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?

Congrats OP what an amazing thing you've achieved! Many try and get nowhere.. I'd buy a robovac first, then save say £100 of the extra funds and spend £70 on something to make things easier for you so you have more time with DC when you're not tired or doing wife work stuff. Like a gardener or cleaner - my life has changed since I got a gardener, £20 ph (in London), does a 2 hour session every other month in winter then 3 hours monthly from March to October. No more mowing, pruning or weeding, and I can concentrate on making the garden an outdoor livng space for those days when weather permites, or just pleasant to look out on from the window.

Depressing most of it will be swallowed by increase of utilities and food

Well done OP! Giving up smoking is HARD. I gave up 3 months ago so know exactly how difficult it is. You’ve put in all the hard work for this so treat yourself 😀 I bought myself an Apple Watch but now my cig money is going in the saving pot.

Whatever you choose to do with the extras, enjoy it 🙂

Ooh, save up and take the kids to Brazil on a boat down the Amazon! I've been watching Green Planet and it looks extraordinary.

Split it - pleasure (spend), pain (save - though also hugely satisfying). How about involving your kids and asking them to plan a great day here and there - you choosing what to do with half of the ‘spend’ pot and they choose the rest. My kids amaze me when I ask them to plan their perfect day - it usually involves my time, the park and ice cream. Oh and a huge well done for giving up smoking - amazing x

Firstly well done on giving up

To be honest before committing it to new expenditure or hopes of holidays etc, I’d just stash it for a few months to see what the impact of the April tax rises etc are on your regular finances.

I agree with the PP who said to put it away for your retirement.

One of the very best things you can do for your children is to plan for your own old age. I cannot tell you the security it gave my brother and I to know that our parents were always be able to 'manage' financially, even including end of life home based care for Dad and a memory care facility for Mum. And I've seen to it that DH and I will be able able to do the same.

*I'm in the US and I understand that care may be more 'supported' via the NHS and other programmes in the UK. Here, there is nothing.

£100pm on a clearner. Honestly life changing. Even if that means fortnightly. Then the rest on days out if you really are sure your pension is ok.

Invest* £100 pm & do nice days out or save the rest for a holiday.

• invest either in a pension or stocks & shares ISA, its tax efficient & will make you money. Bank a/cs will barely pay interest 0.1% so your money is effectively going down over time.

@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).

That sounds like great fun

I would put it into a designated fun days out and holiday account.

Well done! It sounds like you have pension and living costs Covered?

I would split it - some to be spent on a holiday with the children and some to be spent on looking after yourself, whether that's books, gadgets like the hoover that make life easier, or hobbies Or trips with friends

Instead of a cleaner how about a deep clean every so often.A whole morning with 2 people that clean from top to bottom.A gardener 2 hours a week in the season will give you much more free time to enjoy.Enjoy the money but spend it to make your life easier.Tasty ready meals a couple of times a week ,salad pots anything to ease the pressure.

That's a lot of extra cash. Well done

I would build up a buffer of savings as an emergency fund before locking cash into a pension or spending on treats

Then, (1) gardener or robot cleaner would be good, to allow more time with your children, (2) holiday would be nice to look forward to, (3) annual passes can be good value for money eg soft play, (4) reward yourself with something / treats for YOU. Maybe go to visit friends when yiyr children are with their dad

Thank you everyone for your views. Seems like a mix of spending and saving is the way to go.

I'm going to start with an oven clean. In the summer I will definitely look at a little regular garden maintenance- that's my least favourite job! And in a month might book a deep house clean. I really know how to party don't I?