I was pondering recently whether we are in the minority because we don't have any savings speak of. We have a very small disposable income and having been silly with money in our youth have never managed to save up a rainy day fund. We have a very bad habit of relying on the credit card if we need and emergency repair or other mishap sorting.
Every year we say we are going to try and accrue some but we always find it's the case that if we do manage to save a few coppers then something will break so we have to blow the savings on that.I do wonder whether the ability to save is a genetic trait, either you can or you can't. I'm very much a splurger!! I've always found that money burns a hole in my pocket, I love shopping and always have something on my wish list - very rarely are the items on my list extravagant but there is usually something I am hankering after.
I can't remember ever managing to save up for anything unless you count selling things on eBay until have the amount I need - that's how I raised the money for my iPad.
My sister is exactly the opposite and from a young age she liked nothing more than counting her growing collection of pennies into her red cash tin - she now is very good with money, so it's my opinion that you can probably tell early on whether your children a going to be a saver or a splurger!!
However, I must confess that the advice given to me by the 101 year old lady in the pub on my birthday springs to mind - she said "Let me give you some advice, my dear. Spend your money. Don't save it. Spend it and enjoy. Don't save it like I did. It's no use to me now."
Maybe she had a point....
Hugs,
S x
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Oh I LOVE what the old lady said! I totally see her point.
ReplyDeleteNow I am weird, in that I neither save or splurge.
For example, I just bought two dresses for £14 and felt guilty. We are talking £28 in total. Hardly big shakes!!!
But I don't often buy things from "real" shops, I tend to charity shop it so full priced things (when still cheap) tend to make me feel like I am spending loads.
I never save money, I never over spend, I just live within my means.
I only ever owned a credit card when we backpacked in 1999-2000 and bought my didgeridoo. Got rid of it when home.
If I had loads of money, I would spend more naturally, but give loads to charity too.
We were born with nothing. We leave with nothing. We don't need anything other than a roof, clothes, a warm bed, food and love!
Having said that, I saw a vintage skirt today to die for. It was a tenner. Three size too small. Grrrrrrrrrrrr.
Hope the dog is better today? Sorry I didn't text back.
Big love and sort that date soon.
Gem x x x x x
Savings??? What on earth are they? Before the kids turned up and I had a proper job in the City, I had no problems saving. I was on a good salary and managed my finances pretty well. Hubby was also running a successful business. Then the recession of 1991 hit. We lost our business and our home.
ReplyDeleteSince then, it's been a succession of low paid jobs before finally becoming self employed again. We've never scaled the dizzy heights of the 80s again and we have no disposable income whatsoever. I've forgotten how to save, like you every time we get a couple of hundred quid together, something goes and we're back to square one.
I think it's nice to have a little bit saved up for emergencies but to be honest, you may as well spend it now while you can enjoy it. After all, you can't take it with you when you go ;)
We're useless at saving too, we don't have anything put by and I'm quite embarassed to have reached the age of 51 and still have no money left at the end of the month! Anytime I build up a little amount in my savings account something needs repairing or the kids need something, it's so frustrating.I'm determined to improve our finances and will try very hard not to overspend next year. But I do like the old lady's advice.
ReplyDeleteMe and the hubby are a bit of both. Over the years we have been together we make a concerted effort to save every month, but unfortunately most of this has gone into the very deep pockets of The Home Office! Therefore, 2013 will be the first year where our savings will actually start to accrue. We won't be able to touch this money as it is destined for helping build up our deposit (to buy a house). We each have an allowance each month that we can spend of anything we like too!
ReplyDeleteHi Sarah, Hope you are keeping well - I've sent you an e-mail about an order for one of your stitched houses. Hope it reaches you. XX
ReplyDelete