Do you consciously think about everything you spend

[thehungryteacher]

How much unplanned spending do you do and does it bother you?

Like a coffee out with a friend or a buying a drink in a shop because you are thirsty?
Or a new pair of tights or face cream.

Would you pop in to a pub and spend £30 on lunch?

I do when I'm in a shop - I put a (pretty ordinary) bar of chocolate back in M&S yesterday because the price has crept up to £3.50. £3.50! For a bar of chocolate! FFS get a grip M&S! But then I've just bought a very lovely marmalade and gingerbread candle online and somehow that doesn't count.

I don’t think about the little stuff like coffees out in terms of whether I can afford it, but I do avoid spending money on stuff I’d enjoy just as much if I made it myself at home.
Eg, yesterday I spent money on a very boring cheese sandwich while out and about, and that irked me because if I’d made it myself, it would have been a lot tastier!

Hmm, I do in that I am aware of how much money i have and I budget a certain amount for frivolous spends. But I do not grudge spending money on a nice Caffe Nero coffee on my way to work. I have codes where I get one coffee a week for £1, and 25% off the rest of my coffees. I probably spend £8 a week on takeaway coffees but I enjoy it and can afford it.

We spend a lot on food but we like nice food and again, we don't get into debt for it.

So yeah, I have done the thinking and I'm aware of what we're spending, but I have decided we like them enough to justify the spend. We don't eat out ever really, because for me the £110-£130 it would cost is not worth the money when we cook nice things at home, and I'd rather spend it on something else.

I always try to get the best deal and maximise how we spend money. For example, I have complicated skin and the only moisturiser that really works for me is LRP likipar baume, at £25 a bottle. I am about to go collect a Boots order where I had activated a double points coupon, the cream is three for two and I made the purchase through a cashback website. So I don't deny myself what I need (or want) but I am careful about not overpaying.

During covid one of the things I missed most was going to meet a friend for coffee and cake. I swore that when things reopened I would not grudge myself the money for things that brought me a lot of happiness. I live by that now.

Sometimes. Then sometimes I think fk it. I've been a bit more fk it recently due to personal circumstances but I need to reign it in again now
In fact my job today is to update the spreadsheet with our spending this month to see where we are at so i still track it all

No. But I’m over 50 and we earn good salaries. I did when it was in my 20s.

I have disposable money set aside each month and once it's gone it's gone, so I buy new jeans I have less for coffee, but tbh I rarely spend it all (it is a generous amount I'm fortunate to not be counting pennies) so that goes in a pot separate to other savings so if I have an expensive month or a couple of events all together I just dip into that. I don't think about things like coffees, new tights, an ice cream on a walk. Lunch out I would if it was multiple times a month but it's not usually.
Bigger purchases I research make sure I'm getting the best for my money, see if there are discount codes available etc, but will balance with my preferences. So recently bought a slow cooker, could get one the size I needed for under £50 and the last one was like that and lasted nearly 15 years, but this time I've got a ninja one, got it for just under £100 with various discounts, rather than the £150 usual price. It slow cooks, sears, it's a steamer, I made bread in it this morning. It also has a timer so when dinner is done it will switch to keep warm which with work and life is useful, so for me that was the right option and we can afford it. It's a balance

Yes, depends what it is.
Today I need to go and visit my son quite a distance away,due to my Parkinson’s a taxi across London, expensive and won’t cope with underground well, hardly go, and don’t drive

Yes. Even if it's something I can easily afford, I consider whether it's good value for money.

I will buy anything I really want but won’t waste money. Shop around for best deal. Sell what I’m not using.

Yes, I think I always will - as a student and when I was first working I genuinely had to, and in fairness I have never achieved the sort of six figure salary where you are basically looking for ways to spend money. There have been times I would have been in trouble if I hadn't saved and been prudent, so now I can't stop being prudent. I still spend money on things I enjoy, but I never spend carelessly.

No, I don’t think about it all really. I realise it’s a fortunate position to be in.

I'm trying not to be and treating myself now and again.
It's a bit ingrained though and I find it difficult to spend money on myself.

I've recently bought a much needed pair of Scarpa walking boots with lovely soft leather whereas before I would have bought cheaper ones that hurt my feet. Figured life is too short and I'm working so why not.

