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?

@User0610134049

Gosh OP I understand where you’re coming from but at one point reading your post I wondered if it was a parody. I’m sorry I do think it’s tone deaf and can’t see what you’re hoping to gain from it that would balance out the possible upset to people who are really struggling.

The increase in prices affects everyone and it’s a worthy discussion point. If those who usually spend a lot on discretionary things like cleaners, beauty/cosmetic appointments/extra curricular activities, takeaways etc are having to cut back, it has a knock on effect on the small businesses who provide those services. That’s why it’s something that needs discussing. Businesses who were hit by covid will have further hit by people having to cut back on these things.

And you might say ‘oh diddums, you have to drop horse riding lessons, poor you’ but imagine the effect on the horse riding lessons provider when half their customers have to cancel?

We're financially comfortable but we aren't extravagant so there's less for us to cut back. Already have no Netflix, no car, get a Tesco delivery, no organic food, no cleaner, no gym, no haircuts, phones 4+ years old. I'm pregnant so holding off clothes buying until my weight has settled anyway. All dc clothes are hand me downs from relatives.

We spend a fair bit on days out and activities with our dc though and will be paying for private school from September. Probably won't cut down on that for financial reasons but days out might be more low key anyway due to new baby.

We'll still do holidays and one will be long haul to see relatives overseas, but otherwise they will be normal family holidays in Europe. We max out our pensions and ISAs.

Our flat is 2 bedrooms plus an open plan living/dining/kitchen area so we just heat the living area. But the weather is milder now so we've turned off the heating and probably won't use it again until next winter.

I’d say we’re comfortable but the things you describe as cutbacks (eg non essential clothes or heating rooms we’re not in) are our normal. We’re being more aware and budgeting better though, yes. Fewer coffees with friends, fewer car trips, fewer paid for children’s activities.

I’m sorry I do think it’s tone deaf and can’t see what you’re hoping to gain from it that would balance out the possible upset to people who are really struggling

Why though? The title is clear and it's an interesting topic. People who are comfortable starting to think about these things is actually quite serious. Not everyone lives on the breadline and I think those people should still be allowed to talk about their lives.

Large chunks of the economy rely on people doing non-essentials. People are swimming teachers, horse riding instructors, people own wine shops and farm shops. Builders need people to want to build, carpet fitters need new carpets.

I don't think it's tone deaf- the title is pretty clear what the thread is about. Of course it's no real hardship for the individual giving up takeaways, taking a picnic instead of going to a cafe and skipping a cinema trip etc but it really is if you run a restaurant, own a cafe or work in a cinema.

Large chunks of the economy rely on people doing non-essentials. People are swimming teachers, horse riding instructors, people own wine shops and farm shops. Builders need people to want to build, carpet fitters need new carpets

You’ve said what I was trying to say, but you are far more eloquent!
Wealthier people cutting back on non essentials due to increasing prices will affect everyone.

It’s all a bit “ fun frugality “ raising your own chickens and planting seeds. Buying fewer organic groceries.. I mean, go for it, save your money, but these type of posts do read a bit like it’s a game- working out little savings while still having a lovely life.
I think a lot of people in this country are sick with worry so might be a bit spiky about these kinds of posts.

We're fairly comfortable financially but my big cutback is actually going into the office. I was wfh a few days a week but that meant using heat and electricity at home so now I'm heading into work. I'm very fortunate as I can walk to work rather than drive, takes roughly 30-40 minutes depending on walking DC to school.

I'm continuing with DC swimming lessons as I think it's a valuable life skill and he doesn't have other extracurricular activities.

Any new clothes at the minute are being bought from eBay or Vinted or local charity shop.

@Pyri

I understand the point of this thread but think it’s a little tone deaf to talk about cutting back on horse riding lessons etc!

Not tone deaf at all. It’s good to get an overall picture and mn is one of the best places to see it imo. All ages, incomes, areas post here.

The op cutting horse riding lessons will have an impact. People are employed by horse riding stables. If what the op is saying is replicated across the country, people working in these places will start to become unemployed for eg.

Mn has the remarkable hide thread facility - don’t want to see a thread, hide it 🤷‍♀️

Take something like private education, for example. Whatever your views on it, the fact is that the state system is already oversubscribed and cannot physically accommodate those who are currently privately educated. People can’t afford school fees… the state system also suffers.

@ReadyToMoveIt

And you might say ‘oh diddums, you have to drop horse riding lessons, poor you’ but imagine the effect on the horse riding lessons provider when half their customers have to cancel?

I guess that is part of what I’m thinking about.

While much of our essential spending is directed towards big companies such as the supermarkets, energy companies etc. much of our discretionary spending goes to smaller, local businesses. In the past few years, I think many people have chosen to support such businesses, even if they are more expensive and I worry that ( while we need to do what is financially best for our family), it is these businesses that will suffer.

Yes, I'm trying to.
Whilst I'd say that I'm comfortable as I can pay for activities and don't have to watch every penny, I'm very aware of how easily it could change. As a single parent, I'd be screwed if I ended up out of work.

I'm also aware that any cutbacks could have an impact on others too. I'm trying to continue with my refills from the eco shop as I really want to support them. Similarly, I've not cut back my donations to charity (not a huge amount).

