What are your money priorities?

[D20]

I’ve been reading a lot of different money saving and investing sources and it struck me how militant/vocal about what some people won’t spend money on or what they refuse to save money on.

I personally wouldn’t spend on cars, hair/nails/eyelash extensions, or overconsumption like lots of jellycat toys, matching fridge storage etc. (although I do watch this content with strange fascination)!

I do spend my money on my home, Netflix, kids education.

So, what are your personal priorities?

Did you find it easy or difficult to decide? I didn’t put down things like smoking/alcohol that I don’t do anyway.

Priorities

our dog
holidays
pension

Paying off my mortgage by the time I am 60 (had to start again at 40 following a divorce) so I can take my NHS pension at 60 and then have the option to retire in full or return very part time. I may not choose to retire then but I want the choice. After qualifying at 21 I have a decent pension and worry I will not have the strength, mental agility or desire to work until 68. I am also still supporting my youngest through Uni as a single income household I try and live frugally to prioritise these.

My new car which I lease costs me £250 a month.

@Sundaymorningplans I pay £205 for my lease car which includes the full maintenance package so no hidden extras - you don't need to spend £500 a month on a car. When I added up the repair costs of my old car over the year it was more than the cost of the lease and a lot more hassle. I will only fully buy my own car when I retire as I need a car for work.

What lease cars do you have @Screwyoudavid and @Soontobe60 ? They seem v reasonable! Are they v low mileage?

Priorities, saving into my pension, gigs and theatre, often in the form of nights/weekends away as don't live in a Major city. Holidays. I have a membership at a nice gym.

I don't spend much on hair and beauty but will have an occasional massage for stress relief/sports injury. We eat well but mostly veggie so don't spend a lot on food.

I have a brand new car but only got it recently under my employers salary sacrifice scheme, as it is an EV with the tax benefits I get, it costs less than my old petrol car which was fully paid off.

As DCs become independent and out responsibility for paying them through uni decreased I would like to be more proactive about investing and maybe building a passive income so I have more options around work in the future

Holidays

Supporting young adult DC.

Holidays

Holidays

Holidays

@RememberDecember I have a Peugeot and do around 10k miles a year. I don't need a big expensive car just one that gets me around and doesn't break down like my old mini used to. Obviously the more expensive cars cost £££ but I am not willing to spend more than I need to on a car motoring is expensive enough.

I'd like to be mortgage free - but it isn't a priority because we never talk about sacrificing anything to achieve it - we won't stay in our house in old age, so it's not really a big deal, plan to move to a retirement home whilst we are still fit enough to enjoy a social life.
Pensions are looking good, we have enough to pay for 10 years in a care home, each - we really don't want to be a burden to our kids, that is most definitely a priority.

Holidays - are a big thing for us, nights out, good food.

Less bothered about stuff, hate shopping - feels like torture.

Holidays, holidays, holidays with a side dish of eating out and see friends.

I have done the whole house, pension, reliable car thing, now it’s time to enjoy what I have.

Eating out a couple of times each week.
Days out/experiences
Holidays often a cruise
Gifting money to my 3 DC.
Holiday home refurbishment
Furnishings redecorating for our home
Nice birthday and Xmas gifts for DC and dgc.
We are having a new car at Xmas but first new car for about 14 years.

I don't smoke, drink much alcohol, get nails or hair done in salons, buy expensive clothes anymore as I have loads of clothes, don't buy handbags, and only a very little make up.

Priorities:
extra curricular activities for children and costs to do with hobbies
family gym membership
one holiday a year
childcare costs
food costs with coeliac disease and other allergies
school costs

need to be a priority - major house costs/repairs needed ( the roof leak that can’t seem to be fixed, 20yr old plus kitchen and bathroom)

not a priority:
hair and beauty
alcohol
new cars
meals out
subscriptions or streaming services
Changing mobile phones - only do when fails to work
adult clothes

@Sundaymorningplans I think you might have to come to a compromise. Is £500 what your DH suggested or a random figure? You can definitely get a lease much cheaper but that’s if you want a lease after having a long term and paid off car. Will you sell that one?

