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Saving money

lauranna

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OK, so lately the good news is I have stacked away a bit of money. Clearly no planning has gone into this, it just so happens that I am earning significantly more than I was and not really spending more. I mean I buy whatever I want but I am pretty low maintenance.

Now as an SP every part of me is screaming to blow the money.... to go travelling and spend and enjoy.....

What should I do with it? I have no particular financial ties like kids or mortgage etc. People are saying to buy a house but it seems like there isn't much point. When I am working I get accommodation anyway. So I don't really need much in the way of somewhere to live the rest of the time.

At the moment I am too busy working to get opportunity to spend irresponsibly. And the logical part of me is thinking maybe it is time to grow up and do something responsible with it. Any ideas?

Oh and I live in the UK. I realise nobody really buys houses in a lot of other countries.
 

Haight

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How old are you, and how long do you expect to earn "significantly more"?
 

Not_Me

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If you have a substantial sum saved, inflation should be your greatest concern. If it happens (very likely), you will essentially be losing 5 to 15% of your money per year without realizing it.
 

Coriolis

Si vis pacem, para bellum
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Make a budget. Take the majority of your extra funds, and start making some long-term investments. In the U.S. many people start returement accounts, or college savings for kids if they have them. Not sure what the customs are in the UK, but anything long-term would do. Keep some money easily accessible for emergency, and also budget some for immediate use to buy/do what you want.

About house buying: In the U.S., people in occupations that provide lodging (e.g. clergy, military) often reach retirement having built up no equity, and never having held a mortgage, and find it hard to do so at that time. If this might be an issue for you, consider buying property anyway. If not now, then in the near-term when you might be able to make more use of it.
 

Giggly

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You just need more exciting things to impulsively spend it on, SP. ;)
 

lauranna

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How old are you, and how long do you expect to earn "significantly more"?

I'm 28. Who knows how long... I'm working contracts so nothing is for sure long term. And I'm an SP so clearly anything could happen.
 

lauranna

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Actually i just lied. I just had a birthday. I'm 29 now. I forgot. Oh jesus the years are slipping away!
 

lauranna

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You just need more exciting things to impulsively spend it on, SP. ;)

haha I'm just working too much lately Ms Giggly. I am thinking I will take the whole of August off though and I'm sure given all that time I will find some impulsive trip involving extreme sports to drag the girlfriend on.....

I must be getting old if i am even having to think twice about what to do with this money.... hmmmmmmmm
 

lauranna

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Thanks for the mature responses [MENTION=9811]Coriolis[/MENTION] and [MENTION=2131]Not_Me[/MENTION]

Its funny that all the INTJs piped up. All this talk of responsibility is making me feel more rebellious but I appreciate your advice all the same....
 

Randomnity

insert random title here
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Travelling, if you have that desire. And in the meantime, regular savings account.

Other than that, I'd probably stash it away in some kind of retirement fund and try to forget about it.
 

spirilis

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Save most of it, but take a small cut--maybe 1/8th or 1/10th of it, if it's a huge sum--and go nuts. Enrich your life somehow. Just be sure that's all you're spending ;)
 

Aquarelle

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Save most of it, but take a small cut--maybe 1/8th or 1/10th of it, if it's a huge sum--and go nuts.
Agreed. Put most of it in a retirement account or invest it-- some sort of long-term savings account. But use some of it to have some fun too!
 

lauranna

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Save most of it, but take a small cut--maybe 1/8th or 1/10th of it, if it's a huge sum--and go nuts. Enrich your life somehow. Just be sure that's all you're spending ;)

Now this idea i like :newwink:
 

lauranna

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Travelling, if you have that desire. And in the meantime, regular savings account.

Other than that, I'd probably stash it away in some kind of retirement fund and try to forget about it.


Yeah i reckon i am going to use some to go travelling hang out in some exotic regions and do some extreme sports! yay
 

durentu

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It's sort of a moral hazard to ask a bunch of anonymous strangers to decide upon your savings on your behalf ... ya know what I mean ? If you are fishing for ideas, why not a free consultation with a professional?
 
H

Hate

Guest
haha. if you are hot and blonde with fantastic breasts then you are on.

Hot -
checkmark.jpg


Blonde - I can dye it.
checkmark.jpg


Fantastic breasts -
checkmark.jpg


Looks like I'm in, tell your girlfriend there's going to be a new addition to the family.
 

lauranna

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It's sort of a moral hazard to ask a bunch of anonymous strangers to decide upon your savings on your behalf ... ya know what I mean ? If you are fishing for ideas, why not a free consultation with a professional?

Well i get your point but all my friends and family are all for the buy a house option. But it seems like i may as well dig a big hole and pour money into it. I'm not liking that option. I'm just looking for ideas!
 

lauranna

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Hot -
checkmark.jpg


Blonde - I can dye it.
checkmark.jpg


Fantastic breasts -
checkmark.jpg


Looks like I'm in, tell your girlfriend there's going to be a new addition to the family.

I'm sure she won't mind, we are pretty liberal.
 
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