To Spend £1345 on a Set of Earrings ?

[Moaning5]

My dad has just gifted me £2000 - how nice !

My parents have NEVER gifted me money in this way. He’s done something with his pension and given all of us (4) the same amount.

I have no real savings to speak of other than an emergency fund. I have no mortgage to put it towards. I have grown up children who are independent. I have no debt to clear.
AIBU to pay £1345 for a pair of gold hoop earrings with pear drops as worn by Princess Catherine which I have always loved ?
Or am I being ridiculous and it needs to be be spent more sensibly ? On what though ?

@Moaning5

If you have never got any spare money, other than a bit of an 'emergency fund' then why on EARTH would you spend most of the £2000 your father has 'gifted' you, on a pair of earrings?!

Also, why did he just give you £2000?

Buy the earrings and enjoy wearing them. Just declare them on your household insurance just in case you lose one. How lovely of your dad! 🥰

I would keep it for more practical stuff and buy cheaper earrings. With limited savings I couldn’t justify spending that amount on earings.

Life is short, if the earrings bring you joy then buy them! 🤩

Buy them, wear them and love them.

Personally I would invest the money. No savings and buying an enormously expensive pair of earrings is insanity. As a parent of adult children I would be so devastated if I gave them money and they did this.

It’s earrings, millions of alternatives that you wouldn’t even know. I would get something a bit more useful.

I think it’s a splendid idea. Something you love and will treasure and could be passed down in the family. I can’t think of a better way to spend an unexpected treat.

I spent a ridiculous amount of money on some diamond earrings when I got made redundant a couple of years ago. I had secured a new position when I left the company and I wasn’t in any debt/no mortgage etc kids on cusp of leaving home so could justify it. I can’t tell you the joy I get from the earring every single damn time I wear them and I know it sounds childish but I call them my revenge earrings. Live well and with joy at every chance you get.

Spend a tenth of that or under on a good dupe and use the rest to start savings.

You should save it.

Yes go for it,
you will wear them for years and years, and bring you so much joy.
and if they are gold they would certainly outperform many FTSE stocks.

If this is the first time, he is allowed to gift £6000 and £3000 in subsequent years, as the previous year's unused allowance can be rolled over. But this rollover can only be done once.

https://www.gov.uk/inheritance-tax/gifts

"Annual exemption

You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’.

You can give gifts or money up to £3,000 to one person or split the £3,000 between several people.

You can carry any unused annual exemption forward to the next tax year - but only for one tax year.

The tax year runs from 6 April to 5 April the following year."

So he could gift £6000 this financial year (using the £3000 rolled over allowance from 6 April 6 - 5 April 2025 plus this year's full allowance of £3000), followed by up to £3000 between April 5 2026 - April 5 2027.

Hi OP
Buy those beautiful earrings.
When my son was young and I was living on an overdraft whilst working ft, I was gifted afew thousand pounds. Paid off my car loan and went on holiday to see family in the states.
Lovely experience and memories with no regrets.
Enjoy your beautiful earrings

No because they are actually worth a fraction of that. If you are happy to write off the money then go ahead

The mark up on jewellery is enormous and like a car, they lose a huge amount of value as soon as you buy them .

I was thinking that. It's not like blowing it on a holiday. If they are timeless pieces they can always be sold on, so won't be a total loss.

ai real life i’ve never met so many people that are obsessed with their pensions.

We also need to live life a little too. My mum died at 61 so she wouldn’t have benefited to hiding away money for that all important retirement. I earn )30k i don’t need an epic pension, mortgage will be paid at least 15 years before i retire and we have small outgoings. I save and i have a NHS pension. Sod not enjoying life: you can do both without being so miserly.

@Moaning5 discuss with your dad and if he is happy go for it. He may want you just to enjoy that gift.

No I wouldn't. Maybe £200 on something frivolous and the rest saved.

Why does he need a reason?

You really do need some savings.

Earrings are a funny one because you actually can't see them unless you look in a mirror! I think a bracelet would be better as you can see that.

I'd spend half and save hard then get into the bmhabit of saving. Even £5 a week is better than nothing.

I had some gold jewelry appraised recently, they are worth x3 original price. Vintage Gold and watches are doing so well lately.

I would not because what if you loose an earring so easily done!

How big is the emergency fund compared to your monthly outgoings? You should aim to have at least 3 and ideally 6 months cover.

No mortgage because it's paid off or because you have no hope of ever getting one?

You can blow the money on anything that gives you pleasure but earrings are easy to lose.

YABU for using the word "gifted". Twice.

It would be a no from me as I have a habit of losing one earring.