Saver or Spender - tight or generous?

Over the years I've had many opportunities to 'squirrel' away serious-ish money for a rainy day.

Business sold, inheritance, investments cashed in - blown the fucking lot. I've got one last chance of financial redemption coming up. Will I revert to type or be grown up and sensible?

Indian Dan said:

Over the years I've had many opportunities to 'squirrel' away serious-ish money for a rainy day.

Business sold, inheritance, investments cashed in - blown the fucking lot. I've got one last chance of financial redemption coming up. Will I revert to type or be grown up and sensible?

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Obviously you were younger when you squandered/lost your previous cash Dan and possibly there were unsettling factors which 'may' have led to your actions.....BUT you realise that you lost out imo when you say...'blown the fucking lot'. Older now and more than likely wiser than you were you will do the right thing for how you feel at this upcoming opportunity.

I don't know you well enough to say, Dan.

Having said that, you'll blow the fucking lot again.

Saving is pointless in this millennium. It's all about investing.

But is it worth investing for the future when you're 62?

I'm already planning trips to coincide with sporting events and I've not received a penny yet! Doesn't bode well, does it.

Bit of both. I budget down to my last penny and keep track of everything that I've spent. I was on more money in my last job with a lower rent and so I saved up a fair amount although that was so that I could do something enjoyable with that money. Now I earn less with higher outgoings so I still budget everything and I'm a bit stingy with some things so that I can focus on other things. I'm not really able to put away much now but I will be trying to put away £25 a month just to build up a bit of a safety net.

It's a bit frustrating as I'd been debt free for a couple of years but I've got a couple of things on a 0% interest credit card. Its safe as I'll pay it off but I'd prefer to be back where I was two years ago.

On the flip side my parents saved everything, bought there own house and brought up four children that weren't ever there's thinking they could enjoy any money when they were retired but my Dad's not well enough to enjoy it. They did get to do some nice things but not as much as they'd planned so I think if you've enjoyed that money don't be to hard on yourself Dan.

I'm only 21 but I've always been quite tight with money. At Uni I budgeted for my first two years to last on £40 a week all in (excluding rent) and very rarely went above that. This year, after having two jobs for a 18 months and a year respectively, I've been a bit less stringent and enjoyed myself more. In hindsight I wish I'd done that more in my first two years (I still had a good time, just not as much as I could have done maybe).

Think it probably stems from the way I was brought up.

I have some rainy day money, but never feel it's enough. I don't think I ever will, and I'll probably die aged about 57 and the kids will piss the lot up the wall.

Nowadays, I save - I came out of uni however with a maxed out £2800 overdraft facility from enjoying myself way too much in my final year. Thankfully I got a tidy little job pretty much straight away and got it paid off within 11 months.

House deposit I guess is the next goal.

I really don't envy the youth and their exorbitant house prices, student debts, working until 70 and all that.

Agree with that. Looking at 70 being retirement age, although they will be the beneficiaries of the older generation's house prices etc.

Just hope everyone's not been blown to bits by then

I've spunked everything I've earnt. 23 and bar 3 months whilst I was 21 I've worked full time since I was 17. Not until the last 6 months have I finally started being a little more in control.

I either don't spend anything for months, or I'll go and spend thousands within a short period. Never go short though.

I've been lucky down the years moneywise but I like to give it away to the kids otherwise id waste it on shit like a £400 coat I've worn twice.

Abertawe said:

Saving is pointless in this millennium. It's all about investing.

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Thankyou for that informed opinion.

Saver - without being tight, I don't spend (apart from usual weekly outlays, like bottles of wine) because I don't need anything.

I'm a saver. I think that part of that is being older. When you're young you tend to fritter money away on utter rubbish and not think twice about it. Even if it's little things like buying a can of pop from the corner shop. But these things all add up. Personally, I don't spend a penny on anything other than putting it into the joint account. There are times when I'll buy myself some clothes or fancy going out for food/drinks, but in general I don't see anything out there worth spending money on. I'd rather make mine and my family's life better than spend money on something that will give me five minutes of pleasure.

I piss money up the wall - but to a point. I wouldn't ever not have savings and if I was hard up I... still wouldn't touch those savings (obviously as long as they have an acceptable returns rate above inflation).

I do both because I'm rich.

Look Out There Are Llamas said:

I piss money up the wall - but to a point. I wouldn't ever not have savings and if I was hard up I... still wouldn't touch those savings (obviously as long as they have an acceptable returns rate above inflation).

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you have savings ? Obviously not from Nigeria.....