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?

@Hellsbells35

Petrol is going up and energy bills rising but I don’t see what the panic is? Seems over dramatic.

Well surely that completely depends on your financial situation. If you are comfortable and know you can absorb the price increases then yes - no panic.

However if you are already struggling and always have too much month at the end of your money then these increases are going to hit you HARD. My sister is already panicking as she just about scrapes by each month. An extra £100 alone for gas/electric is going to cripple her.

Be thankful that you are not in that position.

@WhoAre I can afford it but I resent spending thousands more on fuel. Our oil bill has literally doubled. I used to heat every room in a large house when some we hardly ever use. The pool is really expensive and the kids will go in it when it's not heated. I won't but I might try it this year.

We're generally quite comfortable and spend a lot on takeaways and treats (too much normally). We've already cut back as I've been on maternity so had a huge cut in my take home pay when I went onto SMP. Although it has made me realise how much I can live off if necessary, (before maternity leave I would just buy something if I wanted/liked it). I will be returning to work in a couple of weeks hybrid working, so although I will have increased fuel costs I will use less electric during the day. I think we'll continue to spend how we have been whilst I've been on maternity and probably start treating ourselves again if we can afford it.

Well surely that completely depends on your financial situation. If you are comfortable and know you can absorb the price increases then yes - no panic.

I think (and correct me if I’m wrong, I have been about a zillion times on this thread already ) that hells isn’t talking about the people who are already struggling like your sister.

But there are some people on this thread who clearly have a large disposable income who are talking about taking quite extreme measures and cutting their spending dramatically,

I wasn’t that worried (for myself, I’m very worried for my family and for other people) before but now I’m wondering if I should cut back more.

We are doing ok and not on the breadline. We will be cutting back on food shops and sticking to a weekly planner. Also looking to ways of being more energy efficient. Really just an overhaul of all outgoing to see which subscriptions etc can be cancelled. I'm glad spring is on the way, we'll be doing as many free outdoor activities as possible with picnics. There have been plenty times in the past I've been completely skint so I'm fairly frugal and always look for discounts and the best deals on things.

I haven't decided to look for savings, but I'm noticing more where things seem unbalanced from a cost/benefit perspective.

I used to regularly pop in to get a coffee and a sandwich in a local cafe and I'd read the paper. Before covid it was £6.40. Nowadays they're charging £9.60. I just don't see the value now, so when I walk past, I think I can't be bothered with that, I'll wait till I'm home.

I bought 5 coffees (meet up with friends) at Starbucks a couple of days ago...£22!! So that's off my list too. No reason we can't meet up at home instead.

I just nipped to the local refill shop in the next village. They launched just before lockdown but were able to open throughout, providing essential goods. It’s run by a great couple of women who have put a huge amount of commitment getting it off the ground and thriving. Chatting today, they said it’s never been so quiet and people constantly talk about the cost of living. In short, she reckons people are leaving them and returning to Asda, and they are now worried about keeping the business going. Sobering stuff.

@KentdonMum

It never hurts to be careful with money and have pause and resets on how responsibly/irresponsibly you’re handling it no matter how much of it you have.

I think this is a good point. What I want to do is be more responsible, which I'd define as using disposable income well.

My main middle class expenditure is my personal trainer, cleaner and private therapist for DC. I’m loathe to cut back on those as the first two are self employed women who would suffer a lot just losing a couple of clients, and the latter could be life or death for my depressed child. If either the cleaner or trainer were to stop, I wouldn’t seek a replacement.

Aside from the above, we’re pretty frugal and can’t cut out much more. Holidays are to a family members holiday house (free apart from petrol), food is already Lidl and vegetarian, I don’t drink. To cut down on car use for work, buses would have to be cheaper. I’ve thought of investing in an electric bike but it’s a big outlay. DC clubs are state run so v cheap and paid as a lump sum in September. Disney+ paid for upfront too.

