To not know what to do with this money?

[RedorBlack]

I gave up smoking last summer, after several failed attempts one finally stuck and I now realise how much money I literally used to burn!

It's approx £170 a month. I want to spend it on something to make my/my kids lives better or easier in some way.

For context I am a single parent with two small children who I share custody of. Work predominantly (for now) from home in a busy job. Live in little 3 bed house with an average size garden. Always tired at the moment and get quite lonely when the kids are with their dad.

My default setting has always been to save money so probably should just do that instead but feel like that extra money could help make some changes to everyday life. I just don't know what!

So AIBU to ask whether to save or spend and what to spend it on?

Why not spend it on family days out?

Save it.

Why not allocate say 70 a month for spending on extras and save 100

I bought a robot vacuum when I became a single parent and was shattered x

Firstly, really well done to you! And that is an amazing amount of extra money to have each month. I would spend it on family days out and also if you save if every few months then could afford a long weekend away at Butlins etc. Spend it on yourself and your children and enjoy it!

I was going to say family activities or a holiday but a robovac is actually life changing (not joking)

I'd put it into your pension.

You may not feel the benefit now but both you and your children will in your later years when you have more disposable income to support you (& them if need be).

Save it for now. Build up a reserve.

There will be ever increasing things to spend it on as your DC get older. Music lessons, clubs etc. No point spending it for the sake of it. Especially if nothing immediately jumps out to you as to how it could make your life easier.

My tip would be to check you have a decent and efficient vacuum cleaner. We just upgraded ours and the time it saves is astounding compared to having to go over everything three or four times with the 14 year old one we used to have!

70 for treats for the kids and you.
50 into long term saving
50 into the pension which you have given yourself a better chance to see!!

Well done you...x

But a dishwasher if you don't have one.

How about a cleaner?

I spent extra money on someone to do my ironing. She does it all for £20 a week. And £30 a month in the summer for a gardener to mow the lawns and tidy. I would of had a cleaner but they don't do what I want (I tried lots). So I looked at other ways to make my life easier. We have our food shop delivered, the ironing collected on a sat AM and dropped off sun PM, and the gardens are always neat and tidy. All life savers for me. I know others don't care about creased clothing or feel theirs isn't creased. Mine definitely is no matter what I try, and it is important to me in my work.
The other thing I would do is to put some away for the summer months for big days out. So I'd probably do £50 in to savings from sept-apr. So that would give £400 to spend. Can get 4 or 5 big days out to theme parks, or zoos etc for that. We would look to do one a month in the summer usually.

Definitely buy a robovac

Then annual passes to somewhere you love and save the rest? X

Well done for stopping smoking. How much disposable income do you have before the extra money and how much do you save?

If you don’t have much of either at the moment I would do a split of £50 for a family day out each month, £100 savings and the remaining £20 for any nice food you or your children fancy during the month.

Cleaner?
Meal boxes?
Holiday?
Family days out?
Robovac sounds amazing.

Have you debt to pay off? Have you a buffer of 3 months living expenses? You need that first. Then set a few short and long term goals. There are some good ideas already posted.

Annual pass to something good
Savings in premium bonds
Occasional take away or lunch out
Pay off mortgage
Occasional weekend away

Robot vacuum. Total game changer!

Thank you all for your suggestions so far. Robovac sounds very appealing! My hoover is so heavy!

One of the drivers for quitting was that I didn't feel I was saving enough/ putting into pension. I've since been promoted so am very lucky to feel I have those basis covered.

I would love a cleaner but struggled to find one that doesn't cut corners, but a gardener in the summer to keep on top of the lawns and weeds would make a big difference.

Definitely putting some to the side for days out, but between swimming, gymnastics parties and play dates the kids social life doesn't allow much in the time I have!

@Morechocolatethanbarbara

I'd put it into your pension.

You may not feel the benefit now but both you and your children will in your later years when you have more disposable income to support you (& them if need be).

THIS^.

Or, alternatively, or if your pension contributions are already maxed out, invest in a stocks and shares ISA via regular monthly contributions by standing order.

But I'd also keep a little back for occasional treats.

I spotted the always tired thing. Have you seen a GP? Always being tired is not normal. But could be iron/B12/Thyroid. Get some bloods done.

Half into a private pension. Half into savings with a plan to do days out with it and have a bigger buffer for emergencies when you need it like broken appliances, job loss or needing to take unpaid leave to care for sick kids.

save for a fab holiday!

170 could go towards the cost of energy increases to soften the blow.....

Pay for someone to help you at home, such as a cleaner, so that you don't have to face doing it and have more time with the kids!

Put it towards odd day trip, meals or cake out somewhere and fab times in school holidays.
You’ll all treasure those times.