What would you spend £800 on?

[3AndStopping]

I know it’s not a huge amount of money. But we had a small pay out and after paying off debts it’s what we’re left with. We don’t usually have this amount of disposable money so should we…

A - do some house renovations

B - take the kids on a modest unplanned holiday

C - keep it incase if emergencies (we have approx £600 in savings, currently.)

WWYD?!

B for me!

Half for a day/ weekend away and the ither half towards the house - plastering is expensive!

Our last week away in feb half term cost us £375 you could totally have a week away in this country in a nice self catering cottage/lodge for the £400.plenty of time to save some holiday spends too! Might not stretch so far in the summer unless you like camping & already have equipment! Then save the other £400

C.

£600 in savings is very very little - best practice is to have at least 3 months’ worth of living costs saved. You also need to consider why you were in debt, would having the extra £800 have avoided getting into debt in the first place?

If I only had £600 in savings I’d put it all away. £1400 isn’t a lot for emergencies.

Holiday. Every time. EasyJet just put next springs flights on and theres some super cheap flights

I'd put it in the savings pot

Save it

Save it! With only £600 in savings how can you contemplate doing anything else?! Unless you’re literally falling through the floor you don’t need to do flooring until you have a proper responsible buffer set up.

You would go on holiday if you only had £600 in savings? This is why some people will never have any money. They spend it as soon as they get it.

There are 2 types of people… 🤣 I’m still deciding which one I want to be 😆

I'd be saving that £800 and redirecting your normal debt payments towards a proper emergency fund.
Then once you've got at least a month or twos expenses banked you can start thinking about holidays.
£600 between you and disaster is fuck all really.

This, sorry.

If I was you I would half in savings half on a lovely weekend break/days out.
personally I would use it for next years holiday deposit

Holiday

£600 in savings is essentially naff all in the case of a job loss or emergency. Sorry to be blunt but it's true. I would put the money in savings, re-work your budget now that your debt is gone - this should include a small amount for fun and a regular savings amount.

£400 to savings to round up to £1000

Then I’d use the rest on a deposit for a holiday for next year and you can pay off the rest monthly

Be the saver! Having a cushion of money is the best feeling in the world. I grew up without much money. As soon as I was earning a decent salary, I saved as much as I could. I didn’t want my children ever to worry about money. I did and it’s crap!

This. Definitely C

Set up a savings account and put the money away. Then add as much as you can every month until you have at least three month’s salary saved. There are some reasonably good rates atm. First direct is 7% and NatWest is 6%. Obviously you have to pay tax on the interest but it will still be about 4-.4.5% ish.

I wouldn’t take on any more debt for renovating the house or any other reason.

I would also put it all in savings and build up a good safety net and then save for the renovation work and anything else you need like Christmas or next year’s holidays.

I’d save it, given you’ve got low savings for a rainy day. Boring but best thing to do

Collapsible mobility scooter for my husband to expand his world

Another one who would save it all if I only had £600 in savings.

If it came my way right now, and I had to spend it or lose it, I would buy a new mattress. Current one has been going 30 years!

Save half and treat yourself with the other half as a nice compromise.