Money

[PerkyOchrePeer]

If you had a sum of money say 3k, what would you spend it on? Would you go on a luxury holiday or buy some nice furniture or some nice clothes. I've had a luxury holiday so I dont think I would spend it on another luxury holiday. I would buy some nice furniture and some nice clothes and maybe a few days away somewhere in Europe but I would not blow the lot on a luxury holiday. A three week holiday to Australia staying in a classy hotel would come to about 3k but if you've done it before then it's just a waste of money

You never know what the future holds. A friend of mine had a decline in health and had to change her bathroom. She had the bath removed and had a walk in shiwer5 installed as she could no longer climb in and out of a bath and u would guess that us an expensive job

I recently had mt home decorated. I changed the colour scheme a bit and I feel so happy because I can look at it day by day for years. A luxury holiday is fine but memories fade

I’d save it. You just never know when you might need a new washing machine, car, fridge etc.

That's what I mean. I recently had to buy a new dishwasher. Do you go on holiday. Yes save it but take a little bit for a break away

I received 1058 yesterday unexpectedly. We had takeaway pizza last night for 61£ and the £1k will go into savings.

I would also stick it in savings. I have a holiday fund (amongst other savings) so wouldn’t rush out to spend it just because it was there.

£800 on a new phone, £300 eating out at a few really nice places and the rest on a couple of one week holidays in Turkey and Portugal.

Please let me know where you can go on a luxury holiday for 3K….

It doesn't sound as though you usually have generous spends @PerkyOchrePeer.

In your shoes, I'd keep £1000 for emergencies, put a £1000 into premium bonds and spend a £1000 on things that made me happy: theatre, coat, good leather boots, and perhaps a little picture, if there was £100 left over, a coffee and cake fund every Saturday until Christmas.

I have a rule of thumb with unexpected money/bonuses that I save/invest 80% and treat us with the rest. At the moment as we have met our emergency fund target I’d put £2400 in our low cost tracker fund. The remaining £600 I’d spend on buying and framing a couple of lovely prints for our house that we’ve had our eyes on and a couple of nights away or a day trip to Paris.

Australia and a nice hotel. I have done that and had never been able to afford that before I came into some money so to me that was luxury. I grew up in a poverty stricken childhood and e couldn't afford to go abroad

unfortunately for me, I can only go on holiday in the school holidays and everything is ridiculously expensive…

It would cost the best part of £3k to fly to Australia, let alone the cost of staying in a luxury hotel for three weeks.

I will give you the advice I give my adult DC; in life there will be times you don't have enough money to buy what you need, other times when you have money spare, try to flatten out the peaks and troughs by saving 75 percent of extra money when you get it until you need something. Then the hard times when you really need something but have no money to buy it will be fewer. Enjoy treating yourself with the 25 percent.

What’s the difference between a holiday and a luxury holiday. I definitely wouldn’t call 3k holiday to Australia ‘luxury’. You’d need a hell of a lot more than that amount.

For me the answer is person/financials dependent. I would spend it on a holiday BUT @PerkyOchrePeer thats because I have ample savings etc. However, if I had no savings then I would keep it as my savings.

@PerkyOchrePeer what is your financial situation besides this 3k?

Save a third, spend a third on needed/sensible things, and splurge a third on fun stuff has always been my practice for unexpected money.

These days I’m more likely to splurge, because I’m older and have sensible stuff and savings, so I’d use it for travel (but not luxury holidays, which are not my cup of tea. I’d rather go cheaper and further/for longer)

Great question OP.

If I had zero or minimal savings, I’d save most of it and enjoy about £200.

I currently have decent savings and will be downsizing in 2029 freeing up about £150-170k I hope, so if I got £3k today I’d put it into my pension. I’m 53 and want to retire at 57. I’m on track I think, but every little helps and the tax relief is appealing.

Which airline and which hotel? We need some cost saving tips.

I would spend it on my cancer treatment
which may not be funded in the Uk.

just shop around to get a good deal. It also depends on the time of year

I do not think I want to disclose my financial situation. I am not wealthy but ok financially

Australia is one of the more expensive countries in the world. No way can you get a return flight form the UK and 21 nights in a 'fancy' hotel for £3k.

Sounds like you are thinking of ways to spend this money when you don't need to. You don't seem particularly inspired about another holiday, but aren't there 194 other countries in the world other than Australia. I've never regretted spending any money on experiences and travel, although I've been in the position where I could afford it, I'd never want to go into debt to fund it.

It's your money, spend it on what will give you the most happiness. Or hold onto it as you might need it, we have no idea because you don't want to share any further details.

IA return flight to Adelaide with Cathay Pacific (assuming from London) can range from approximately £805 to over £1,500, depending on the time of year,

A two-week stay at the Ibis Adelaide could cost approximately £800 to over £1,000,