It’s nice reading what other people priorities are. Thank you everyone for being respectful.

My priorities are overpaying mortgage, paying as much as I can into my pension and updating my house.

Priorities
Saving for retirement as we will soon be there and this has been a huge driver the last decade.
Cats
DIY
Bit of updating our home.
Not spending
Hair
Nails
Restaurants
Alot less spent at garden centres too

Not bothered by new mobile phone either
No expensive food

Past two years;
-Home improvements (renovation of new home)
-Mortgage and bills
-Days out and festivals (UK only)

Next two years:

• Garden and outdoor improvements
• Running a small cheap car for the first time
• Start overpaying my mortgage
• An overseas holiday

Pleasures /luxuries:.

• Art materials
• Quality food
• Modest skincare and beauty products

-Coffees and snacks in nice cafes

I have been retired now for a year .
priority is my two dogs
large pot for vets fees
good quality food for us , high welfare meat bought ,
travel travel travel
socialising funds
I had all the trimmings of youth ? Designer handbags , Porsche ,luxury holidays and now am so not bothered about such things except a good car . I am a self confesssed car snob .

• Running a small cheap car for the first time

I don't see cars as anything but a drain on finances, MOT, £50 Insurance, £250 car tax, £20 ( this year I think is the last year and it increase to £200, Annual Service £179 and then fuel £520.

Works out at £84 per month for running costs, without any extra tyres, brakes or repairs. The initial purchase was £5000 So £125 per month

I wonder if I could get away with just using Uber instead

Car vs public transport/Uber depends entirely on your circumstances.

Unless you live in a big city and don't generally go off the beaten track or try and visit more than 1/2 places on any particular day, not having a car will significantly curtail your lifestyle and any attempt to go without will likely take up so much time and cost more money so if you can afford it, a car is well worth it.

I have a small cheap car that is broadly in line with the numbers you quote, I can easily afford to run it, own it outright and really value the freedom it gives me as I like to go walking in the hills all over the place that would be pretty much impossible by public transport.

Even little things like a trip out to the city a few miles away in the evening. Not so long ago I went to the theatre and went in using the park and ride, which costs £2.50 for a return ticket, plus about £1 in petrol. I already have the car so the other costs aren't relevant.

However, when I wanted to get the bus back to the park and ride, there were delays/cancellations meaning the next bus was over half an hour later, meaning I would have had to wait 40 mins on my own in the rain late at night in the city centre, which I'd rather not do. So I took a taxi back to the P&R so I could pick my car up and go home. A 3 mile journey cost £12, so you clearly don't get many taxi rides for the cost of running a car.

Next 18 months:
▪️Getting to end of current mortgage term and paying it
off
▪️Going on 2 holidays
▪️Supporting dd2 at FE college until 18 and potential university

I don't care about cars, bags, nails etc

My car is a 19 plate which has very low mileage - I'll sell this to dd1 at a large discount 😊 in 18 months/2 years and plan on getting a small hybrid

No current plans re: house but the kitchen is looking tired so maybe a refresh

My financial priorities from very young having been raised with very little money were.

Being mortgage free
Retiring early
Lovely holidays
Eating out
Good quality food and clothes
Being able to financially help children

All achieved, retired at 54 and when it comes to raising children it goes without saying I wanted them to be able to do hobbies they wanted and have nice experiences. DH retired 4 years later than me at the end of last year at 57, he is also younger than me.

Started investing as a teenager as did DH, we met in our later twenties. I also started a pension aged 21 which was more unusual back then. He didn’t which was why he needed to work a few more years.

We bought a Motorhome in April and enjoyed travelling around for about 6 weeks, would have been longer but his Mother needed some care.