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 need to see the earrings 😁

I'd whack it in my pension and enjoy watching it grow, but I'm obsessed with retiring early and that could be a month I get to finish work earlier 😀

My luggage got compelling lost travelling to Islamabad in the 90s and travel insurance provided 1500 I think to triple. I bought a cardigan that cost nearly that amount.

If you can afford it and they delight you, do it! YOLO

A cheaper alternative is going to look cheap.

a wonderful idea! An unexpected windfall should be spent on something wonderful that you will treasure forever. every time you wear them you will think of your dad's generosity.

I’m in the buy the earrings camp. Yes they’re expensive, but they’ll bring you joy and remind you of your Dad’s gift. Being sensible and saving the money for car repairs, bills etc definitely won’t do that.

It’s called being realistic…

I would. It's money you wouldn't normally have so look on it as a bonus.

Different perspectives and different purses! To
spend a £2000 gift on fixing a car or replacing a boiler, would make me feel hard done by….unless I really needed to.

Buying a pair of beautiful earrings, is a rare luxury and because of my boiler insurance and annual checks and my reasonably priced car
mechanic, I don’t worry about those things. And so off to the jewellery shop I would go!

Absolutely buy the earrings. £1345 is not a life chamging amount of money but you will get so much joy from the earrings. Even if you never wear them and just enjoy having them.

If that's what floats your boat. I personally wouldn't as be scared of losing them ( earring disappear from my ears)

We need to see the earrings!!! Please show us!

Not sure, but I would love to see a picture of the earrings...

It depends on your financial situation - will you need the savings? If you've got a big enough pension pot that you'll be able cover your living and housing expenses, then enjoy the gift however you like. If not, I'd add it to savings.

Not true.
DF can gift as much as he likes every year from excess income. If he has changed his pension to draw down more each year that would be excess income.

The other thing in their favour (I think, I might be wrong) is that really valuable jewellery doesn't lose much value once bought, does it? So, if you ever needed or wanted to, you could probably sell them for not much less than you paid?

YABU when you have no savings.

Whatever has caused you enough doubt to have posted here is probably the reason you shouldn’t

£2000 would buy a years David lloyd /other 'fancy' gym membership.
I'd either do that or stick it in my SIPP /ISA and invest it.
Both options buy me a healthier/happier retirement. Earrings would not.

No point buying frivolous things until you are on track to have a fully funded pension.

If you have no savings then, no, don't buy them.
Buy something nice for a couple of hundred quid and save the rest for now.

I’d use it in a way my dad would approve of, so for me that would preclude jewellery!

You could see it as a generous start to your savings. Put it in an ISA and you can take it out tax free when you really need it.

If you buy the earrings, bear in mind that gold is very expensive atm though, so don't expect to get the money back should you need to sell in future.

If you want to save and have earrings, then spend £50 on a copy (there are plenty out there) and put £1950 into the ISA.

You can see that I bat for Team Sensible (often called Team Boring by the penniless opposition!) 🤣

1. Get quotes on how much the annual insurance on this jewellery will cost.
2. Are you prepared to pay this amount (plus inflation) each year?

Not really.