What do you prioritise spending money on?

[Moneymismatch]

Just that really. I’m not struggling but I have limited disposable income and there’s always a million different things I want to spend it on, I never know what to prioritise. Holidays, days out, eating out, new clothes, beauty treatments, private healthcare, the house, the garden, makeup, extra qualifications, more organic food, electrical gadgets, birthdays, savings, after school clubs, personal trainer, cleaner.

What do you prioritise spending your spare money on, and does it bother you having to make sacrifices in order to do so?

The way we've done it is to have separate pots, once all bills and food are out I work out how much we have left each month to assign to the pots, I treat the standing orders like an inflexible bill; Christmas, car, leisure and holiday to start with. We pay the least from left to right, we have always prioritised holidays the most. As we've had pay rises over the years we have increased the amount we put in monthly into each pot which means more days out, more money for holidays.

Things like make up, beauty treatments are personal spends, I have a set amount of "pocket money" for myself that I spend that stuff on.

After school club is a necessity so that has always had to be factored in before the above, and we started getting a cleaner when we were happy we had enough money to do the things we wanted to do in the pots mentioned above. We have recently added a pot for rainy day (we've never been so good with the long term savings but that's about to change) and house improvements.

We prioritised reducing the running costs of the house - so insulation, double glazing, thick curtains, solar etc. Our energy costs now are very low compared to most, which in turn has freed up more spending money.
We do spend on keeping the house 'up together' as if you don't maintain it costs more in the long run.

The rest all depends on your priorities.
Extra qualifications - if it'll improve your earning power
Savings - always helps to have some money put by for the unexpected

But we don't spend much on clothes, I can go a whole year and spend under £100. I don't spend on beauty treatments or make up (I don't look at myself in mirrors, so really not bothered). We rarely buy a takeaway and perhaps eat out max once every 2 months. Electrical gadgets / gadgets for the kitchen - no thanks we really don't need more crap cluttering up the place.
Holidays we simply don't do due to hobbies and animals, but our hobbies tend to take us away for weekends/days out.
I'd never have a cleaner, can't see the point in our house - if you have to tidy for the cleaner you may as well just clean. Ditto personal trainer.

I have very similar system to @updin . I just put aside small amounts to each pot that is important to me.

Looking good, keeping fit and healthy, and having lots of fun with my friends.

Lockdown was actually a good reset for helping me work out what things were really important for my happiness and well-being and which things I was just spending money on out of habit. I hated looking like a scruff when I couldn’t get my hair cut, I felt really out of sorts not being able to go to the gym, and I missed my friends like crazy. So I’ll spend any amount of money to have those things in my life.

We prioritise family days out, and good quality food and I buy a lot of our clothes and shoes secondhand (Vinted, charity shops) to enable us to be able to do so.

Prioritise days out with the kids - I don’t tend to really go out much myself with friends if it will costs money that I would rather spend on my children.
cleaner I don’t bother with, I will still have to clean on the other days so to me a waste of money.
holidays- I prioritise one good holiday a year, for me it needs to be abroad and 4star min, and all inclusive. A self catering holiday in the U.K. for me is the same shit I do every day of my life!

For us our priorities are:
Household bills, one good reliable family car, kids activities eg swimming, kids clothes etc.

We manage a holiday abroad every year. We dont do breaks in this country as it doesnt actually save any money v abroad.

We dont do nights out, alcohol, cigarettes.if we do a day trip we dont stay over night.

We have a good weekly budget for shopping so eat well and healthily and can have treats within that budget.

I prioritise good food. I enjoy cooking and eating nice food at home, bake as a hobby, and enjoy an occasional meal out.
I get PIP due to having a disability, and my main use of that is keeping a car on the road (that said, the car is 15 years old and was bought outright).
I have a small budget for beauty, regularly get my hair done, and nails occasionally as well. It makes me feel SO much better about myself. I’d guess I spend an average amount on clothes / make up.
We don’t spend on expensive holidays (last went abroad before covid, but had a short UK break last year for my 40th).
I don’t smoke, only occasionally drink, we don’t have sky TV, and I’m not servicing any debt.

For us it’s holidays and experiences.
no interest in technology, fancy clothes or make up, beauty. We do free or cheap exercise like running or council pool.

