To think people need to stop asking me did we win the lottery?!

[Loudnproud]

Last year we bought a new house. We moved in together so sold two properties and bought one. We did up the house (built in wardrobes, new flooring, bathrooms etc etc) I then bought a new car about 6 months in and my DP bought a new car about a month ago. We are good with money! We earn well! No debt apart from our mortgage. We have ample savings(not that people know this) but literally every week SOMEONE, family, friends, colleagues, neighbours are asking if we won the lottery! It’s getting annoying tbh. Last night trick r treating we had 4 people comment in the new cars!
Cant people just be doing well?!!Cant people just be good with their money? Rant over!!

Nowt wrong with witchy

Well yes, exactly. That's why it's extremely unlikely that anyone REALLY thinks you've 'won the lottery.'

It's just a meaningless phrase. Maybe you're talking about it all a bit more than is usual? I can't recall any of my friends and family ever mentioning anything to do with what anyone's spending on houses and cars. Probably because it's never really a topic of conversation.

@Loudnproud yeah you see I just don’t get this idea. I have bought many used cars…they are never as reliable as you think and they guzzle fuel.

Are you not checking the fuel economy before you buy the car? An older car will eat more petrol/diesel if it has been poorly maintained, but a new car can also eat a lot of fuel if it has a powerful engine or is heavy.

My old car was very efficient for petrol because the car and engine were so small.

So I went out on a limb and bought a newer hybrid one, it’s working out way better than I anticipated to be honest. DP bought a plug in hybrid because we have solar panels.

Where on earth are you driving to? Hybrid cars work well if you're just driving around a town or city at low speeds in start and stop traffic to go to the shops, but if you're a serious motorist with a real commute, then a hybrid is pointless as the ICE takes over on the motorway anyway.

If your concern is fuel efficiency, then either a diesel car for long journeys or an electric car is best (electricity is very cheap compared to petrol/diesel).

I’m surround by plenty of wealthy financially savvy people and absolutely none of them have this attitude around their cars. They’d only buy a used car if it’s no longer made and they really want that exact one (ie a very particular vintage Ferrari- but that’s hardly for an every drive go to the store car).

Are you surrounded by financially savvy people, or wealthy people?

Probably not even real wealth. Just showy. Real wealthy people don’t buy brand new cars.

On the SUV thing - i got one because of the dog crate in the boot.

I tried it in so many saloons but in that style it obscured the back window far more than I was comfortable with. (I literally took the 15kg crate to car showrooms)

The only cars that I could still see comfortably out the rear window with the crate in were SUVs. All the saloons have become so coupe in style over the years.

Many people have dogs, and crates so I wonder if they thought the same as me and unintentionally ended up with an SUV

(and no - I couldnt have got a different crate. A crash tested crate is the only way I will transport my dog)

True. I should have said "...or people who like spending money".

They’re both. Why a new car from a dealership makes sense- you buy it has xyz years warranty. Every service for an amount of years is covered (these cars aren’t cheap, even normal service is eye watering amounts, at least to me). Something goes wrong - they send a courtesy car and pick up your car to fix; most of the problem reporting can be done via an app - say a light in your car is flashing, something needs checking, you see that at 10pm and send a message. By the morning you know when they’ll bring a car and take yours. Zero hassle and minimal time from you. For these people extra issues and time are money; so yes, for them financially makes a lot more sense to buy the car new and for any problems associated to be dealt in no time and at no cost for at least a coupon of years.

Thanks for introducing me to that concept - I've never come across it before. I still don't understand it as a concept though, or rather why whoever introduced the idea chose to use the word monolithic. To me a lump of immovable, solid matter seems the exact opposite of a hive mind because I've always thought of that as loads of people putting their very different minds/experience/skill sets together to produce a solution for a problem. Hives hum and seethe with activity; monoliths, by their nature don't and can't.
I'll be puzzling over this for the rest of the day now! 😊

Do you know what "financially savvy" means?

A person wasting money on new cars cannot, by definition, be financially savvy because new cars are notorious for being poorly built and having a short life span, cars are always a depreciating asset, and cars are well-known to be the single biggest wealth killer in western society.

Anyone who is intelligent, sharp, and has wit buys an old bulletproof car that has a documented history of being a 'mile-muncher'. Not a new car that's going to have issues because it has dozens of different electrical systems that no one asked for.

A SERIOUS motorist with a REAL commute 😂😂😂 have you heard yourself?

PP said the hybrid is working well for her. It’s really not for you to tell her otherwise.

Because I live 12-15 mims from my workplace and drive through a town most days…not everyone has 2 hour motorway commutes

You bought a new car for a 15 minute commute... ?

Ignore the naysayers. We’ve got hybrid Corollas, brilliant for both town and long motorway journeys. Bought new because we’ve done the maths and are good with money.
And I’m retired now but before that wfh for decades so no commute at all.😂

What rubbish! You can be financially savvy and buy a new car…because you like new cars! Being savvy is having enough money to buy what you want, things which give you pleasure. It doesn’t mean buying everything as cheap as you can to save money.

Yes is that ok…I drive other places too. Kids activities etc etc but all within the same area

@Pennyfan Being savvy is having enough money to buy what you want, things which give you pleasure.

That's not what "savvy" means.

@Loudnproud Yes is that ok…I drive other places too. Kids activities etc etc but all within the same area

My point is simply that it's not "financially savvy," by definition.

No one can tell you what to do, but claiming it's being "financially savvy" is simply not factually correct.

Is this really the worst thing you have got to worry about?
A hell of a lot of people would happily swap places with you. Maybe you started this thread to gloat or maybe you didn't. Enjoy your money OP.

I doubt she only drives for work 😂 why are you so pressed?

Savvy means spending money wisely and saving where you can. It isn’t a term only reserved for the rich.

I didn’t express myself very well. You can be financially savvy and save in order for you to buy nice things. Buying a nice car and being financially savvy are not mutually exclusive. Being savvy means taking good financial decisions and not wasting money. But to say someone is not financially savvy because they make certain choices about their spending is nonsense.

But not everyone needs to be financially savvy in that way. If the cost of a new car is a very small outlay relative to your larger picture, the convenience and ease and reliability is worth it.

And @PeloMomis right. Plenty of very wealthy people absolutely buy new cars.

I misread that as effluent at first!!