Saving v spending.. Do you ever go too far?

[anonymous-user]

Hey Everyone,

So I was reading the mega pension thread and luckily we are ok re pension. I have taken advantage of all the tax efficient savings, maxed out SAYE etc and my employer putting in circa 14% into the pension pot and me putting another 15% in. My daily living costs (inc gas, mortgage etc) as a percentage of income are about < 20% because I dont have cars to lease, debt to service and dont fall for all these new fangled must haves.. However...

My daily routine includes working from starbucks for a few hours a day. Partly a socialization thing, partly I like the coffee . So every day I have the same unlimited coffee @ £2.20 every day. It is my one vice but I feel bad because thats like > £50 a month I really dont spend the rest, save the occasional mega splurge (from cash).

Does anyone else get tied up in such minor things but feel guilty for doing it? I prolly wont stop doing it but surely I am not the only one that gets tied up on spending like 0.00001 (or something) on something they enjoy and brings them joy?

[CrgT16]

How did you managed to work those 2h when in lockdown?

You seem to be in a good situation with your savings/pension. If you think an extra £600 a year into your savings/pension is important just stop drinking the coffee?!

[Doofus]

ChocyLint1 said:

Hey Everyone,

So I was reading the mega pension thread and luckily we are ok re pension. I have taken advantage of all the tax efficient savings, maxed out SAYE etc and my employer putting in circa 14% into the pension pot and me putting another 15% in. My daily living costs (inc gas, mortgage etc) as a percentage of income are about < 20% because I dont have cars to lease, debt to service and dont fall for all these new fangled must haves.. However...

My daily routine includes working from starbucks for a few hours a day. Partly a socialization thing, partly I like the coffee . So every day I have the same unlimited coffee @ £2.20 every day. It is my one vice but I feel bad because thats like > £50 a month I really dont spend the rest, save the occasional mega splurge (from cash).

Does anyone else get tied up in such minor things but feel guilty for doing it? I prolly wont stop doing it but surely I am not the only one that gets tied up on spending like 0.00001 (or something) on something they enjoy and brings them joy?

I think it's a little sad that you live such an austere life, in which a cup of coffee each day brings you 'joy' as well as guilt.

Mind you, it's Starbucks coffee, so you're obviously insane.

[vulture1]

Yep. Life is for living and I am gulity of thrifting too much. Even when food shopping I could afford steak every day but just scrimp out as in my head im like (how much!)

I'm on just a very average uk salary but no kids no wife so money is mine to spend as I want.

[VR99]

I have been WFH most of this year and on average have saved £100 per month on coffees...typically at work I buy 1/2 per day and I also go through a similar 'guilt trip' each time I buy one.... the usual thought process is what if I saved that £2.50/£3 or invested it..sad I know.
As I've saved a fair bit on commuting and coffees this year then buying the odd 'poncey' coffee here and there does not feel as bad...we live once so if coffee is your vice then so be it. Hookers and Coke is much worse financially so it's all relative

Edited by VR99 on Sunday 6th December 14:57

[GliderRider]

Normally I would think you were mad for buying coffee out, but if you are getting a day's worth for £2.20, its not going to break the bank. A day's worth of coffees at home won't be free, once you've bought coffee/milk/sugar and boiled the kettle several times.

As you say, you enjoy the company, so its keeping you sane too!

[Drezza]

My ex left me for being a tight-arsed Yorkshireman, she was frivolous and I hated it much like she probably hated me for being the opposite lol. Probably best to find a compromise somewhere inbetween.

[bitchstewie]

I save a lot and I'm not tight but I do like thinking I've bought quality and got value for money.

£2.20/day on something that gives you a few hours distraction in these strange times is a bargain.

Enjoy every moment of it

[bristolbaron]

There’s not many with commuting expenses under £2.20, so seems good value for fuel!

We had a year where both kids were at nursery and we worked out my wife was effectively only earning £12 a day! Problem was she spent £8 on parking, £8 on lunch and £7.50 on coffee..

[Crumpet]

Nope. As long as I’ve paid my bills for the month, made my pension contribution and put a fixed amount away in savings the rest is there to fritter away on whatever I see fit - whatever brings pleasure basically - and I don’t feel guilty about it. Like you, that involves coffee, although somewhat better quality than Starbucks!

In all honesty I aim for my bank balance to be at £0 by the end of the month and I don’t really worry about what it’s been spent on.

[Olivera]

£2.20 per day in Starbucks is chump change, perhaps if it was £22.20 per day then it might be worth discussing.

[anonymous-user]

Hey Everyone,

Thanks for your thoughts. I concur that it isnt an issue really. I just tend to take everything to the extreme. Some people will say its a waste but I enjoy it.

And for those that feel sorry for me, don't - If I want anything I really desire, I just go buy whatever it is. I love all things technical and books so am pretty low rent (and cars obvs!) Holidays, no problem... Well it wouldnt be if we could fly but thats a different matter!

[Dave3166]

I’m the same about coffee.
I enjoy the experience.
Every time I’m going to buy one, well, most of the time I’m thinking how much is this costing me each time I buy one x about 3/4 a week over a year = £550 a year give or take.
But, I enjoy it, can afford it, so why not.
I don’t smoke etc etc.

What I’m saying is, if you didn’t go on holiday, got rid of your cars, stopped drinking coffee & doing the lottery twice a week, then you would have more money.

But, would you be enjoying life as much, probably not.

Save the coffee money, end of year you would have an extra £550 in your account, on the other hand, I may not live another year. So just do it.

I may be missing the point, but that’s what I think.

Waffling finished:-))

[drmike37]

It’s not the coffee money you need to worry about. It’s the tax bill your pension will bring when you go over your allowances!!

[Shnozz]

I really cannot believe you’d concern yourself for being frivolous over £2.20 worth of refillable coffee that accounts for 2 hours of your day.

Can you imagine lying on your death bed, looking back and thinking wtf?

[Welshbeef]

Next hop onto I’m tinder or plenty of fish or Grindr but get yourself a partner you’ll be a lot happier.

[Shnozz]

Welshbeef said:

Next hop onto I’m tinder or plenty of fish or Grindr but get yourself a partner you’ll be a lot happier.

I do wonder whether you spend your days in a haze of perpetual drunkenness.

[m_cozzy]

Welshbeef said:

Next hop onto I’m tinder or plenty of fish or Grindr but get yourself a partner you’ll be a lot happier.

Worst advice ever. You won't be and will have less freetime and money.

[Welshbeef]

Shnozz said:

I do wonder whether you spend your days in a haze of perpetual drunkenness.

We must think about each other a lot then.

How was your scotch on porridge this morning? I’ve not had a drop since Friday personally

[bobbysmithy]

Welshbeef said:

Next hop onto I’m tinder or plenty of fish or Grindr but get yourself a partner you’ll be a lot happier.

What are you talking about?