We prioritise savings for the long term,holidays abroad ,good food (we eat out once a month and we don't drink or smoke so I rather spend a little bit extra on food shopping). I go out for a coffee with friends a couple of times a month .
I have different pots with Monzo for stuff I want to buy. I add to the pots as I go along as this is all stuff that is expensive but I am planning to wear it for a very long time. I do my own manicures and pedicures,haircut at the hairdresser college (a very simple messy bob) no colour,simple make up.We use The Gym Group,no PT. No real interest in electrical gadgets. No cleaner.

your last question was does it bother you sacrificing. I’m so lucky in that I/we don’t go out much, I find the food dh cooks better than anything in restaurants and have always found the cost to be ridiculous anyhoo! I don’t drink much anymore, maybe a glass of wine every month or two, then Christmas nights out. I don’t buy books anymore (I’ve a full kindle and try to use the library although I’m always late back with books so it’s scary going in lol!) I get my brows and bikini done in the summer and hair in September. I don’t get nails done and I’m lucky that my mum buys my skincare for my birthday! I prioritise kids stuff, clothes, we don’t go ott but every so often they’ll get a jumper they really want, books and colouring stuff and the odd lemon ice tea/ fruit shoots/slushies and we go to the cinema twice a year (six of us so it’s pricy).

We go on hikes or to free events/exhibitions instead of paid day things and sometimes I worry they lose out, eg there’s a place where you can pretend to be a weather person, experience zero gravity etc but it’s nearly forty quid per person before travelling there and we’d have to turn down food. We don’t go to plays or musicals and I worry we do them a disservice there too. Oh and I also prioritise sky, it’s our entertainment, although every few years we get rid of it for six months.

Interested to know how people create these pots of funds? Is it an app or through your banking?

Sorry seems like a daft question 🙈

@Mysleepingangel I used to just set up multiple savings accounts with my bank, but now I use Chase and that lets me set up multiple accounts. I believe lots use Monzo although I'm not familiar with it myself.

I track it all in a spreadsheet.

I use Monzo

I don't work due to disability so am on a tight budget... but my gorgeous dog is my priority.. I pay my dog Walker to take him for a daily run. He has a better social life than I doHe's priceless to me
I also have a haircut and colour every 5 weeks
However my food budget is low as I eat one meal a day
I'm happy with my simple life
Live alone now but never lonely

I have two horses and they take everything really. We've not had holidays for years because of them.

in order of priority

Mortgage and overpay
house bills and food
stuff the kids need (books, clothes)
pet insurance
life insurance
house insurance
health insurance

kids extras (trips, activities)
Car stuff
stuff me and DH want (new clothes etc)

holidays (which is why we hardly ever go away) 😂
Luckily we live in a lovely place so have holiday places on the doorstep without going away

Not a huge amount of disposable income. So after all the essential bills and food, plus a little bit for clothes it's like this..

Birthday and xmas pot(just enough for the children).

After school activities

School holiday budget. Days out etc and treats such as take aways(these are kept for school holidays only)

Holiday budget (one a year, usually just a cheap uk one but can go abroad every few years).

Coffee and cake out once a week for me.

Save whatever is left, for when something is needed or occasional extra treat

I don't care about beauty and cut my own hair. We don't have a car, so save money there. I basically prioritise the children. I'd rather they didn't miss out on things. Personally I don't want for much, except the holiday which is my treat aswell as theirs. I probably go out in the evening 3 to 4 times a year.

Lipstick, coffee and wine.

Prioritising a large old house that needs renovating and having pets. This means eating out days out holidays and better cars (cars are currently 18 and 16 years old) are unaffordable.
Not sure how i feel about this.

Same here

Sex, drugs and rock and roll

It varies according to need and circumstance. So if I have a good holiday last year, I might forgo that this year to update my wardrobe or if I've had a busy few weeks with social invitations I probably wouldn't spend any money in the house.

Mostly I prioritise doing things rather than having stuff, but when I do buy stuff I try and buy something good that will last.

Pretty average salary here. Bills covered/budgeted first including food, savings is high priority and go straight into accounts. This includes towards holidays and house decor/renovation. After that we enjoy meals out and drinks or takeaway maybe 2/3 times a month. I buy the odd item of clothing mostly now from Vinted/second hand. Haircuts are 3 a year maybe? Toiletries and some make up if I need it, Catch ups with friends. A lot of mine does go on the social aspect of life I guess rather than stuff. At the end of the month if anything left goes to savings.

No cleaners, PT, private healthcare, designer goods on my wage! No kids either

Some really good food for thought here, I’ve been having a read all day when I’ve had a minute and it’s had me rethinking my priorities!

I always want everything all at once because I think that’s what everyone else has and so I end up never really making progress in any areas. I’ve done the savings pots for years but it’s always felt a bit pointless as I spread things out too thinly, I’m going to work on that now and decide for sure what to prioritise, at least for the next year. I think it’s going to be a toss up between doing the house up, upping the food budget, going out socialising more, building up some savings or going on our first ever family holiday. I can probably afford two of these things quite comfortably if I knuckle down properly.

It’s always so interesting to hear what other people do with their money isn’t it?