If you are financially comfortable, have you started cutting back on non-essentials?

[LabraDabraDoo]

I realise that we are very fortunate to have the financial headroom to choose to cut back and at the moment we spend quite a bit on non-essentials. We did a budget last night to look at likely price increases (especially fuel) and it looks like, while our jobs are secure ( although our investments are in the doldrums) we will be cutting back on quite a few non-essentials. Anyone else also making this choice yet?

Our list includes:
Back to buying decent quality supermarket meat and reining in trips to the farm shop.
I’m not buying clothes this Spring, I have enough to clothe a hundred middle aged women. We aren’t heating unused rooms in the house. Horse riding lessons are being suspended ( kids didn’t seem too bothered so that’s an easy £200 saved). We’ve cancelled our plan to refloor downstairs (wooden floors, so that’s a big saving). I planned to raise the children to a cottage in Norfolk for a couple of weeks in summer and we’ve arranged a house swap with a friend instead. We are not going out to eat for the foreseeable, and outings will be free swimming at the gym, dog walks etc. All other home improvement plans and big spends ( I considered renewing my car) are on hold. There are some things I hope we don’t have to cut, like cancelling holidays, music lessons and our lovely cleaner. We are still saving money into pensions and investments.

Anyone else making cutbacks? Do you think it’s going to start having an impact on people who provide non-essential services or are they still enjoying a post-Covid boom?

@Soihaveagoat
Just a little tip that I've just thought of. We're getting a takeaway tonight from a Greek food place, a mixed platter. Instead of getting all the sides to go with it we'll just get the medium size and I'll make flatbreads, tsatziki, hummus etc to to with it. So still plenty of food and feels like a lovely treat but only a tenner instead of 20 quid.

@ArmWrestlingWithChasNDave
What's the point of a takeaway at all if you end up cooking half of it? Surely it makes more sense to buy the meat and cook the whole thing. Takeaways cost £££ more than the ingredients because you're paying to not have to cook...

Ah, but no one can replicate at home a mixed platter from a real Greek restaurant! Mmmm yum, used to love my trips to Greece pre-DH illness, we went a couple of times a year for the food as much as the sunshine and antiquities.

@GloriaSicTransitMundi exactly! They're very generous with the chicken and the rest of it. I couldn't replicate that part at home and I'm still supporting a local business.

I love Greek food too, but I wouldn't consider it in any way a win to order half a takeaway and then cook the other half. Worst of both worlds!

I'm making bread for the weekend today anyway so it will take me about an extra 10 minutes to make the flatbreads and the tsatziki. Wasn't saying it was mandatory, just a tip that might help someone.

Sorry, my posts read arsier than I intended. I hope you enjoy your Greek feast! I could really go for some dolmades now...

I would put myself on the lower end of comfortable - I couldn’t go through the month without checking what I am spending, but I know I don’t have to worry about paying my bills or buying food.

What I am doing is refocusing my spending money into preps for when things do get tougher.

I don’t have extravagent social expenses and I am currently on fixed pricing for my gas/electric so not feeling that hit yet - however I am starting to think about the hikes when My fixed rate ends. I’m looking to source some alternative measures to help keep bill costs down, such as better ways to dry clothes next winter, and maybe score an electric blanket in some sales as it warms up. Plus things like winter socks/loungewear ready for next year.

Food and consumables are my main focus at the moment. I am using the fact I can afford to bulk buy to tak advantage of cheaper prices per unit - my dog has food for the rest of the year for example, I’m keenly sourcing offers/sales on things I want to keep buying.

I think my next step will be to get myself meal planning and budgeting food spends properly, At the moment I spend far too much and waste some too. I already have minimal oven use - maybe 2 times a week? As a single person household I get by fine with a hob, microwave and airfryer.

I was intending to buy a new house this year, but am content with not doing anything right now, just to ensure I can afford what I have got first!

the well-off person no longer buying their 17 quid chicken will have an impact on the local farmer, on the 18 year old on the till in the farm shop, on the owner of the property the farm shop leases, on the producers of all the other local foods that the farm shop sells, etc etc

Or possibly stop uxorious over pricing of chickens? Because that’s what will happen. You can only charge what the market will stand.

