Be sensible or be frivolous

[ChocBanana]

Apologies if this comes across as crass in the current situation but I recently lost a few people in my life (five in the last year, ranging from a child I knew through work to a very close friend and three elderly relatives).
I’m very much of the opinion now that life is short and we should live it to the full.

So here’s my dilemma. One of the relatives left me £10,000 in her will. I have cleared all my outstanding debt (not mortgage, but credit card, car loan and finance on various appliances).

I have set up a savings account and am paying £100 a month in from my wages to hopefully avoid future “eek, the washing machine broke, must get credit” situations.

I have £500 left.
I could put it in savings.

I could chuck out/donate all the clothes I no longer wear and get a new work wardrobe, starting the new year with a positive outlook (my issues have led to work dragging me down recently so I’m looking for a fresh start).

OR, I could follow my childhood dream. I always wanted to be an actress when I was younger, but it wasn’t seen as a realistic option and I wasn’t encouraged to. Then as I got older it seemed like a childish idea and as we don’t live near any major cities, it was a pipe dream. I tried am dram but the only local groups will only accept people with experience.

Now, a professional actor has set up his own adults only acting school near me, and it’s within my reach, the times of lessons are manageable and within my £500 budget.
It’s obviously not professional at that price but I know people who have done the course and are now getting work.
I have no intention of dropping everything and running away with the circus, but my heart says book the course, my head says don’t.

The thing that keeps playing on my mind is that the last time I saw my friend, when she knew she was dying (but I didn’t) was “I think procrastinating is the worst thing I ever did. If I got my time again I would definitely do more and take more chances.”

But also, there’s a lot I could do with £500, and there’s no point me saying I will save up for it, because the savings thing is to avoid more debt so I will never be able to justify spending it on this.

So, my AIBU question is this.

Am I being unreasonable considering chasing a childhood dream (at the age of 53)?

Think I'd do it.

You are living and to mouth anyway, so the £500 savings isn't going to make a lot of difference to your life (and if you stick with the £100pm you'll have soon replaced it - is this £100pm everything you were spending on debt servicing? If not then increase the regular savings to that amount).

How will you feel if you do the course and then can't get anything from it (am-dram or paid?).

I am surprised am-dram won't accept you, but have no experience in this. Have you tried others?

I think, in your position and given how you feel about it (from what you have written which seems heartfelt) I'd probably go for it.

And I say this as a saver.

hand to mouth (oh for an edit funtion)

You have already been sensible.OP. Do it.

Absolutely do it. Follow your dreams. I’m excited for you!

Yeah sure, why not. You've already done the sensible stuff so it's not frivolous.

Do it!

@Chasingsquirrels I was paying £225 in debt repayment, but I decided that £100 in savings and £125 more cash flow was better, because we have been struggling for money and it should give me more flexibility with rising costs etc.
But I can increase the savings amount at any point, so I am giving it till Easter to see if I can manage on a bit less.

I'd go for the acting.
You've been sensible with 95% of the money, you should absolutely treat yourself, in whatever capacity that means to you, with the rest of it.

Particularly as the only other alternative you've suggested is possibly getting some new clothes - who is going to look back on their deathbed and think "oh yes that blazer really changed my life?" You can still have a bit of a revamp anyway - go through your clothes, chuck out the oldest ones, try to wear some you haven't worn for a while, commit to buying something new each payday - look on vinted or depop to get brand new stuff with tags still on.

The acting thing doesn't even seem particularly frivolous - it could possibly lead to new work but even if it doesn't stuff like that is good for self confidence, could meet new friends, supporting a local business etc. Its not like splurging the last 500 away on a holiday or 1 pair of shoes (although tbh I'd probably agree you should do that if it's what you wanted!)

You've answered your own question. Do the course!

There is no point in constantly saving for the future if you are not living in the present. I'd prefer a shorter more fulfilling life that to eke out my days in frugal safety.

I inherited a bit of money - spent a lot of it in necessary house repairs and living expenses for DC during uni. But I have finally spent some on myself and am going on a trip of a lifetime. DH didn't want to come so I am going alone and can't bloody wait!

Op, go for it!

It's money you've not had, a lifelong dream and you'll probably never get another chance!

Even if nothing comes from it, you'll have enjoyed doing it!

Normally I’m hoping up and down on these threads shouting “MORTGAGE PAY MORE OFF YOUR MORTGAGE”. But I think feeding your soul a bit is a good thing. Do the acting classes.

Do it.

Please don’t spend it on a new work wardrobe. That would be a true waste of the money. In another year, you’ll be wanting to chuck all those new clothes out too. What you are wearing is not going to improve how you feel about work.

If you really need new clothes, try Vinted or charity shops. But use your £500 on the acting course.

I'd do the course! It sounds like something you've always wanted to do.

I am a saver.

However you have been responsible and ‘saved’ the other 95% (£9500) of the money, and in doing so, moved yourself out of your financial problems and set yourself up well to cope with future issues.

Yes. I would like you to say you already had an Emergency Fund of £1000, and now the direct debit of £100/month was going toward adding to that to increase it to an Emergency Fund to the amount of 3-6 month expenses.

However, having been so sensible with 95% of the money, I think the 5% on something you love and are passionate about is good for your heart and your soul. Especially as this was an inheritance, and that money always comes with mixed feelings.

Do the course with a light heart, OP. But continue to save the £100/month!

How long is the course? Please update this thread when you start speaking that we know you have gone for it!

Listen to your heart, OP. Even if you don't have an acting career, you'll have a lot of fun and fulfilled a dream.

I'd do the course.

I'm astonished that the local am dram only take experienced people!

One of my relatives was scouted as a model in her 70s and got a lot of work even in music videos. As a younger woman she likely wouldn't have been.

Follow your dream OP.

Couldn't you do both? Put the £500 away. You should have some kind of cushion. Have a frugal January and February and save the full £225 so it doesn't just disappear on nothing.

If you pay your council tax over 10 months you'll also have a bit extra in February and March.

Sign up to the course for around end of march if you can?

Is there any way to secure a future place with a deposit so you are committed but have a bit of time to save up for it?

Then it is a great incentive to get you into better financial habits with your additional monthly money, something to look forward to and is likely to be great for your confidence, even if nothing professional comes from it.

I think putting all the extra into savings and only taking out if really necessary is more effective than hoping you'll have more than £100 left at the end of the month.

@Whatwhatwhatnow there are two local groups within a reasonable distance, one is a closed shop and the other is really popular (because the other one is so cliquey I think) so it’s hard to get any parts. Also, they tend to do musicals and I can’t sing or dance!