Hindsight & Spending

39
Posted 10th AprEdited by:"MrSprkle"
When all of this is over, are you going to change your spending? or plow on like before?

Do you think now, did I really need the latest iPhone on a £50 a month contract? or would my old iPhone on a £6 a month sim only managed?

Was leasing that Audi or Evoke really worth the £300+ a month?

Was eating out 3 times a week and takeaways every other night worth having no savings for a rainy (virus) day?

Of course in hindsight its easy to think Shoulda Woulda Coulda.. and esp easy for me, because I personally am preaching from the choir

But does anyone think this is a wake up call to a lifestyle that the majority of the UK couldn't maintain, or are you thinking you cant wait to get back to spending?
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Rune_2H11/04/2020 04:25

Comment deleted



Some people (myself included) are just managing on the household income.

None of us have iPhones, one 20 year old car for all three of us which we saved up to buy.

No credit cards at all

No debts at all.

We rarely have takeaways and if we do we get the cheapest options.

Never eat out.

Never go to the pub.

Daughter chooses to pay for Netflix with her wages but apart from that no subscriptions to anything.

I get paid weekly on a Friday. That money is usually gone by Monday as we need to buy a weeks worth of shopping plus fuel for getting to work.

Now I could get a better paid job, but when I did my mental health was seriously effected so I would rather be happy and poor than well off and depressed.
Nothing changing for me. I never buy anything unless I save for it first.
Only loan is the house mortgage but I did that because its cheaper than renting.

I make sure I save every payday for luxurious such as holidays. And I have various savings which I trickle money into as standing orders throughout the month.

If at the end of the month I have any spare money it goes straight into savings.

Im frugal at spending anyway, and always buying yellow label short dated stuff, if I can haggle a bill down by a few quid a month I will do it. It really does add up.

I'm lucky enough to be still in work. But if not I'd be out there applying for jobs. Local hospital is crying out for cleaners etc.
This website has honestly been the bain of my financial life I am a shopaholic I admit it I have bough so much crap that I will never even use but I just love getting a good deal

Just taken a 20% pay cut at work but bought and ebike yesterday.
.... if this virus is going to bankrupt me may aswell go out swinging
One great thing to come out of this already though has been community spirit. Everyone is helping each other, the way it should be
39 Comments
Since all this started, I've pretty much been buying just food.

I'm too concerned about if I'll be in employment.

I absolutely think people should be more careful with their money and not rely on credit but ironically it will fuel a deeper recession if they do.
Edited by: "mogsog" 10th Apr
Food shopping has / will continue to be our biggest change. Although i am reasonably strict on as little food waste as possible, this has made me even more careful. Plus trying to make the food last just a little longer by using cheap bulkers to fill us up like more seasonal veg, instead of more of the expensive protein part of the meal. We aren't particularly frivilous with other things anyway as we don't have a big income
mogsog10/04/2020 23:00

Since all this started, I've pretty much been buying just food.I'm too …Since all this started, I've pretty much been buying just food.I'm too concerned about if I'll be in employment.


I expect many are just buying food, but the bills dont stop, all those agreements are still going to have to be met, and like you i expect many are concerned about going back to a job afterwards..

I think though that something is going to make a lot of people reconsider their lifestyles, while i dislike the fact this is going to eat away at my savings, I know in the end I wont owe anymore than I went in with, and because of that I wont have the threats, stress and anxiety of repossession and debt collection.

While what I say probably isn't appreciated, I do feel a lot of the suffering because of this could of been reduced if people just considered the future, and stopped living a materialistic present.

I hope as a society we can learn a lot of lessons from this pandemic.
Edited by: "MrSprkle" 10th Apr
One great thing to come out of this already though has been community spirit. Everyone is helping each other, the way it should be
I fear for the economy after it's all settled down. Think pre-war Germany. Money virtually worthless.
I will probably spend the same as I’m quite frugal as it is. However, I won’t be doing that until I’ve built up four months of wages/bills cover as a cushion if this happens again.
Probably continue.
I generally buy most long shelf items on sale if required in x3s for the obvious reasons.
.MUFC.10/04/2020 23:11

I fear for the economy after it's all settled down. Think pre-war Germany. …I fear for the economy after it's all settled down. Think pre-war Germany. Money virtually worthless.