Yes and no - I’m very aware of my money and where it’s going / where our household money is going. I started working when I was 13 and have always been a saver.

But at the same time I’m at the stage where I earn far more than I ever thought possible given my position just a few years ago and I love the freedom of being able to do things without thinking about it. So I’d never question a coffee or a lunch or a dinner but anything above £100 I don’t tend to impulse spend on.

Yes, and I have always been like it, regardless of my income. Until very recently I was single parent/single income household (although a reasonable income). I now live with a partner and our household income is about 85k a year but my mindset is the same. Every penny has a job.

BUT that doesn't meant I never use a credit card or finance. I have. But it's always been a very conscious budgeted for decision and never where interest is due.

I don't think my mindset is particularly healthy, it causes me a lot of anxiety. I'm terrified of being without money due to my childhood, but also as I get older I realise my parents and grandparents also had this mindset and it never left them, so even when the time came when they could have enjoyed a little bit more freedom, they still overly restricted themselves. I don't want to be like that either.

I used to monitor this kind of spending but went up to full time hours last year and so have around £1000 per month extra - I save a chunk but then with the rest think “fuck it” and so treat myself and my DDs when we’re out and about. So we will have coffee/shakes and cake usually one weekend day and pick up treats like a cheap nail polish/lipstick etc. Also might buy house stuff e.g new cushion covers/candles that kind of thing. I have one magazine subscription that I really look forward to every month. We don’t get a lot of takeouts mainly because I don’t really like them.
I spent a long time scrimping whilst part time and now think life’s too short. Luckily though I still know all the dupe stuff so for example wouldn’t dream of paying for a new branded perfume when I could get it from PP instead. Or I would always look for the cheaper option for a new coat or boots. Go to TKMaxx/Home Bargains etc. Some habits never die.

Great thread !

@Pocketfullofdogtreats are you like that because you are on a tight budget or is it just habit ?

@JLT24 what bank has this app please ?

I can see some sort of "spending analysis " on my baking app that divides my spending into categories but no actual way of allocating a budget .

@JLT24 how much is you in your unallocated pot

It varies each month but I try to have at least £100 a month. In my budget I have £800 a month ‘fun money’ but some of that is allocated to paying for things I know I’ve got on that month eg hair appointment, planned days out, gifts I need to buy etc. The rest will be unallocated. If it’s not spent I carry it forward to the next month. So on pay day I split my money into various pots
Bills - Monthly
Savings (usually holidays and house jobs)
Sinking funds - Annual bills
Allocated fun money
Unallocated fun money

Occasionally if I don’t have any unallocated left I’ll ‘borrow’ from savings and put it back the next month.

Starling

Yep 6 figure income, multiple properties, savings in 6 figures and I do not buy anything without trying to get the best deal or weighing it up

I put Asda nappies on my babies, bulk bought wet wipes from Amazon and only buy the children books from charity shops

However - we have a lovely, large home, holiday 5 times a year and have 2 nice cars in the driveway*

*I drove to England to buy my cars because it was cheaper than NI. Cost me the flight and the boat back but I saved £8k and was home within 24 hours

Yup

Not really. I meal plan carefully and buy a shop for the week so I try not to pop to the shops in between as it’s easy to spend £30-£50 without meaning to and it all adds up! Having said that, I won’t think anything of popping to the shop with my kids for a drink as a treat, or nipping out for coffee. I don’t really go out for lunch much so wouldn’t do that impulsively and am careful about what I eat so that helps with spending - takeaways etc. I think I’m careful with money because we work hard for what we have an would prefer to save so we can do work on the house, treat the kids etc, but I do like buying clothes and we love a trip to the pub. If I do pop to the shops though, I don’t really add up what I’m buying or worry about the cost.

I don’t do a great deal of unplanned spending really. We have a planned weekly takeaway which costs £30-40 a time. A coffee out might be once a month. I try to plan going out shopping around having food at home. If I did buy something it wouldn’t be a sit down lunch. I am lucky in that I can afford to spend more, but the saving and being careful mindset is hard to break. The weekly take away is probably our biggest unnecessary indulgence. I’m not a big consumer in any other way.

Yes, I'm aware of everything I spend. I might still choose to spend but I would always consciously think about it. I would never spend more money than I could afford unawares.