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?

We have a cleaner despite the fact I’m a SAHP.

some people think it’s an absolute waste of money. For me it’s worth it, and I’d sacrifice everything except food, shelter and heat before parting with her.

Some weeks it gives me the freedom to be lazy, on the weeks when DD has countless appointments, isn’t at school or DN isn’t at nursery because of his struggles it means I don’t have to think about basics and the house doesn’t get out of control.

Don’t really see many of the things posted as being unpopular choices tbh, but that may just be me.

I’m retired, I have a guaranteed income, and I’ve given up saving. In fact, I’ve started spending my savings now.

DH and I have never followed a budget, either. Through a combination of good fortune and natural saving tendencies, we've never actually needed one. (Sorry if that's considered a brag, but it's definitely not what people advise you to do, nor what I'd suggest myself, really...)

We prioritise spending on hobbies over spending on travel. We enjoy our hobbies every day, more or less, so it's a better deal if you're not particularly motivated to travel (which we're not).

We tend to drive used cars bought outright and kept long after others would trade them in for something else.

We use credit cards all the time for the rewards, but always pay them off right away so we pay no interest. (Not groundbreaking, but considering how many people carry credit card debt, it's also not typical.)

I SPEND on coffee 😂 very unpopular advice indeed! But I love having a hot Americano or cappuccino when I'm out and about, feels like a treat

I bought the biggest, most expensive, over the longest term house we were approved for. I love being at home and save loads of money by not going on days out or holidays.

Oooh what diary is it? I’ve been meaning to get one and you’ve sold it really well haha

We bought a house under our budget, even though we could have had a more expensive house at the time.

Neither of us drive/own a car, though sometimes I wish I could!

Separate bank accounts.

I only buy something if we truly need it (we currently need new pots and pans because the non-stick coating is coming off of our old ones.) Also, they’re dented after DP dropped a few of them.

I repurpose things, if I no longer need them for its original purpose. I have a wicker plant pot, which has been repurposed to a waste paper basket in the lounge. Plus. a used candle jar, which replaced our toothbrush holder in the bathroom (after our old one smashed.)

I don’t shop around for electricity and internet and insurance and everything. I find a reliable provider and then mostly stick with them unless they go up outrageously. I don’t think saving a couple of pounds a month is worth the time and hassle.

Are you paying for this financial advisor whose advice you're ignoring? 😁

Ooooh that is an unpopular one.

This has been a good thread.

Separate finances with DH. Works perfectly for us.

I pay over the odds for a milk delivery because I save more by not going into the shop as often.

We use car finance. Cars aren’t assets to us, we’re not worried about depreciation, I’d rather pay a monthly cost for a new (or new-ish) car and know where I am with it. I’d rather pay monthly than dip into savings for a large purchase. The payments are an insignificant amount of our take home.

I’m also a car snob. I like driving a nice car with all the bells and whistles.

Out of my pretty significant savings, 75% of it is in cash. I don’t care I could get better growth in investments, I like knowing I could pay the mortgage off, and the final 3 years of school fees and still have enough cash to last about 5 years. I worked really bloody hard to accumulate it and I’m not risking it on the markets.

We do not book our holidays 2 to 3 months in advance or less . I know others book years or at least lots if months but as a family of 5 we often just decide last minute . It has been working for years and after actually booking in advanced last year for the first time it was actually more expensive this way .
we also have cryptocurrency as savings and for us is a long term investment but we use it as a emergency fund so we don’t touch savings , until now we only spend the profits of its

Do you mean literal, paper cash? Or just money in easy access savings account?

What's the benefit of keeping it in your current account? You're missing out on interest and it's more vulnerable in an account which you frequently use a debit card for.

I'm with you. If I have to visit DP's BIL one more time to listen to him wittering on about his latest deal on insurance, utilities, mortgage....😡 He spends hours online changing providers, and is visibly triumphant over haggling to save a fiver. I was feeling particularly evil one day so I asked him if he factored in the cost of the time spent on his money saving schemes because he is obsessed. I'm happier spending my time reading or seeing a friend.

My OH always says - don’t insure anything you can afford to replace or fix.

As an aside, when I was a kid, no one insured their pets! We had a horse (who we did insure) but insuring a cat was totally unheard of.

DH transfers every penny of his salary to me. No joint accounts. I then pay all the bills and savings from that and transfer weekly spending money back to him.

Cash in a bank account - Cash ISAs, premium bonds that sort of thing (as opposed to S&S ISAs). It’s not stuffed in the mattress. Or as my DGrandad did, wrapped round pipes in the airing cupboard!

I don't budget. I spend until the money is gone. it works for me.

No insurances apart from the car and buildings insurance on the house. We keep some savings earmarked for vet bills and when vets know you don't have insurance the bills are nowhere near what they would be charging via the insurance. I

Never buy a pedigree pet. Rescues all the way, always lovelier, always been healthier and it does some good.

Take picnics on family days out. Drinks and snacks are ott expensive.
More to spend on other things like attractions and holidays