Reply to: [Attempt at a serious topic] What is your attitude to money?

[IsayIsayIsay]

I think a lot of this depends on your attitude and belief with regards to your ability to generate revenue in the future. I've just been through a challenging personal time with loss of family members etc. and during the past 4 years I've not been able to rely on my ability to generate money and so I've pulled my horns in, cleared all debt and lived a frugal life. Now the fog is starting to lift and I am seeing I am capable and in demand in my specific area, I'm starting to let go a little and trust in my ability to be in work and at a decent rate for the foreseeable future. Whilst you can never be as sure as a perm role (albeit I was put on redundancy list after working like a madman for 18mths on a programme - part of which meant I decided I'd never be put in that position again), knowing you can pick up a contract if you put in the right effort all helps to secure the ability to spend some wonga!

[quackhandle]

It really can. I know several people in quite normal jobs who have saved up for big projects and paid without debt. It depends how long you are prepared to wait - agree that it often makes sense to get debt so you can enjoy the work for all the years you are paying it off though.

Maybe you're guilty of obsessing over a large warchest that you refuse to touch "it's special money"?

I have paid for house renovations/cars with no debt (and did get a great deal on the car) but sometimes it can sting you in the arse, ie paying for new kitchen then the 2008 credit crunch happens, both myself and wife out of work and you have used your liquid assets and no one is offering you any decent credit.

I have been topping up the pensions with warchest funds, but yes sometimes you do fret over it.

qh

[BR14]

If it rolls, flies, floats or fornicates, rent it by the hour.

ftfy

[WTFH]

If it flies, floats or fornicates, rent it by the hour.

[d000hg]

I personally don't like having any form of debt but if you want to do stuff like house extensions/renovations, it can't be done without it (unless you have won the lottery, inheritance, etc).

It really can. I know several people in quite normal jobs who have saved up for big projects and paid without debt. It depends how long you are prepared to wait - agree that it often makes sense to get debt so you can enjoy the work for all the years you are paying it off though.

After contracting for over 15 years I sometimes feel I should have more assets

Maybe you're guilty of obsessing over a large warchest that you refuse to touch "it's special money"?

[GJABS]

aeroplanes.

[Whorty]

For those savers out there who have difficulty spending the cash they have what keeps you incentivized to work? This is a question that has come up often as a result of the pandemic - Many people felt that they dont need the financial rewards of work and threw in the towel

Do savers here who are frugal (and not stingy) actually ever choose to exercise voluntary retirement rather than forced termination ?!

To answer the OP first ... money can't make you happy, but it does give you options. Having some options is better than having none!

Re the above, I could retire today but chose to go back to work 5 days a week (actually 10 days work in 9 to get every other Friday off) from the 2 days I was doing. Not for the money, but for the social aspect. Not sure how long I'll do this, but for now it's good for me as I live alone and it's winter and bugger all to do otherwise.

I do plan to semi-retire, maybe work 6 months on, 6 months off, but not sure when yet.

Have no kids or dependents so my life plan is to spend every penny I have before I die. If only I knew when my last day will be, I could do this properly, instead I'll be drawing down c.£40k is every year from savings and hope I don't live past 90.

[quackhandle]

I have always taken after my dad, in that with money if you try to live at each extreme (never spend a penny / get racked up with mountains of debt) then life isn't much fun.

It is trying to find that happy medium. I personally don't like having any form of debt but if you want to do stuff like house extensions/renovations, it can't be done without it (unless you have won the lottery, inheritance, etc).

After contracting for over 15 years I sometimes feel I should have more assets but I do have healthy warchest and two decent pension pots.

qh

[d000hg]

For those savers out there who have difficulty spending the cash they have what keeps you incentivized to work? This is a question that has come up often as a result of the pandemic - Many people felt that they dont need the financial rewards of work and threw in the towel

Do savers here who are frugal (and not stingy) actually ever choose to exercise voluntary retirement rather than forced termination ?!

I hope to. If we hadn't chosen to put my late parents' inheritance into a big house I could have been looking at it already!

[vetran]

You could have at least tipped a full tenner!

so when you visit he will be up to 18.47?

[Whorty]

You've got £8.47 in the fruit bowl in the hallway though.

You could have at least tipped a full tenner!

[vetran]

What's that got to do with anything? If you can afford to retire, or semi-retire, then why not? Enjoy life while you're young enough to make the most of it!

Indeed if I had my time again I would partially retire ASAP I don't love work!

[ladymuck]

I’m only 40

What's that got to do with anything? If you can afford to retire, or semi-retire, then why not? Enjoy life while you're young enough to make the most of it!

[SimonMac]

For those savers out there who have difficulty spending the cash they have what keeps you incentivized to work? This is a question that has come up often as a result of the pandemic - Many people felt that they dont need the financial rewards of work and threw in the towel

Do savers here who are frugal (and not stingy) actually ever choose to exercise voluntary retirement rather than forced termination ?!

I’m only 40

[vetran]

For those savers out there who have difficulty spending the cash they have what keeps you incentivized to work? This is a question that has come up often as a result of the pandemic - Many people felt that they dont need the financial rewards of work and threw in the towel

Do savers here who are frugal (and not stingy) actually ever choose to exercise voluntary retirement rather than forced termination ?!

To be fair I have a fairly easy life they pay me to put up with stupidity and penny pinching!

Retirement is not far away though. It will be partial and hopefully on my terms.