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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

What would you spend £800 on?

155 replies

3AndStopping · 27/06/2023 18:54

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?!

OP posts:
Talia99 · 27/06/2023 20:00

sittingonacornflake · 27/06/2023 18:58

With just £600 in savings I think you'd be mad not to put it all into savings (sorry)

Sorry but I have to agree. Maybe spend £100 but the rest into savings for an emergency.

Tangled123 · 27/06/2023 20:01

I wouldn’t spend it now unless there was something I really wanted already. I already have my holiday for this year paid off and don’t really need anything so I would keep it maybe for next years holiday or for my next big bill (I’m boring).

Original poster
3AndStopping · 27/06/2023 20:02

@FelixDoublyDelicious oh felix this made me feel really awful. Is there not government funding for this?

OP posts:
Bartlebum · 27/06/2023 20:04

Save half
Spend half

See how much you can get for £400, you might find it can stretch pretty far - a couple of cool days out, a nice weekend away, or a week camping.

Miajk · 27/06/2023 20:07

3AndStopping · 27/06/2023 19:35

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

This is why I find it hard to believe people on MN when they moan about being poor or living pay cheque to pay cheque. 90% of the time it's self inflicted.

You barely have any savings and you're considering spending this money. If your boiler goes or another emergency happens you'll be back in debt.

Zippyyyyyy · 27/06/2023 20:07

Spend half & save half.

This topping up your savings to 1k and with £400 spends you could do so much; An extravagant day trip out or an experience, a fun Air b and B stay, camping or long weekend somewhere?

dudsville · 27/06/2023 20:10

Since you only have£600 in savings this is an opportunity to boost that. Personally i would squander on a fleeting moment of happiness. If you squirrel away bits and bobs and little windfalls like this it adds up to something you can really use. In the meantime this just gives you a rainy day fund. 100% team savings!

dudsville · 27/06/2023 20:12

Typo! I WOULDN'T squander!

NotYourHolidayDick · 27/06/2023 20:12

Jesus Christ I'm a liability. I have no savings. I'd blow the bloody lot on funzies 😂

I have ADHD though and planning is not my forte. Fun all the way.

Peppadog · 27/06/2023 20:14

Honestly with only £600 in savings it would go straight into the savings pot.
Having said that, if I felt the kids hadn't had a treat in too long time then I'd plan a trip away as I think making the most of children's young years and having lots of memories is more important than saving.

BananaOrangeApple · 27/06/2023 20:16

You don’t pay tax on the first £5k interest…there’s no way OP will hit that with it all in savings

Nevermind31 · 27/06/2023 20:16

I’m not sure how much of a holiday or house renovation you can achieve with £800, so I would put it in savings - but I do like to have a buffer

Arewehumanorarewecupboards · 27/06/2023 20:17

I must be the only person who gets excited about paying into my savings accounts.
I divide whatever amount I have across three accounts: emergency fund, Christmas and holidays and love seeing the numbers go up.

Hbh17 · 27/06/2023 20:19

For me, dinner and a night's stay in a good London hotel. For you, OP, anything that you define as fun, so that would be B.

Yousee · 27/06/2023 20:19

Peppadog · 27/06/2023 20:14

Honestly with only £600 in savings it would go straight into the savings pot.
Having said that, if I felt the kids hadn't had a treat in too long time then I'd plan a trip away as I think making the most of children's young years and having lots of memories is more important than saving.

I would agree if OP had pots of money but actually I think the most important thing a parent should be aiming to provide is financial security.
You can still make memories next year once there's more than £600 between your kids and disaster, OP!

WhimHoff · 27/06/2023 20:20

Save £600 and spend £200 on summer holiday fun.

BananaOrangeApple · 27/06/2023 20:21

I’d 100% save it £600 wouldn’t cover a lot, boiler break down, emergency repair, broken phone etc….you’ll be right back into debt, and paying interest for the privilege. Plus with everything going up and the COL crisis it’s probably a good idea to have a bit of money put aside.

Bewilderedandhurt · 27/06/2023 20:22

Please save it...... If as you said about £800; "I know it’s not a huge amount of money" then your savings are even less at £600, I which case you should save this money so that you have a buffer when you need to purchase things not covered in your monthly budgets.

Chickentonights · 27/06/2023 20:24

£600 is really not a lot of money and neither is £800 to be honest! I would save most of it, with a view to planning a couple of nice days out in the summer holidays, knowing it might make life a bit more comfortable in the future.

IDontWantToBeAPie · 27/06/2023 20:42

Save it. If you built up debts that means you sometimes don't have the money for extra expenses. Put it in a decent account with good interest (which is at a current high) and save until you need it with the added interest

Original poster
3AndStopping · 27/06/2023 20:43

@Miajk I don’t think that’s fair. Sure we could save all this money and then the boiler could go like PP’s have said, or something with the car etc… and wipe it all out completely anyway?

Then we either don’t take our children on holiday ever or go into debt to facilitate it. What’s the difference really?

I think the sensible approach as PP’s have said is to save half/spend half. So we up our savings a little but also give our kids (& us!) a bit of fun. Then if the boiler goes we only have half the debt but have had the fun!

We’re not in a situation where realistically we’re going to save substantially and spend at the same time. I think that’s reality for lots of people…

OP posts:
FanFanBam · 27/06/2023 20:43

C

LuckOfTheDrawer · 27/06/2023 20:45

The sensible thing to do would be to save it all for now.

Arewehumanorarewecupboards · 27/06/2023 20:48

What was the debt that you paid off?
Are you likely to get back into debt soon considering you have low savings?

IHeartGeneHunt · 27/06/2023 20:50

Half on a shed and the other half towards a holiday.

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