial stability is important in the current climate so are being more cautious with money and guarding our savings closely.
This. Everyone I know who weathered Covid financially have also taken stock and, after a few mad lockdown one spending sprees when we were all committed to sourdough/keeping chickens/ordering veg boxes, have opted to downsize their lifestyle in exchange for more time, and have started putting more cash in savings/pensions/future-proofing against the next disaster. If anything, we’re decluttering rather than accumulating. And really considering purchases rather than impulse buying.

Personally we’re also desperate to move for the post Covid “more space, less London, what’s it all about eh?” cliche, so all our spare money is going in the stamp duty pot.

I also think that people have either been hard hit by Covid/Brexit/etc so have less money to spend, or have saved (because of not commuting, not going out, etc), so if they are going to buy something are able to spend a little bit more than they would have done and perhaps go higher end?

NoBetterthanSheShouldBe · 02/08/2021 15:47

Spent very little during the restrictions, then lots of eating out and short breaks.

Which led to the necessity of a new summer wardrobe…

Auntienumber8 · 02/08/2021 15:54

I’m not an unnecessary new item decorative buyer. I buy the occasional piece of Victorian Glass. We usually spend money on holidays.

I have spent money on the following in lockdown
New drive
New patio
Outside dining table and two sofas
Bespoke garden canopy
Chiminea
Robot hoover

FawnFrenchieMum · 02/08/2021 15:55

Were tightening our belts now as our outgoings are creeping back up, fuel usage going up as were out and about more, kids hobbies back to full swing (need new kits etc for comps that haven't been happening for example), going back to the office shortly so again fuel, wrap around care, lunches etc that haven't been needed for 18 months. Plus I feel like costs of everything especially food is going up.

EssexLioness · 02/08/2021 16:38

We have a lot of disposable income that hasn’t been hit by covid (I know we’re lucky and I’m not trying to brag, just help give context for the OP). Sounds like you sell the sort of stuff we would normally buy and I love supporting smaller businesses. However, atm this is not the sort of thing we are spending on: we bought a few more home accessories/ art etc at the beginning of last year as the extra time spent at home meant that I wanted to make it nicer/ have a change. Currently much of my husband’s spending is going on hobby items and he is looking at getting a new car (doctor so has been working harder than usual in the pandemic so is treating himself). My spending is mostly going on new clothes, fitness equipment for my home gym, health related stuff: I am struggling with perimenopause and have recently lost 3 stone in weight, so my focus is very much health related. Joint money is going on experiences eg days out/ weekends away/ general fun stuff we can do together… not so much eating out but lots of other stuff. We don’t have kids, for reference. I hope that helps. Sorry your business has taken a dip and I really hope things pick up soon. Not sure if you are allowed to post a link to your website on here but if you are I would happily take a look

Trampolean · 02/08/2021 16:40

We spent lockdown last year doing the house out, so aren't spending money on items like that now. Currently mainly spending on days out.

Marcee · 02/08/2021 16:43

I'm spending spare money on experiences. Days out with the kids- something that will make memories, while we have the chance.

Hopefully next year I'll be brave enough to book a holiday abroad- dont want to at present due to the traffic light system.

SalsaLove · 02/08/2021 16:43

My most recent purchases have been a pair of trousers for work, a candle, and a fan in anticipation of the next heat wave.

Usual2usual · 02/08/2021 17:23

We spent an absolute fortune in July (Scotland so schools were off here all month). All of it was spent on doing things though, days out, eating out etc.

Hopefully things pick up for you soon.

Original poster
surlycurly · 02/08/2021 21:39

Aw thanks for those of you asking for the link etc but I don't think I can post it here. I really appreciate the insight as it's helped me not feel so panicky. My costs have obviously gone up and my income has gone down (again). I'm only under pressure because the ex buggered off. Ideally I'd like to just do my full time job and not have to run a business on top of it but needs must. My other earning streams all died off because of Covid too (exam board marking / private tuition). I'm just so keen to not have to radically alter our lifestyle again. Fingers crossed it will start moving again after the kids all go back to school.

OP posts: