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?

True, same for us with pet insurance. Also, insurance companies try and wiggle out of paying.

Using credit cards for all spending. I know there are some people that are frightened of credit cards but they are so useful.

I started with cashback credit cards so I could earn on normal spending, I earned around £200pa just by using a credit card instead of a debit card. Always paid in full and then started to prefer having 1 payment out of my bank a month instead of several. I then put my credit card money in savings and I was then earning a bit of interest. I then got to use S75 with my credit card company to claim against a smartwatch that stopped working and for a service that I paid for but was cancelled. I love knowing that my spends are insured (in a way).

Then I moved onto stoozing, this is having 0% credit card debt on purchases and balance transfers whilst earning interest on the equivalent in savings. I currently have £27k in credit card debt, have paid no interest, charges or fees. I'll earn around £1k a year on that in interest just by being strict and organised with balance due dates. It's not for the faint hearted.

Sounds good
Do you have young children to care for?
Good way of fitting in cc without paying for it

I don't budget either.

Put everything on a credit card. (But pay it off in full every month.)

I actually like going out for coffee and cake despite the cost and now being of suddenly more limited means.

Yes, I could (and regularly do) make it at home for a fraction of the cost, but getting out of the house two or three times a week gives me a real psychological boost.

Same. We’ve lived in the same small house for the last 28 years. We could have upsized but prioritised holidays, cars, nights out etc rather than a larger mortgage.

Hello, I think we are twins. There’s no better feeling than being able to sleep at night being completely and utterly debt free.

Yeah wages go into my spending account and I have a direct debit set up for the amount my bills are that comes out of that account and goes straight into the bills account this happens the same day and then all my bills are direct debits which come out of the bills account throughout the month. Then what's left I move a certain amount to my savings and the rest is kept for spending for the month

Same

I also have an expensive phone contract because of the camera and that matters to me.

I also have an expensive gym membership but I use the spa and co-working space there too so that is more than enough value for me.

I save enough and spend a ton on my kids so my splurge is the gym membership!

🤣🤣🤣

He gets a commission so yes, sort of. I know how stupid I sound.

I don’t buy all the supermarket own brand foods that are pushed as being better value. I would rather spend a bit more on ethical/higher welfare/natural products. It works because we spend less on alcohol and holidays than some would.

And you get a chance to use the loo! Perfect.

@Sgtmajormummy. No idea where you live but public transport costs 3-4 times the cost of driving where I live.

some unpopular on here but I think the bbc licence is excellent value for money, broadcast tv plus their associated apps is great if your budget doesn’t stretch to multiple apps

We spend money on holidays rather than the house. Obviously maintenance is done but most of our furniture is old or family cast-offs.

May be old-fashioned, but only buy things you can afford to pay for, in full (except of course houses, possibly cars). Too many idiots believing they are 'entitled' to have whatever they want/or see others having, and getting into debt for it.
Also keep a spreadsheet for your finances, most could easily learn to do this and it is a huge help in keeping track.

I don’t have any loyalty cards. I’m sure I would have saved ££££ over the years, but I hate the Big Brotherness of it all, so I don’t. It doesn’t make anyone loyal, it just clutters up your purse with a dozen cards.

I also don’t have Amazon Prime except when they offer me a free month. If there’s something I need right now (and there really isn’t), I can go to an actual shop. But I think it’s better to have to wait for things.

This will be unpopular but I don’t cook from scratch. I’m a terrible cook and a jar of sauce will taste so much better than anything I make!

Same here. Our FA asks why we need him when we disregard 75% of what he advises 🤣

Even including the cost of buying the car, servicing it, paying tax on it, insuring it? Because you can get a lot of bus rides for all that.

Invested in green energy not tech. Making a tidy little profit so far

Me and my husband keep totally separate finances. If one of us pays a household bill the other transfers half online to the payer.

We always had pretty much separate finances too and preferred it that way.

If you listen to some on here you'd think it obligatory to have totally joint finances but we preferred to spend our own money without feeling that we each had to be answerable to the other - not that we were, but it still felt like it.

I also like some ready meals (Charlie Bigham and M & S being firm favourites).

Being totally sensible all the time just drains away all the fun.

I’ve never bought a second hand car. I always buy a pre-registered car from the dealership. Saves a significant chunk of money. Brand new with all the warranties but so much cheaper.

When I was in debt I didnt pay off the one with the highest interest rate first. I paid off the smallest one because a) it was the one that was bothering me the most and b) I knew the satisfaction of at least clearing one bill would spur me on to clear the rest.

It worked even though the Barclays financial adviser ticked me off!