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 ?

She's not financially secure though. She's got no savings.

Don't listen to people saying to buy something similar but cheaper. There is a value in having the exact thing you want.

Also, somebody saying that jewellery holds it's value has obviously never tried selling their jewellery!!!

Get the earrings, you've wanted them for ages. Save the rest.

Add your earrings to the valuables specifically listed on your household insurance if you are worried about losing one.

My MIL won £10k on premium bonds last year. She was weighing up saving the money or buying a sofa as hers was a secondhand donation from BIL and she didn't particularly like it although it was serviceable. She mentioned that she had never chosen her own sofa before. Her older sister had died the month previously and her younger sister told her to just go for it - this was unexpected bonus money and life is too short to never get the nice sofa that you actually want (or earrings!)

Nothing to do with my approval. I was only saying that for a princely sum of £1345 she can get a gorgeous, real value pair unlike the shite that Kate Middleton wears. (Because she is forced to support British designers).

How much is in your emergency fund?

When you say you have no mortgage, does that mean you own a property outright or you rent?
How financially secure are you really?

Having money is like going through life with a protective forcefield around you. It can prevent or mitigate most of life's problems. Do not underestimate it.

Unless you have something like 50k in your 'emergency fund' and own a property ( that is in good repair) outright, I would save the money.

I sort of agree, but that is my point that so many people objected to. 2000 is an absolute drop in the ocean, if you want a significant pot starting with 2000 isn't going to get far.

People saying ' stick the earrings on your insurance in case you lose them.'

Small value items like this are not worth claiming on insurance. You will lose the money you are given in added insurance premiums. Those small claims are meant to be added to large insurance claims, such as if you are burgled or your house burns down.

Not having savings isn't financially secure.

How would you feel if you lost one?

This 😀

I spent a similar amount 10 years ago on some earrings - no regrets whatsoever! It was a huge sum for me at the time but it was still worth it. I love that it will be passed down to my own children as a new family heirloom

I think they look lovely, and some of the suggested alternatives not where near as nice.

So I am curious. How do you determine what is real value and what is overpriced shite. Most people are not jewelry experts.

Have you never heard the phrase ' Take care of the pennies and the pounds take care of themselves?' . If you are waiting to win 100k on a lottery ticket to start saving you will never have any savings. Most people build up substantial savings by saving small amounts over periods of time. £ 2000 is a good sum to start with. You can buy a lot of things that you may need with that, especially as you get older and your healthcare needs increase. Glasses get expensive as your eyes deteriorate for example. I'd rather be able to see than have nice ear rings I can not even look at properly anymore..

I wouldn't spend so much on tiny earrings thst could easily be lost.

Save it!!!

I wish! Just had a quote from British Gas for a direct replacement and they have quoted £5500! Small 3 bed semi, obviously need something as the boiler is broken. £2000 would be a good start though!

Christ

You say you have no mortgage, savings and an emergency fund. Is no mortgage cos home is paid off or you rent? Is emergency fund £1000 or 12 months of all spending, fully funded? You say no savings- what are your retirement plans? Your dad gave it to you: what was his intention in doing so? To give you something to treat yourself to or help you all out a bit? I think it depends on your answers to those questions, house paid off, fully funded EF, pension sorted and a gift for a treat buy the earrings. If renting, with secure employment, fully funded EF, and pension sorted, buy the earrings. But if you need to sort your pension or add to EF then I'd take a portion for a nice pair of earrings and invest and/or save the rest.

Up to you obviously! I would spend it on a weekend in a fancy cottage with my children because that’s what I’d get the most pleasure out of- so if the earrings will bring you the most happiness then please do buy them.@

Get another quote
my neighbour was quoted high by British Gas and a 7 day wait, I recommended a local guy who came out the same day and fitted a new one for £1800

?

It’s neither reasonable or unreasonable. You should be able to decide what to do with it without outside help. That aside, i’m on the “life’s too short” side so I would probably just enjoy the money in whatever way made me happy.

I've just had another one from another company to install the boiler in a better location and that was £2000 less! The only problem is BG have good interest free options wheras the other doesn't.

Can you find the same earrings pre-owned? They will depreciate by over half as soon as you walk out the store, so if someone else is selling you pay less. You need a reputable source to ensure they're authentic, so can't pay rock-bottom unless taking a chance.

If he didnt give 3k last year he can bring that allowance forward and give 6k this year to have that value leave the estate immediately and not be subject to the 7 year rule