Me too, what can you even do with the savings you've worked hard to gain when they have no value?

That makes me want to buy what I need now while I still can.
Edited by: "mogsog" 11th Apr
mogsog10/04/2020 23:20

Me too, what can you even do with the savings you've worked hard to gain …Me too, what can you even do with the savings you've worked hard to gain they have no value?That makes me want to buy what I need now while I still can.


We could do with a global reset!
By the time this is over bartering will be the form of currency.
I will knit you a jumper if you give me half a dozen eggs.
Nothing changing for me. I never buy anything unless I save for it first.
Only loan is the house mortgage but I did that because its cheaper than renting.

I make sure I save every payday for luxurious such as holidays. And I have various savings which I trickle money into as standing orders throughout the month.

If at the end of the month I have any spare money it goes straight into savings.

Im frugal at spending anyway, and always buying yellow label short dated stuff, if I can haggle a bill down by a few quid a month I will do it. It really does add up.

I'm lucky enough to be still in work. But if not I'd be out there applying for jobs. Local hospital is crying out for cleaners etc.
dufflecoat_moon_turkey10/04/2020 23:29

By the time this is over bartering will be the form of currency.I will …By the time this is over bartering will be the form of currency.I will knit you a jumper if you give me half a dozen eggs.


We are doing that round here already! Been trading kids art stuff for basic foods we couldn't get hold of
mogsog10/04/2020 23:20

Me too, what can you even do with the savings you've worked hard to gain …Me too, what can you even do with the savings you've worked hard to gain they have no value?That makes me want to buy what I need now while I still can.


I’m the same it’s a case of all revved up and no place to go 40376529-EiVQM.jpg
This website has honestly been the bain of my financial life I am a shopaholic I admit it I have bough so much crap that I will never even use but I just love getting a good deal

Just taken a 20% pay cut at work but bought and ebike yesterday.
.... if this virus is going to bankrupt me may aswell go out swinging
MrSprkle10/04/2020 23:06

While what I say probably isn't appreciated, I do feel a lot of the …While what I say probably isn't appreciated, I do feel a lot of the suffering because of this could of been reduced if people just considered the future, and stopped living a materialistic present.


I think sadly a lot of people live for today and lead very expensive lifestyles, I think some will change but many will go back to their old ways. One thing that's really shown with this lockdown is how much unnecessary travel we can do without and the air pollution has reduced, I really hope home working for people who can work from home becomes an option.
To not use takeaways anymore, the costs were ridiculous and I'd rather cook myself. Instead of spending a tenner on a pizza I will buy a few days worth of shopping which would include a frozen pizza.
oli_1_uk11/04/2020 04:38

To not use takeaways anymore, the costs were ridiculous and I'd rather …To not use takeaways anymore, the costs were ridiculous and I'd rather cook myself. Instead of spending a tenner on a pizza I will buy a few days worth of shopping which would include a frozen pizza.


You can always bling up a supermarket pizza, with stuff from the fridge or cupboards.
Rune_2H11/04/2020 04:25

Comment deleted



Some people (myself included) are just managing on the household income.

None of us have iPhones, one 20 year old car for all three of us which we saved up to buy.

No credit cards at all

No debts at all.

We rarely have takeaways and if we do we get the cheapest options.

Never eat out.

Never go to the pub.

Daughter chooses to pay for Netflix with her wages but apart from that no subscriptions to anything.

I get paid weekly on a Friday. That money is usually gone by Monday as we need to buy a weeks worth of shopping plus fuel for getting to work.

Now I could get a better paid job, but when I did my mental health was seriously effected so I would rather be happy and poor than well off and depressed.
MrSprkle10/04/2020 23:06

I expect many are just buying food, but the bills dont stop, all those …I expect many are just buying food, but the bills dont stop, all those agreements are still going to have to be met, and like you i expect many are concerned about going back to a job afterwards.. I think though that something is going to make a lot of people reconsider their lifestyles, while i dislike the fact this is going to eat away at my savings, I know in the end I wont owe anymore than I went in with, and because of that I wont have the threats, stress and anxiety of repossession and debt collection.While what I say probably isn't appreciated, I do feel a lot of the suffering because of this could of been reduced if people just considered the future, and stopped living a materialistic present.I hope as a society we can learn a lot of lessons from this pandemic.