I'm reluctant to cancel the exercise class I go to as it's a small business and I think this could hit them hard and its so supportive and really helps my mental health

So according to lots of you, you are only allowed to start a thread on what you're going to cut back on if you are on the breadline in the first place?! Can you not see that people who have money are cutting back too and if that means Pony Lessons then so what? It still matters to that person and is still cutting back, for them.

We are what some people would term wealthy and we are having to cut back on things as well. Cutting back is cutting back on things you normally have, even if they seem like massive luxuries to others.

I think this is an interesting thread and hope it doesn't get derailed by the few.

Yes. Heating on much less, not using tumble dryer, washer on less. We are 90% veggie and may go fully.
We are still eating out, going to gigs/ theatre and having nights away
No foreign holidays this year..we normally do 3 city breaks.

No kids, decent joint income BUT ALSO cutting back. I cancelled a new car order in January and I'm so glad I did. It was only a Dacia and £140/month, but that could be about to be a life changing sum of money. We'll stick to one car. Our bathroom is hideous and haggard (1980s build mid terrace house, original bathroom) so we were going to take out a loan to have it redone - about £5k. I think we'll put that off now too.

I've told DH we're onto at least two vege dinners a week to save on meat (I do the cooking but I do enjoy it!) but it'll probably be more than that. I've stocked up on lentils etc as we love curries and it's so much more enjoyable to have a tasty healthy dinner which is also easy to cook when it's full of spices. I already buy my spices at the local "zero waste" shop so I buy in bulk plus its cheaper.

I WFH full time, the heating is rarely on by day and DH bought me an Oodie last year which has saved us a fortune in gas! Love that thing. I layer up and drink a lot of hot drinks instead of having the house heated.

I see a LOT fewer trips to the pub and takeaways in the future. We don't really have anything else we can cut - no memberships, we already share the cost TV services with friends (Disney+, Prime, Netflix) so we aren't spending lots on that between us all, haven't been on holiday in 4 years anyway, and we seems to spend all our money on luxury food and drink. Which will obviously stop.

No and I don’t think we will need to
We can absorb the cost of most things and we both have a large amount of savings
No mortgage and kids are grown up
Neither of us drink or smoke
The dog is probably the most expensive household member costing around £100 a month inc insurance

I also agree there is nothing tone deaf about this post.

We are comfortable but not exactly what you'd describe as wealthy. I've sorted out a thorough budget using the budget planner from MSE which is brilliant and built in a buffer for things such as 50% on utility bills.

So now we're very mindful about heating, eg we don't have it come on and off on a timer - instead we manually put it on only as and when we need it. Also we will limit meals out. Luckily we're modest spenders so there's not much else we can cut back on (have already gone down to a single car).

We used to host a monthly gathering with a meal for a group of friends but decided to ditch this and maybe just do it in the Summer months instead (that will save around £65 a month).

Apart from that, I realised through the budget planning tool that our cat is costing around £100 a month! However not a chance that will change.

I don’t understand the complaints about the OP being ‘tone deaf’. What time? Who sets it? Why are only those in very specific financial circumstances allowed to start a conversation on social media? It’s very clear from the thread what the ‘tone’ is and those who don’t want to read it don’t have to. If I want to start a thread headed ‘we have a lot of money and I’m not sure where to spend it. Please can you help’ it’s not up to the thought police on here to tell me not to

‘What tone’ not ‘what time’

We are talking of cutting back. But DH is retired worked hard and likes his heated home. Big car etc. We are now using small car every day and larger one for odd outings animal feed , bedding etc. I am slowly turning the heating down hoping he doesn’t notice and lighting the multi fuel stove. Power cuts equaling 7 days have helped

My DS is disabled and much of our income goes on childcare/respite in order to have a break and for me and DH to spend some time together. Our cherished Saturday mornings, when we have a carer for DS, costs £300 a month.

Otherwise, hard to see how we can make savings. It is cheaper to shop at Aldi but given that they don't deliver, I have to take 1.5-2 hours out of my day to travel there and do the shop each week, which incurs additional childcare costs.

@User0610134049

Gosh OP I understand where you’re coming from but at one point reading your post I wondered if it was a parody. I’m sorry I do think it’s tone deaf and can’t see what you’re hoping to gain from it that would balance out the possible upset to people who are really struggling.

Same here I am comfortable - though I take the view it could vanish in a second

Has comfortable become a euphemism for rich?

I consider comfortable to be covering bills and saving, but I don't think of it as horse riding lessons. Or having that amount of clothes. Or Gousto boxes or regular takeaways.

Anyway OP, as a comfortable one, I'm frugal and always have been so not a lot of room to change.

I don't think of jobs as secure. Luck is a big factor.

Op, please don't put your precious money into a supermarket rather than a farm shop. We may well need our farmers for food security if things go really bad. Hard to start from scratch. I know the supermarkets also buy from the farmers but very much in their own terms.

In terms of cutting back, if anyone wants to have a go at me for being tone deaf, I've turned the Aga off as it uses a lot of electricity. We don't go out for a drive for fun, only use the car for essential trips. Heating is off most of the time now (LPG - always very expensive but I imagine the price has at least doubled by now).

I am just cutting out s few impulse buys at supermarket by ordering online. I will probably only buy a couple of new dresses for summer and make do with ones from previous years. Probably only 2 pairs of sandals. We are only going on 2 weeks holiday this summer and pre Covid had 4 weeks.