We've always been pretty frugal... late 50s now , mortgage paid .....decent public sector jobs.....we've started saving double of what we were previously .....we only have the heating on if my mum comes round or the GC ( otherwise just the log burner) .....we now batch cooking.....changed to cheaper sim only contracts....changed to cheaper broadband.....going out to cheaper places to eat ....not bought any clothes yet this year.....both cars paid for are over 10 years old....but running well....was thinking of replacing one but decided against this now......but not much else .....my DP already does loads of DIY....painting, decorating, upcycling furniture, garden projects....so already don't get professionals in....already shopped at aldi and home bargain.....we still have many holidays/trips booked ...I won't compromise on those .....but we don't go for luxury accommodation....basic hotels ( ibis/holiday inn express) and air b and bs ....I spent one whole weekend in January searching for a cheaper option holiday abroad....wheras a couple of years ago I would just have booked the first holiday I saw and liked the look of.....I don't think this thread is tone deaf....the title makes it clear...you then choose to click on or not

I'm in a similar position OP. I've recently taken on a big work contract so will be earning more. My savings are shopping at Lidl alternating with a tesco click and collect on aldi price matched items, reducing alcohol, no more organic veg boxes, turning heating down and using heated throw, reducing tumble drier usage, walking to work some days.

This is really interesting to read, thank you for starting. There are probably a few subscriptions we should get rid of- I have an Audible one which is really unnecessary, we have Prime, Netflix, Now TV, Disney + 😱

I have definitely fallen into the trap of strolling through M&S of an afternoon before the school run to decide on dinner, so that needs to stop. We have already cut back on take away but still buy coffee daily from one of our few local independent places (and I don't want to change that).

Next term our schedule is changing so will be using the car much less, and I'll be able to spend a bit more time charging at the free points locally rather than the expensive rapid chargers. The lease for it is up in a year and I've been wondering if we really need it or if we could do without for a while.

We have a big holiday booked to see family but I don't think we'll have another holiday this year. I don't really buy new clothes- I make most of mine and the children's clothes and buy uniforms second hand.

@ReadyToMoveIt

Seriously considering not moving at all now, we could do with an extra bedroom but the cost of energy and potential interest rate rises is making me reconsider. We lost our house in the recession in the 90s and I'd rather stay in the smaller house we are in now then potentially put my kids through that

Similar here. We were looking to move later this year but think we’ll stay put now. Too much uncertainty and I don’t think it’s the time to stretch our finances.

We are hoping to move soon and it's really scaring me! We aren't increasing our mortgage much at all, and moving will get rid of a very expensive monthly service charge. We don't need the space now but as soon as the kids (boy and girl) want their own rooms then we will need the extra bedroom.

Things I will cut back on:
Petrol usage
Heating /Electricity usage
Food Shopping - use Aldi /Iceland rather that Sainsburys
Clothes Shopping

Things I wont cut back on:
Exercise classes
Hairdressing
Nails/brows

They may be seen as "luxuries" but all these are run by self employed women whos family income would be decimated if too many people stopped, plus life is going to be miserable enough without having something nice to do.

Thankfully DD gets her 15 hours funding at nursery starting next month so that will free up a little bit of money, added to the fact we ate coming into spring/summer i can walk more and use the heating/electricity less so we can hopefully build up a surplus for next winter

[quote PuzzledObserver]@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.[/quote]
Unfortunately a similar sceme in our area has just closed down, believe or not because demand was too high!

I looked at using zip cars, but what with DH frequent appointments, trips to the vet, shopping, it is only a little more expensive and much more convenient to keep our car and no waiting or potential germ transmission. It's 11 years old so long paid off and insurance including RAC breakdown is less than £400 pa, and no ULEZ (£12.50). When we have to drive to Barts Hospital Cardiology, we are exempt from Congestion Charge (£15) as it's for medical purposes. Took a taxi one time one way Barts to home to collect him after he had an op (I went in by tube) , it was £55 as they add on CC, probably more now with ULEZ and higher fuel costs so now I drive in and take him myself.

I don't think it's tone deaf, and I grew up in a one parent family on benefits. Clearly things would be considerably harder if I was still in that position, but this doesn't mean that I'm not looking at ways to cut back if necessary in the far better financial circumstances I'm in now.

