Save or spend

[1Cheesedoff]

Do you save or spend?, How much do you feel is enough saved to treat yourselves. I have had this conversation with a few friends and discovered most husbands like to save for retirement instead of living for today. What would you be content to have saved without feeling guilty for spending on car, furniture or holiday.

I've quite a bit of savings but I'd also say I'm a spender. Well you can't take it with you. There aint no pockets in a shroud are there, nor are there any cash machines "up there"

You should save enough for 6 months in case you lose your job. Here's my priorities: rainy day fund, holidays, and then retirement. The rest is spent on every day living and and treats out sporadically.

Sure you can't take with you but if you have children, especially if they are not of age to be independent, they will need it.

It's not either or. I do both.

Save. I am 45 and ploughing every penny into a pension fund.

But I am also lucky enough now to be able to do that. When I was younger every penny was accounted for before it was earned. We've managed not to increase bills too drastically as the salaries have gone up, so now we have some options.

Spend a little, save a lot. As I have discovered in my long life you never, ever know what's just around the corner.

Anyone who hasn't at least six month's-worth of normal outgoings in case of SHTF situations is to be pitied.

I do both. As a singleton I've no one bankrolling me on so I have to be sensible and save for rainy days. On the other hand, no one tells me what I can spend either.

We save. Have done for years. It means that we can afford for me to be a SAHD. That has come in handy because of our SN son. Saving gives you the flexibility for lifestyle change and insulates you from the stress of going into debt. Also, the future of the economy looks pants to me. No contest. Save for us.

Spent some money on the house though! That needed doing and we'll get the benefit for years or a quick sale.

I feel terrible now, I spend everything. If I have more money, I just buy more expensive clothes (Agent Provocateur underwear etc), so I live by my means but the more money I have, the more I spend

My mother made me open a sweet bank account and £100 from each wage goes automatically into it. I thought she was silly at the time and the amount doesn't even matter it's so small, but a year later after my relationship broke down and I had to move into my own place whilst completely broke and devastated. I then remembered that secret account I had and used that money for a deposit for a room. It was a huuge weight off my shoulders...

Will really really make an effort to save, especially after seeing everyone good with their money.

When I was married, I still saved. Unfortunately, I'm from a family where the men are all rubbish with money (they don't save for retirement at all) and I married one true to type. Fortunately, the women in my family are more astute. 'Always put a bit by' was DM's advice and that's what I did. Most of the money went into the joint account and paid for household expenses, bills etc but we retained something each out of our incomes for personal expenses. He earned a lot more than me, had a lot more disposable, managed to spend everything and run up a five figure overdraft into the bargain. I 'put a bit by' out of mine. When he eventually walked out those small savings were vital.

It's a big reason why I think couples should always retain some financial independence.

I'm getting better at saving. I have always saved but I quite often have created a rainy day situation for myself. I've country hoped a fair bit. We save as much as we can at the moment but it's hardly anything. We are no where near close to six months in salary saved but we put aside enough each fortnight for bills so we would cope for a bit. Things are looking up financially and rather then increase expenditure our plan is to keep our budget the same for about 3 months and then reassess.

We balance it out, save for retirement but spend a reasonable amount on treats such as holidays for now because you never know what might be around the corner. My late mother saved for retirement but when she got there her health was poor so she couldn't use that money for holidays and she definitely regretted saving so much and not spending and I have never forgotten that.

I am not a massive spender but we like to have nice things sometimes.

We are paying off our mortgage, so £500 extra a month goes to that, so we are spending but saving at the same time.

Everything else spare goes into my pension pot.

My parents were 'savers'. I was one of four children and money was tight. We were loved and well looked after within our limited means. Small spare amounts were religiously saved and mum and dad always spoke of their dreams for retirement. Modest, but for them a high aspiration ... a little caravan or campervan to potter around in and visit all the places they'd dreamed of but never been able to go. All their lives, a few bob here and there went into the savings pot. We four kids grew up and left home, and still mum and dad made their plans and saved their pennies. Then, in her early 50s, mum died. Dad had a pot of savings, and nobody to share it with, he was lonely and devastated. It taught me to live for today, I might not be here tomorrow.

Savers. Constantly. We have direct debits into our savings account. Its helped a lot, as whenever we have to do something with the house, the money is instantly there. And carpets and windows cost a fortune!

BUT, we spend very little on ourselves. We spend damn all on food, for example, and only buy whatever foods on offer. We buy a lot of books, but all from charity shops. We only have a holiday abroad every second year - even then we don't go mad. We buy cheap clothes, very occasionally. I never go to the hairdresser (am a lazy cow also). I "treat" myself in Primark. I rather enjoy Primark though

We drive cars into the ground and then will buy a cheap car when we have to. DH has a theory that you should spend 1K on every year you expect to have the car - its probably bollocks, tbh. But it means we don't ever buy a car for more than 6K. Its worked out fine, in fairness. Cars are cars.

Wow, reading back we sound so tight! We joke about it sometimes and try to encourage each other to buy something fancy for Goodness sake!

On the plus side, we have zero debt. We have a cushion in case someone gets sick and can't work. It means we actually have very little money stress.

We got 99 problems but bills ain't one.

We have friends who are the opposite. Live in a bloody expensive part of London, only one income....and a champagne lifestyle. They spend a FORTUNE on food. Their cheese budget alone!

The kid is dressed in Boden, and all the paint is Farrow & Ball.

On the one hand thats what they enjoy, very VERY much.

On the other most of their rows are about money, and he works all hours to make it. Hardly ever at home.

Swings and roundabouts, I guess.

Cogito you're so right about financial independence.

My mother 'forced' me to open my own savings account, I really didn't want to keep anything from my spouse, I thought we would always share everything with each other.

As soon as we split up he's asked for the money he borrowed for us both to go on holiday etc.

Live for today.
Dad died 18 months after retirement.
Mum now has plenty of money for he first time in her life and no one to spend it on or with.
It's very very sad :(

I have 2 savings accounts...there is just nothing in them! :)
I am applying for jobs ATM.
If I get one I am going I start saving each month.

Both!
I put money retirement fund and don't spend all my wages so usually have money left over that gets spent on other stuff

Both, but used to be very much in the save, save, save camp. Then we realised that actually, we were living unnecessarily frugally because of the saving habit and loosened up a bit, our income had increased quite a bit relative to our outgoings and we were still living as if we had to account for every penny. So we have loosened the purse strings and started having more expensive holidays, replacing old furniture etc. Still save some money every month though, and savings are split between us, got around a year's joint income saved.

It's balance isn't it? Of course we need to have some money by for rainy days and retirement but what if those rainy days never come and what if you don't make retirement or you do but are too unfit to enjoy the money squirelled away?

I admit I'm a spender. My husband and I both are - we love travel, dining out, socialising, our motorbikes, our cars, I love clothes.. We have the money to do all this and I have a good pension but we should save a bit more..

BUT these stories of save save save depress the hell out of me... I think of all the things we'd have missed out on, amazing experiences and memories if we were like that... (Btw - not saying everything good costs money) You only live once folks - cram as much in as you sensibly can!