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 ?

How much is your emergency fund?
That's the issue here.

Also, if your children are grown up you must be at least in your 50s, so asking for permission to spend money is a little odd.

I'm so glad my finances are my own and I have no one to answer to. I love treating myself and do so regularly! I understand being sensible, to a degree. But sticking just over 1k in a pension isn't going to make a notable difference at OP's age. If I gave my adult DC money, it would feel a bit flat if they just stuck it in savings, unless those savings were for something very specific.

Buy the earrings!

I'd spent it on a work of art. Arguably just as frivolous. Go for it, and enjoy!

You don't need anyone's permission to spend your own money on whatever you want to spend it on. If you're concerned your Dad might disapprove, maybe ask him, or ask your siblings what they plan to do with theirs.
Once you're secure in life, money is there to be spent.
My Nan once gave me £1,000 and I spent the lot on a big clothes-shopping spree at higher-quality shops than I would usually go to. It was brilliant, and of course I still have many of the things I bought, including a lovely winter coat.

Basically a gift from your dad.

When you think about it, are you far more likely to get enjoyment from looking at a bank balance where youve saved it, or a bookcase or piece of furniture you may need or a pair of earrings youve wanted for a while?

Forget about "how will you support yourself in retirement" - 2k isnt going to do that.

Forget about "what if you lose them?" - you can add small items to your house insurance for under £20.

Its a gift from your dad. What do you want from the money?

I have no real savings to speak of

Save it.

If you love them go for it and save the rest. I have a pair of diamond studs which cost about the same. They have screw fastenings and have never left my ears since the day I got them. I feel they were one of the best things I ever bought.

Buy jewellery but not earrings. They are so easy to lose !

Buy the earrings, OP :)

Earrings! And don't just keep them for best - wear them and enjoy them. Life is short and very uncertain.

You’re wrong.

She’s not.

I think you need savings. If your emergency fund is healthy, say over 30k I think ok. If you’ve got less than that I’d say save. Xo

You’re correct.

Can you post any sort of link for that please? I’m going off what my solicitor has said.

I’ve just read this:

The validity of a claim for gifts out of surplus income is only determined upon death (unless the gift is made into trust) and so it is therefore essential that a donor keeps a comprehensive record of their annual income and expenditure.

Do it, its good for the economy.

I cannot conceive of life with no savings. So yeah put into a savings account.

Buy gold, that you can admire and hopefully would go up in price.

https://wedlakebell.com/insights/bulletins/unlocking-the-power-of-gifts-out-of-surplus-income/

There is a reason your parents have never gifted you money - because you’re completely irresponsible with it.

Buy a £10 fake pair and no one will ever know the difference.

This is obviously a lot of money for you and you don’t truly want the earrings, else you would have saved and bought them already.

You don’t need to spend it just because it is there.

Put it into savings until you can decide on what you really want.

She’ll know. The earrings are what she really wants.

I thought I must have misread this but I hadn't.

Chapter and verse here IHTM14231 - Lifetime transfers: normal expenditure out of income: introduction - HMRC internal manual - GOV.UK+ following pages.

Your dad needs to check that every condition applies and to keep good records of this (source of funds, bank statements to show that his own standard of living not affected etc).

In your shoes I would buy the earrings and invest or save the rest. Given that this is part of your inheritance there is a good case for buying something you will always treasure and remember your dad by rather than just sticking it all in the pot.