@MoonbeamSprinkles

A lot of expensive cars seem to be on leases too.

That’s because it sometimes makes financial sense to lease an expensive car rather than buy one.
It’s not necessarily people living beyond their means.

I got my car (which is a tiny city car) on Pcp because it made no sense to buy it outright.
The finance deals for new cars are really good at the moment, I’m not paying any interest at all and they gave me money off the cost of the car and free services.

I went in wanting to buy in cash but instead of paying 14k outright, I paid 5k deposit then £100 a month for 3 years and if I want to keep the car which I probably will then I will pay £4500 when the deal runs out.

If I had wanted to buy a 3 year old version of my car it would have been pretty much the same price as a new one because there was a 6 month wait on a new one and most people couldn’t wait.

They are incentivising these kind of deals because there’s a shortage of second hand cars at the moment (and new ones, hence the wait).
These deals mean that the garage is in steady supply of second hand cars which they can either sell outright or lease out again when the three years are up.

It used to be that cash is king when it came to buying cars but it’s just not true anymore.

I’ll probably keep my car because I love it.
The way I look at it is I will have driven a brand new car for 3 years for £238 a month (if you include the deposit in the monthly payments) and then I’ll get to buy a 3 year old car with incredibly low mileage and no surprises for the bargain price of £4500, which I’ll then drive into the ground.

Why have your money sitting on your drive when you could have it in your investments?

Leases are only a problem when people go way beyond their means with them.
I have a friend who pays more for her car than her mortgage and it’s in the garage all the time (Bet you can guess the make of car).

Yeah, I'm not making any comment on whether people should or shouldn't lease cars. Only that if you've already got a lease and you're tied into a contract until a certain point, you're going to have to either complete it or pay a fee to get out early. Which means it's totally plausible that a person might still have an expensive looking car and also be forced to make cutbacks elsewhere. It's about prior financial commitments.

Exactly. When I leased a car it was a four-year contract. You can't just send them back whenever you feel like it and stop paying the lease fees.

And 17 pound chickens!
Some times MN is quite literally another world

But you knew there were wealthier people than you in the world? And that some may use MN?
I can’t afford £17 chickens. I also can’t afford a super yacht. But I knew that people who can afford these things exist.

Our fancy holiday/honeymoon this may was booked and paid for in 2019, for may 20

Which got cancelled to may 21. Both wedding and honeyMoon

Which got cancelled to June 21. Both cancelled again

Wedding finally July 21 , honeymoon got cancelled /moved to may 22

Let’s hope we actually go. Havnt had a holiday abroad since may 2019

So yes those going away prob paid for it 3yrs ago like we did

We have two international holidays this summer, all via redeemed vouchers for pre covid holidays. DH's car is 'fancy' but he can't change it until next year.

We have to be careful too. If one of us lost our job, we would struggle. The pandemic allowed us to review every financial thing. So instead of spending on whatever we want, we need to ensure we are financially able to hold on for a while if we lost our jobs. We are now saving more to create a buffer. We are pushing back a house move. No new car for me. We are also pushing back the tutor we'd have likely sent DS to from September.

But we acknowledge that we are in a better position than many right now. I am looking at how I can help my family. I have asked my parents/siblings how I can help them, and done what they have asked. Like buying/sending electric blankets, taking my nephew on holiday with us (as it didn't really cost a lot to do so) and thinking about them too as I save more.

@ReadyToMoveIt

And 17 pound chickens! Some times MN is quite literally another world

But you knew there were wealthier people than you in the world? And that some may use MN?
I can’t afford £17 chickens. I also can’t afford a super yacht. But I knew that people who can afford these things exist.

Exactly

I love Greek food but wouldn't have a clue where to start making bread etc doesn't it have to be made ina special way?

Cars are my biggest money drainer. I got into a contract for mine and can't get out of it for another 2 years :(

Yeah, I'm not making any comment on whether people should or shouldn't lease cars. Only that if you've already got a lease and you're tied into a contract until a certain point, you're going to have to either complete it or pay a fee to get out early. Which means it's totally plausible that a person might still have an expensive looking car and also be forced to make cutbacks elsewhere. It's about prior financial commitments

Sorry I totally miss read the tone of your post.