Unfortunately it will be people like yourself who will probably loose out the most, whilst a lot of people who are up to their eyes in debt will go bankrupt and/or have 90% of their debts wiped out the people like yourself who have been sensible will be paying all the extra income tax to repay the nations debts back and still be getting no interest on any savings you've managed to hang on to.
Before, during and after this I will continue to do my bit for the economy by spend spend spending. Usually on things I don’t quite need!!
Hasn’t really changed me or the wife much as she is furlong what ever it a called on going pay and I’m working as normal .

If anything we have more money as we are not buying fuel or spending money on day trips and meals out
Think a lot of people will want to build in some form of working from home, it won’t necessarily be seen as ‘skiving’. So could affect commuting in quite a big way, especially the car industry.

Will be interesting to see what happens with car leasing deals and those people on relatively high cost leases, income dropped or redundancy and they can’t get out of the deal by selling on the car for a bit of a hit like with a PCP or outright ownership.
Only thing that's really changed for me is how myself and husband food shop. We've always been quite bad for just popping in to m&s to buy an item or two after work. Now we're using wholesalers to stock up on essentials for cheaper and making use of what we already have more. It'll save us few quid but we're more doing it to stay away from the supermarkets as much we can both in store and online to make it easier for people who really need to go out.

Past that apart from the odd game for both of us and stationery for me neither of us spends a lot anyway and we have enough of both now to keep us happy for months. One of my new years resolutions was to not buy any new clothing (charity shop is fine but even then I think I've spent maybe £15?) and I've stuck to it completely so far. We don't have a car, don't have any credit card debt and have very low priced contracts anyway.
I took my car off the road, as my insurance renewal was yesterday, as was the tax so Sorn too, its only a 2008 Superb but why pay? Use the wife's car when we need to.

I think there is a bit of irony as well in the sense that people stuck on benefits might be better off than most at the moment and have better security than most.
Edited by: "MrSprkle" 11th Apr
Just.Wondering11/04/2020 05:07

You can always bling up a supermarket pizza, with stuff from the fridge or …You can always bling up a supermarket pizza, with stuff from the fridge or cupboards.


Very true, plus you know your pizza is gonna hot and not gonna be cold and late
Satan_Claws11/04/2020 07:42

so I would rather be happy and poor than well off and depressed.


Very well put, you usually find the more you climb the ladder and get more money, the more time and essentially your life you give up, yeah they have the money but don't have the time to enjoy the fruits of their labour.

All the managers I have ever worked for are working in the evenings or at weekends to try and keep up, but they have to do extra as they have become accustomed to their level of income (new car, pricey house, x amount of holidays a year etc) and also sometimes feel they have to keep up with others, to be perceived as though you're doing so well.

Not having much makes you appreciate what you do have, having a lot or everything makes things feel throw away.
.MUFC.10/04/2020 23:11

I fear for the economy after it's all settled down. Think pre-war Germany. …I fear for the economy after it's all settled down. Think pre-war Germany. Money virtually worthless.


Not gonna happen, the economy has been paused, totally different to a crash.
The one thing everyone should change is to make sure you have at least a 3 months financial safety net before resuming buying stuff you don't need. Same goes for business, it's shocking how many are trading on the edge whilst paying massive dividends to shareholders.
Edited by: "Azwipe" 12th Apr
MrSprkle11/04/2020 10:24

I took my car off the road, as my insurance renewal was yesterday, as was …I took my car off the road, as my insurance renewal was yesterday, as was the tax so Sorn too, its only a 2008 Superb but why pay? Use the wife's car when we need to.I think there is a bit of irony as well in the sense that people stuck on benefits might be better off than most at the moment and have better security than most.


