Spend or Save?

When your money comes in every month/bi monthly, do you aim to save any of it, or do you like to spend it all ?

Personally i like to save about £50 each month

3 Likes

I always aim to save ! Not always successful though ha !

3 Likes

Likewise I try to save as much as I can at current. Building up a deposit for a house :house:

Although I still feel I keep back enough to enjoy myself.

I’m quite lucky as I have a very low committed spend.

1 Like

Spend. Spend EVERYTHING!

2 Likes

Single big spender or daily impulse spending?!

I’d say both. My daily spend is usually around 100£ or so and then there’s the occasional big purchase when I walk by a shop I like.

1 Like

Save! Sound boring don’t I :joy: As soon as I get paid I put as much as I think I can get away with in a pot. A lot less tempted when it’s not showing in balance in home screen. Cheapskate day to day, save for the luxuries.

1 Like

Phew! Thought I was the only one here that does that :joy:

1 Like

Impressive spending.

1 Like

My bar chart is bigger than yours.

3 Likes

The bigger the merrier. Just make sure the red bar is taller than the green one. You don’t want to be saving money do you? That’d be boring. :joy:

I have credit cards and a bit of money set aside for unexpected bills so I don’t save. I work hard so like to spend my money and enjoy it, you can’t take it with you when you leave this life :face_with_monocle:

2 Likes

It’s incredibly vulgar to brag about spending thousands per month. Just saying.

9 Likes

I try and save as much as I can each month. It’s definitely been easier since I started using Monzo. Every time I get my payday notification I move as much as I can afford into a savings pot. Then I’ll invest a small amount from there every now and then or plonk some in an ISA. It’s made me a lot more proactive about that sorta stuff, just because it’s so easy to do and clearer where my money is.

Automatic weekly saving through Moneybox has helped too. I don’t even have to think about that and the amount per week is small enough not to be noticeable.

Saving makes me feel fuzzy inside - it’s comforting to have a safety net, but I think it’s important to save towards something nice every now and then too.

1 Like

Saving is my priority.

Budget is based on essentials, groceries, minimum eating/drinking out, then saving; and saving to the max.

A bit of both. I try to save. There are a lot of things that I would like to buy as bigger purchases, but saving is slow progress. And honestly, I’m not scrimping and saving every penny because spending often ends up higher priority.

I have a budget. Every time I’m paid I check my budget, and any money left over goes into a pot. Just before my next payday, I move what’s in the pot to a separate savings account that’s harder to access. Along with anything left over by the time my next payday rolls around. Sometimes I’ll squirrel it away more frequently if I know I won’t need it, just to lock it up.

But usually there’s not a lot to put away, if anything, because I always think of things I want to buy first.

Still, something is better than nothing! I try to find balance. There are things I really want but not at the expense of living the life I want now. I don’t know how long it will last, after all!

1 Like

The more I read about people saving the idea of sweeping remaining funds into a savings account before pay day sounds like a great idea

1 Like

This is what I do the night before Pay day, just sweep everything out. With plum integration I’m hoping this will do it for me during the month and save even more!

1 Like

I’ll start to do this. Hopefully automattic one day :fast_forward:

2 Likes

It’s going to be a huge shock to an awful lot of people of that turns out not to be true :scream:

1 Like