I thought you were partaking in a Mumsnet hobby of bashing car finance.
There’s a lot of that on the housing threads.

My reading comprehension is appalling today!

I don’t eat meat, but surely it costs more than £17 to raise a chicken to eat.
They have to be fed, watered, sheltered, free from disease, slaughtered, packaged, shipped, refrigerated, and then the shop needs to take a cut. All the people at the farm and the transport and the shop need to be paid and have relevant insurance and what not.

I dread to think how they keep the prices down.

@MoonbeamSprinkles

I don’t eat meat, but surely it costs more than £17 to raise a chicken to eat. They have to be fed, watered, sheltered, free from disease, slaughtered, packaged, shipped, refrigerated, and then the shop needs to take a cut. All the people at the farm and the transport and the shop need to be paid and have relevant insurance and what not.

I dread to think how they keep the prices down.

Economies of scale, I'd assume.

@MoonbeamSprinkles

I don’t eat meat, but surely it costs more than £17 to raise a chicken to eat. They have to be fed, watered, sheltered, free from disease, slaughtered, packaged, shipped, refrigerated, and then the shop needs to take a cut. All the people at the farm and the transport and the shop need to be paid and have relevant insurance and what not.

I dread to think how they keep the prices down.

They don’t live long and there’s economy of scale. If you look at the number of chickens sold, they’re processed in vast numbers and I suspect there’s a fair bit of automation these days. I can remember when cooking a chicken was a big deal because it came complete with feathers and innards.

Yes, I’m old!

@MoonbeamSprinkles unfortunately, as someone who works in this industry, can confirm it does not cost that much to raise your average supermarket chicken. Make of that what you will.

I buy meat of the £17 ilk. That is a priority to me over many other things, I would rather reduced the amount that I eat than compromise that. i can definitely do better on planning how and when i consume that though.

Exactly. Which is why, although 17 quid might seem ridiculous for a chicken if you're comparing it with a 3 quid Aldi job, it's not actually that much if you want a 'locally reared, fed on corn and scraps, spends its life pecking around an organic woodland' kinda chicken. 17 quid might be totally unaffordable for a lot of people to spend on a chicken - but it's not actually a ridiculous amount of money vs the cost of actually raising a chicken in this way.

Roast dinner.

Chicken stir-fry

Enough meat for one or two chicken mayonnaise sandwiches

Boil the bones, make a stock use the stock for a risotto, I would say that was money well spent.

^ Roast dinner.

Chicken stir-fry

Enough meat for one or two chicken mayonnaise sandwiches

Boil the bones, make a stock use the stock for a risotto, I would say that was money well spent. ^

A Mumsnet chicken in the wild

No, there’s at least ten meals for a family of four on a MN chicken. 😂

@MoonbeamSprinkles

^ Roast dinner.

Chicken stir-fry

Enough meat for one or two chicken mayonnaise sandwiches

Boil the bones, make a stock use the stock for a risotto, I would say that was money well spent. ^

A Mumsnet chicken in the wild

@GloriaSicTransitMundi:

Won't give up the car as DH can't go on pub trans, but using it as little as possible

How often do you need to use your car, and how much does it cost you a year to keep it running?

I’ve just started volunteering for a Community Car scheme which is aimed at older and less able people who can’t use pub trans. I take them to hospital appointments, hairdressers, to and from a day centre - wherever they need to go. Using my own car.

I get expenses at 45p per mile, they pay a bit more than that with the difference going into the charity’s coffers (as they have some paid staff, office costs etc). It’s cheaper than a taxi, plus we volunteers know what we are getting into and will be patient at having to help with mobility aids and hang around waiting etc which a taxi driver couldn’t because they need to earn a living.

Just taken someone to a hospital appointment and waited while they had their procedure. 18 mile round trip for them, the fare was £13.40, I’m sure a taxi would be a lot more. My empty miles to reach their house are covered as well.

If there is a similar scheme near you, it may work our similar or even cheaper than running the car, if you only use it once a week or something.