That's just people trying to spread hate and division, 99% of people on benefits are not better off. They certainly aren't getting £2500k per month like some furloughed employees or self employed.
Azwipe12/04/2020 12:23

That's just people trying to spread hate and division, 99% of people on …That's just people trying to spread hate and division, 99% of people on benefits are not better off. They certainly aren't getting £2500k per month like some furloughed employees or self employed.



It wasn't an attack on people on benefits, I was just saying there is less change for those strictly on benefits. It was not my intention to single out anyone or cause division.
Nothing changing for me, already live well within my means, 6 month emergency fund, no debt etc. A few people do genuinely struggle but most are just wasteful. Get a payrise, a few months later moan how they're skint again, yet they managed before, cars on finance all over the place, screwed if you lose your job but hey it looks good on social media. I was hoping it would be a wake up call but it looks like the government will just bail them out.
Will probably have to cut back - the govt will have to increase taxes massively, perhaps scrap the 20% band or remove the tax free allowance and the 7.5% dividend band to pay for all this, as well as 40% pension contributions.

I just hope the companies like mine that have decided not to use any govt scheme don't get penalised too for having cash reserves.
MrKrabs12/04/2020 20:08

Will probably have to cut back - the govt will have to increase taxes …Will probably have to cut back - the govt will have to increase taxes massively, perhaps scrap the 20% band or remove the tax free allowance and the 7.5% dividend band to pay for all this, as well as 40% pension contributions.I just hope the companies like mine that have decided not to use any govt scheme don't get penalised too for having cash reserves.


I reckon higher rate taxpayers will be stung with higher NI 1st - its easy pickings unfortunately
Littlemunckin12/04/2020 20:37

I reckon higher rate taxpayers will be stung with higher NI 1st - its easy …I reckon higher rate taxpayers will be stung with higher NI 1st - its easy pickings unfortunately


You probably right. I don't begrudge paying more tax if it's going to be spent on higher wages for NHS front line workers, I just want it applied fairly. I have an LTD consultancy firm with wife, already have IR35 to worry about!
MrKrabs12/04/2020 21:27

You probably right. I don't begrudge paying more tax if it's going to be …You probably right. I don't begrudge paying more tax if it's going to be spent on higher wages for NHS front line workers, I just want it applied fairly. I have an LTD consultancy firm with wife, already have IR35 to worry about!


At least IR35 has been delayed for 12 months assuming you are private not public sector. Its going to be tough going for the next few years. I just hope, like you say, the burden is spread fairly
Littlemunckin12/04/2020 21:38

At least IR35 has been delayed for 12 months assuming you are private not …At least IR35 has been delayed for 12 months assuming you are private not public sector. Its going to be tough going for the next few years. I just hope, like you say, the burden is spread fairly


Spread fairly though according to who? I feel like the lowest earners already get a short end of the stick, and that is generally who is getting us through this crisis right now..
Edited by: "MrSprkle" 12th Apr
MrSprkle12/04/2020 21:47

Spread fairly though according to who? I feel like the lowest earners …Spread fairly though according to who? I feel like the lowest earners already get a short end of the stick, and that is generally who is getting us through this crisis right now..


Tell me about it. Personally i think the multi nationals & private equity owneds should suffer the most, but we all know they won't. Furlough alone wasn't intended to be abused by billionaire owners who can't be bothered to pay wages out of their own very deep back pockets
People have short memories. It's like the people who have a heart attack and swear that they'll commit to a healthy lifestyle after a brush with death. A week later they're washing down a bacon butty with a pint.
Personally, I'll go straight back to where I was because I've always ensured that we live within our means. As things stand, our outgoings have plummeted so there's a post lock down warchest raring to go.
Azwipe12/04/2020 12:23

That's just people trying to spread hate and division, 99% of people on …That's just people trying to spread hate and division, 99% of people on benefits are not better off. They certainly aren't getting £2500k per month like some furloughed employees or self employed.

Why should dolies get 2500 ....sat spongeing off the state least furloughed folk have contrubuted rather than relying on hard working folk funding their life long term. This is one of the only times I agree with state welfare (along with disabilities) give it to the people that have earned it not ten kids Tina or slob bob who has never worked a day in his life
Edited by: "chunk1985" 13th Apr
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