What’s an “unpopular” spending or money decision that actually works well for you?

[HonestTealPoster]

For me, it’s not budgeting. I’ve tried it before and found it quite stressful, I ended up overthinking every purchase. These days I don’t follow a strict budget. I just spend fairly naturally and because I’m quite frugal anyway, I still tend to save more than I spend.

Is there anything you do that might go against the usual advice but works for you?

I do a tiny bit of work for my husband’s company but otherwise don’t generate any money independently. I manage all our finances and it works absolutely fine for us.

You understand the premise of the thread I presume?

Unpopular spending decisions that work well for you?

This works well for that poster.

We are renting long term. We do own a house but it was in a location which wasn't working for us so we rent that one out to off set our own rent.

The house we're living in is worth far more than we could afford if we bought it but the rent is reasonable so we get to live in a lovely house in an expensive area.

Also having 100% joint finances if you have children. I know it's not universally popular and sometimes seen as a way as a means of control by which a woman becomes dependent on a man, but having read many threads on here over the years I have concluded that keeping separate finances is used by some men as a means of control- that they insist on outlandish splits that effectively make the cost of bearing and raising children primarily the mother's responsibility so that she is then in a far weaker financial position and can't leave without hugely reducing her standard of living. Joint all the way for me.

I cancelled my pet insurance for an old cat, the year after he got an ongoing condition. I wish I'd done it earlier, it is such a scam.

After paying insurance for 17 years with barely a claim, as soon as we made a claim which would result in costs of ~£400 per year, the insurance cost increased to more than double that. The annual cost is far more than we would ever pay to extend the life of a cat that age, who we wouldn't put through invasive treatment.

I don't think I would take out insurance again, and save a buffer first instead.

Yes we've never had any pet insurance (going to jinx that now probably)

Also I dont use or collect 'points' from things or use vouchers or discounts. Pure laziness I think. I cant be bothered with the faff.

Could you explain how this works please @youalright? Salary goes into one and from there it goes into the separate pots?

This an interesting one. What do you count as an attraction? Do you never go to museums or galleries? Castles? Parks? Does the theatre count?

We bought in a cheap area that people are generally mean about and look down their noses at and even when we both started earning more we chose to spend that on fun experiences and meals and trips and just carry on enjoying our home and being positive present members of our community.

I'm noticing an increasing number of people posting about keeping housing costs low and not wanting to upgrade to anywhere bigger even when affordable. Wonder if we might see this become more common, given the economy.

I only insure things if I couldn’t afford the bill. I can pay a vet bill, I can pay a consultant. I can’t replace my house.
Save the premiums and self insure.

Hardly unpopular

I’m the opposite to this and have spent a fortune on attractions and experiences over the years. I’ve lost count of the amount of annual passes I’ve had.
I am even worse on holiday and have spent well over 1k on a fabulous day out a number of times.

I love saving a fiver here and there 😆 it's a bit of a hobby. But it's easy to make it a hobby when it doesn't really matter.

DB laughs that we go to the airport for a long haul flight on public transport and a colleague once said to DH that he's the type who would barter with a taxi driver over 50p then give him a pound tip.

100%. People are massively over-insured for little things like vets bills and appliances and often under-insured for big things like death and critical illness.

I know this isn’t good for businesses and will be unpopular but I buy a glass of wine then top up using my own wine for the next glass. Easier if we’re sitting outside. The wine i like at the chain I go to is £12 for a medium glass. I can get a bottle for that. Same if I go to the cinema, bring my own snacks and drinks. Otherwise it would be very expensive to go out socialising financially.

Another one who ditched her car. I'm retired now and have a free travel pass, get most things delivered and use Uber when necessary. I live near everything and am close to the city centre too. Public Transport is good around here and is rarely packed as I can use off peak times. Everyone thought I was mad. I'm not. It took a while to get used to but the amount of money saved is unreal! And I don't have to worry about fuel shortages/cost (for cars), service, MoT, Insurance, breakdowns and so on. Unpopular amongst family and peers, But I'm laughing all the way to the bank!

I don't need to budget or be frugal, but this decision has shown me how much having a car costs! I have no regrets.

I don't add things up to ensure I spend equally on my kids. At Xmas for example I buy them what I think they'd like rather than spending the exact amount on each of them, two go to state school one goes to private, one has a very expensive hobby, I paid for one to to go on a mates holiday etc etc. I'm of the view I get them what they need when they need it and it all pretty much all balances itself out over a lifetime. They will all get the same inheritance though, if there is any.

Same. I’d never get a take-out coffee.

I’d have one in a cafe, with cake maybe.

But only if I was meeting my boss or friend.

I don't know if it counts but I've never meal planned and bought a set menu for the week.

I look in the fridge/cupboards and have what I feel like that day. Because I buy food I like, I always find something.

(I accept it may be different if you have multiple people to cater for though)

Another one here who has no budget (household or personal) - I just have an idea if we can afford something or not on an annual basis.

and no meal plan for family of 4 (2 adults 2 teens). At most I might plan a meal 24 hrs ahead .

If I book a holiday I tend to pay it all up front. I know people say it makes more sense to pay in instalments as you earn interest on your money in the meantime but I like the mental freedom of knowing that is sorted.

Paid off mortgage even though financial adviser said it would make more sense to put surplus funds into pension. Didn't listen. Love not having mortgage.

Paying off son's student debt. Financial adviser kept squeaking on about saving it for a house deposit and letting him just pay "a graduate tax" but I started post uni life with no debt hanging over me and I am lucky enough to put him in the same position so that is what I am going to do.

I dont tell anyone this stuff in real life except the FA who seems to think I'm a loon.

My luxury is going out for coffee - not takeaway but I go out for coffee often, probably about 3-4 times a week. At least once with a friend for breakfast, once with my teen daughter, and another 1-2 times on my own. Most of my social life is coffee shops - I don't go out in the evening much, just because my friends don't so much any more, and there are a few good independent coffee shops near me. When I go on my own I walk there, have one large coffee and work for about an hour, just for a change of scene when I'm wfh. It does feel v frivolous but I just really enjoy it.

I don’t budget either but I’m tight and not materialistic in the slightest.

I don't own a car.
I walk to and from work.
I cancelled my credit cards - I find it peculiar that those on benefits are critised, while having debt is not that dissimilar as the money gets rewashed in the system.
I buy most everything secondhand/get free.
I stopped drinking - has helped my MH too.
Even if I wanted to, I no longer do girlie nights nor take part in fundraisers and workplace collections.
Eggs on toast is an acceptable dinner for me, oats for breakfast. A sandwich or jacket for lunch.
I sleep a lot and read or watch movies in bed. Potter around the house, sit in the garden.
I have a few home DIY projects on the go. All free or low cost.

I watch videos of the sea and valleys, forests and mountain ranges, etc so that I don't feel like I'm missing out on the sights and sounds at least through not affording to travel there anymore.