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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:
Aprilx · 28/06/2023 15:38

MasterBeth · 28/06/2023 09:44

Not everyone shares your mindset about risk. I'm lucky to have built up savings and equity over time, but when our kids were young we didn't have a pot to piss in and had shitloads of credit card debt. But I didn't lay in bed at night fretting over it.

Show quote history

Well there is no point fretting about things that you cannot change. Birthday OP could have changed this and chose not to, they are financially irresponsible.

Aprilx · 28/06/2023 15:38

*But OP. No idea where birthday came from. 🙄

AndrexPuppy · 28/06/2023 15:39

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)

This

Original poster
3AndStopping · 28/06/2023 15:44

@Aprilx I don’t think we’re financially irresponsible ☺️ maybe to your standards but we’re all different. We have 1k in savings now and I’m comfortable with that. £300 isn’t a lot but it means the kids get to pack their suitcases and have a week of fun next month. Most ‘emergencies can be paid in instalments now days if needed. I’m not worried.

OP posts:
marshmallowfinder · 28/06/2023 15:45

Save it. £600 is nothing sadly to have put away.

Original poster
3AndStopping · 28/06/2023 15:45

We have £0 debt, 1k savings and a little holiday. I’m sure this is pretty normal for lots of working class families.

OP posts:
User13985094 · 28/06/2023 15:49

I would probably save it and spend it on something I really wanted rather than something now for the sake of it

User13985094 · 28/06/2023 15:50

I see you are going on holiday with some of it, that's good

MasterBeth · 28/06/2023 15:50

Aprilx · 28/06/2023 15:38

Well there is no point fretting about things that you cannot change. Birthday OP could have changed this and chose not to, they are financially irresponsible.

Show quote history

Oh no! Call the finance police!

MasterBeth · 28/06/2023 15:51

3AndStopping · 28/06/2023 15:44

@Aprilx I don’t think we’re financially irresponsible ☺️ maybe to your standards but we’re all different. We have 1k in savings now and I’m comfortable with that. £300 isn’t a lot but it means the kids get to pack their suitcases and have a week of fun next month. Most ‘emergencies can be paid in instalments now days if needed. I’m not worried.

You should worry more! Worry, worry, worry! How irresponsible!

Original poster
3AndStopping · 28/06/2023 15:52

@MasterBeth 🤣🤣

OP posts:
NoSquirrels · 28/06/2023 16:14

3AndStopping · 28/06/2023 15:45

We have £0 debt, 1k savings and a little holiday. I’m sure this is pretty normal for lots of working class families.

£0 debt is really great, and you can always add to savings every month from now on, as you’ve cleared your debt payments.

Enjoy your hols!

Original poster
3AndStopping · 28/06/2023 16:28

@NoSquirrels thank you, exactly! We were making £200-£300 debt repayments a month so can put that aside now.

OP posts:
ssd · 28/06/2023 18:53

Maybe put a bit away for next years insurance as its bound to go up due to your claim

Miajk · 28/06/2023 19:27

3AndStopping · 28/06/2023 15:45

We have £0 debt, 1k savings and a little holiday. I’m sure this is pretty normal for lots of working class families.

It's normal for the ones that poorly manage their money instead of thinking of saving, investing, etc.

Original poster
3AndStopping · 28/06/2023 20:18

@Miajk

It's normal for the ones that poorly manage their money instead of thinking of saving, investing, etc.

So everyone could be rich if they just saved harder/better? Is that you Rishi?

OP posts:
ssd · 28/06/2023 20:29

Exactly Grin

AHugeTinyMistake · 28/06/2023 21:01

NoSquirrels · 27/06/2023 19:01

£400 to emergency fund. Now it’s at a nice round £1,000 - so satisfying!

£400 on a trip somewhere fun - theme park weekend, a few nights by the coast, London, whatever floats your boat. What have you missed whilst you paid off debts? - that should help you decide.

I agree with this!

£400 is a good amount to have a fun weekend with.

Miajk · 28/06/2023 21:26

3AndStopping · 28/06/2023 20:18

@Miajk

It's normal for the ones that poorly manage their money instead of thinking of saving, investing, etc.

So everyone could be rich if they just saved harder/better? Is that you Rishi?

No, of course there are more factors at play, but always being willing to spend all your money and barely have savings surely isn't a smart way to manage your finances?

And the fact so many people on this thread don't see an issue with it shows that many people do put themselves in a bad position, buying and spending until one day they get stuck, while they could have been saving.

NoSquirrels · 28/06/2023 23:41

always being willing to spend all your money and barely have savings surely isn't a smart way to manage your finances?

I’m sure the OP would agree that being in debt isn’t smart - that’s why they paid it off. Which is great, isn’t it? And as well as paying off their debt, they saved £600 at the same time, a great start to an emergency fund. And now that’s £1,000 - even better.

Of course the ideal is 3-6 months salary or outgoings in savings. The thing is, you gotta start somewhere. It doesn’t happen overnight. And you have to keep living life whilst you save.

OrwellianTimes · 28/06/2023 23:55

Agree half to savings half for a special treat.

OrwellianTimes · 28/06/2023 23:57

Miajk · 28/06/2023 19:27

It's normal for the ones that poorly manage their money instead of thinking of saving, investing, etc.

Show quote history

Of course, if only the plebs stopped buying coffee they’d have masses in savings.

Its simply too flipping hard for some to have enough left to save.

LivesOnPigeonStreet · 29/06/2023 00:02

I'd go half to savings and half for fun. You could have a few very nice day trips for that or a weekend away. Probably I would go for the day trips over the summer.

Miajk · 29/06/2023 08:40

OrwellianTimes · 28/06/2023 23:57

Of course, if only the plebs stopped buying coffee they’d have masses in savings.

Its simply too flipping hard for some to have enough left to save.

Show quote history

But it's not for OP who has £800 extra to save. You're missing the point on purpose.

I've worked years on minimum wage and then on not much more and I certainly wouldn't be comfortable now if I blew my money every single time. I don't know why people hate taking any kind of personal responsibility/accountability for spending and never saving.

User13985094 · 29/06/2023 10:03

OP has saved some of it though, the other part is going on a holiday which is often what people use savings for, isn't OP meant to have a holiday, I doubt she has many more, if any booked this year.