Things that are on the hit-list:
Fuel bills - we're on a fixed rate but am still looking at how we can cut consumption as the fixed rate won't last forever. Things like line drying the washing instead of using the tumble dryer and making full use of the oven when it's on (baking a cake at the same time as the roast for example).
Petrol - I can still WFH if I want, so am only driving to the office when I really need to or in combination with other journeys (eg if I'm going to the gym I will combine the two as the office is nearby). DH is looking at cycling to work instead of driving.
I've cancelled the lovely but unnecessary wine subscription.
Also cancelled the weekly veg box, although will still buy veg from the farmers market I will work out what I need and buy exactly that.
I'm borrowing books from the library rather than buying new.

It really irritates me that people can't have a conversation without being policed for being tone deaf .

I am not making any huge cut backs yet - just keeping cupboards stocked and fuel in the car .

Won't be upgrading the ancient car this year as planned but that's more because I'm over committed to go to a number of weddings and trips I stupidly agreed to go to last year .

I think the main areas I will be cutting back are using taxis and ordering delivery food from restaurants . I already dropped the cleaner last year .

No. Not yet. I have stopped buying as many clothing items as I used to.

@TabithaTittlemouse

I hate threads like this where people pile in to tell the op that they are ‘tone deaf’ (a phrase that I absolutely hate anyway). Op has explained why she has posted, she’s not pretending to be struggling, she’s aware that she’s fortunate.

Are people not allowed to post if they aren’t using food banks?

Agree. ‘Tone deaf’ is one of those phrases that’s really useful but is being overused. The ‘deaf’ bit means just that, not hearing what you sound like. Doesn’t apply to OP as she has shown awareness.

I have just talked further with DH. Our big expense is heating (large rundown house with shit insulation and estimated by DH to be circa £3 k a year) so we have turned the thermostat down to 18 degrees (usually 19-19.5). We own our 7 and 8 year old cars outright, but mine is a very small runabout so we will use the bigger one just to keep it working and will switch to the smaller one all the time. It's only used on the school run (school is 10 miles away so we are not walking it).

DH has a stupid expensive hobby that I have asked him to take a considered view about. (Costs about 7k a year- so that sort of stupid expensive hobby). In contrast i have not had a haircut in 3 years, not bought anything other than tesco clothes for a smilar period of time and use charity shops for the children etc. I do not think I can cut back on my own personal expenditure but need DH to start being sensible on his.

@threatmatrix

Why is it a bit tone deaf to cut back on riding lessons? It’s all relative surely? Cutting back is cutting back and I know a lot of poorer people who struggle for their child to go riding. I really hate jealousy.

Exactly.

Plus, if everyone cuts back on riding lessons, where does that leave the instructor and stables? Out of a job, presumably.

I have terminated my Virgin Media package. Their price increase was extortionate and I realised that I don't actually watch live TV, I record everything so I can watch what I need on ITV Hub and All 4 or Netflix. As I won't be watching live TV or anything BBC I can also get rid of my TV licence. I got a Broadband only tariff with TalkTalk therefore saving approximately £50 a month

[quote Benjispruce5]@CoastalWave I’m sorry to hear that. Do you have QTS? There’s a shortage of teachers.[/quote]
I do yes, But as a tutor, with no family support for childcare, I am FAR worse off back in the classroom. Hence why I went self employed in the first place. It may be i will have no choice though. As it currently stands, husband works all day and I work all evening and weekends. It's the only way we can afford to live.

Few people would prioritise a “posh car” or “ fancy holiday” over their children's education. They are either tied into contracts which can't be cancelled or they don't think you are much good as a tutor and cutting down on spending is an excuse. It's a lot easier to say you're trying to save money than it is to tell someone you don't think they're much good at their job or their children don't like you.

I can assure you I'm an excellent tutor! I was rated Outstanding by Ofsted on 4 occasions whilst working as a full time teacher and I have over 50 5* recommendations on my work page :) But thanks for offering that as a reason why they're cancelling me.