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 ?

I must admit, me and DH had naff all savings at 45, and about £20K of debt! (2 DC close together! Both went to Uni together as one had a gap yar. That was a fun time!!!) Also, the bloody house always seem to need something doing to it, and it was a large 4 bed, and expensive to heat and maintain!!! Both had average paid jobs.

But just over decade later, both DC left some years ago, and we are both in better paid jobs, and have no mortgage, and downsized 10-11 years ago to a smaller home. Less maintenance costs, lower bills, had a decent amount of equity...

We are now comfortable, and reasonably solvent. No debt. (Paid it off with some of the equity on the house!) Got a decent pot of savings...

But yeah, you're right, it's not good to have no savings. Some people just squander money and are poor with their money management. But some can't help it, they just don't get paid an awful lot, and have kids and high-ish outgoings, and it only takes one or two big financial hits and they hit the skids!... Being broke/in debt isn't always the person's fault....

As I said earlier though, if I was broke/had no savings, I would never spend a windfall of £2000 on a pair of earrings. I'm sorry but that IS irresponsible (IMO.)

Is the OP coming back?

You already have an emergency fund. Is it actually enough for an emergency? If not I'd top it up.

You don't say why you don't have other savings. If it's because you always wanted some but didn't have spare funds, now's your chance to start. If on the other hand you don't see savings beyond your emergency fund as important, you're not going to change your mind now. £2000 isn't just a drop in the ocean but it's not really serious savings either, and if you're not going to add to it then I'm not sure it's worth setting aside.

Savings will give you a feeling of security. Earrings will give you pleasure and a feeling of connection with your dad. If you already feel as secure as you need to feel then I'd definitely go for the earrings. Otherwise I'd buy something lovely, but frivolous and smaller, and save the rest.

The OP didn't say what her emergency fund is though.

Is it £500? £1000? £3000? £5000? £10000? £20000?!

If she had said how much it was, it would be easier to say if squandering £2000 on a pair of earrings was reckless or not.

Buy them . But do check your insurance as you may have to declare them as valuables to be sure they are covered

you're crazy if you do this and you have no savings.

It's a lot op when you've only an emergency fund ... I'd be inclined to spend a couple of hundred on some nice dupes and then save the rest so you can enjoy retirement when the time comes. Depending on how much is in the emergency fund I guess. If your boiler needed replacing tomorrow could you do it or would it leave you broke.

God no I would never waste that much on jewellery.

If you don't buy something with it I'll just be spent on bits and bons and you'll have nothing to show for it. Definitely get the earrings

Buy the earrings, it is a gift from your dad and something to keep forever.

It's wild how much people differ from each other. Someone upthread said that they would never spend that much on jewellery and then suggested a holiday. Now, I'm biased, because I LOVE jewellery almost more than anything in terms of things that you might buy for pleasure, but you really can't just pronounce it a waste as if that's true for everyone! I dislike travelling, and although I do like the occasional holiday, I consider travel to be a waste of money. It's SO expensive, and you can learn about foreign lands from books! And I really object to the way that you spend all that money and then - poof! - what you've bought has disappeared into the ether. I get that you have the memories, but those are some blimmin expensive memories.

Jewellery, on the other hand, lasts FOREVER. You can hold it and look at it and wear it just as well on the fortieth year of owning it as well as you can the first time you see it. And then you can pass it down. When I wear my favourite jewellery, I feel amazing, and I like to polish it and look at it. I get so much pleasure from it. The sparkles remind me of the sun glittering on the sea.

So to me, travel is a total waste because it's soon gone, but jewellery is something that gives you pleasure every day for decades!

We are all different!

Clear to see why you have no real savings if the first thing you think of to do with a windfall is spend it frivolously.

What will you do if the boiler breaks, you lose your job, are of long term sick or all the other curve balls life sends us? A pair of earring won't help you then.

Nothing wrong with spending that on earrings IF you have the means, but with no savings you possibly don't.

She did say that she had emergency savings, and anyway, with good brands like the ones Kate wears, she can always sell the earrings. Especially since Kate has made these a famous pair.

She's also got years of earning power ahead of her to save!

And if she wears them most days for at least a couple of decades, cost-per-wear is negligible!

I would probably save the money but I’m a saver generally. I would find imitations of the earrings too. I wonder how many people even notice earrings to an extent that they can spot real and fake ones. But if really set on them I would wait until the Boxing Day sales and see if they are reduced. What a lovely amount of money to have been gifted by btw.

Given the incoming budget which is likely to be a complete shitshow, I’d save it until certain it won’t be needed…

Not having a mortgage puts the OP in a much stronger financial position than most of Mumsnet, Even if she is long term sick, loses her job etc.

Gold could be seen as an investment. It continues to rise in value!

She has an emergency fund : that is savings! she also has no mortgage so unless she is renting she has security. Not everyone saves thousands upon thousands some of us don’t earn enough!

ETA

Its £2k that’s not going to enhance her life drastically if she saves it anyway.

I think things like jewellery is such a nice thing to splurge on because it becomes a family heirloom that’s passed down for generations. That money is not a one time use, it can be a gift for one of your children, then their children etc - so that expense works out priceless in the end.

i have a beautiful gold necklace charm that was my grandmothers when she was 18, then my mums at 18 and I recieved it at that very age too. I plan to pass it down to my son when he’s 18 also - so that expense my great grandmother paid originally really means nothing in the grand scheme of things

These are the earrings, for those who are curious: https://www.annoushka.com/uk/18ct-yellow-gold-pearl-diamond-earrings-b027944.html

Kate's earrings have the Kiki McDonough hoops and the Anoushka drops.

I agree. I used to have a rose gold bracelet that was my grandfather’s gift to my grandmother on her 21st birthday. She treasured it all her very long life and I wept when we were burgled and it left my life. It’s lovely to wear jewellery with a history.

Yes, and she's not even proposing to spend the entire 2k! Kiki Mcdonough is having 15% off, so she can get Kate's exact hoops for 850-15%, which is 722.50, and then the Annoushka drops are 450. So OP can get Kate's exact earrings for 1,172.50 and save 827.50. (Kate does not have the Annoushka hoops. She hangs the Annouska pearl drops from the same hoops she uses for her Kiki gemstone drops.)

Kate's hoops: Use code THANKFUL to get the 15% off.
https://www.kiki.co.uk/products/kiki-hoops-diamond-in-yellow-gold

Kate's drops:
https://www.annoushka.com/uk/18ct-gold-baroque-pearl-earring-drops-020354.html

You need some savings in case of emergencies. Things break down, unexpected bills come... M sure you could get similar looking earrings for a tenth of the price.

Definitely buy the earrings, you’ll think of your dad whenever you wear them ☺️

She said she has emergency savings.