When to splurge and when to save

When to splurge and when to save

Money can’t buy you happiness, but knowing what to spend it on can help…

Money can’t buy you happiness, but knowing what to spend it on can help…

If you’re retired or starting to think about slowing down at work, you may need to rethink your relationship with money as your income lessens.

It’s not about living like a pauper, however. It’s about being clever when it comes to knowing when to save your money – and when to spend it.

Use the following as guidance and you should be able to keep your finances on track while still living life to the full.

Splurge…


On wardrobe staples

One of the great things about getting older is learning what suits you and crafting out your own, personal style. This means it makes much more sense to invest in some key pieces that you can team with different accessories.

For the new season, a warm and stylish winter coat in a gorgeous colour is worth a splurge, plus a pair of durable and comfortable winter boots. A practical but beautiful handbag, a silk blouse and a cashmere jumper are other key pieces worth investing in.

For more tips on this, check out our article, Three steps to a capsule wardrobe.

On products that offer better value

As above, the more you use something, the more it’s worth spending money on as it works out as having a cheaper cost-per-use.

So when working out if something is worth the extra money, ask yourself how often you will use it, or how long it will last.

For example, a bottle of Fairy Liquid may have a higher initial cost, but it lasts 50% longer than the next best-selling brand. This means you would have to find a bottle of washing-up liquid that is half the price of a bottle of Fairy to make it better value for money.

Also remember to look at measurements and not just at price, and if it’s something you will have for a long time, it is usually worth that extra bit of money.

On skin and hair care

As we age, looking after our skin and hair becomes even more important.

Introducing new products, such as serums and night creams, into your beauty routine will help to keep your skin youthful, and great skin beats great make-up hands down.

For tips on a routine that could work for you, see our article, Look 10 years younger in just four weeks with this skin care routine.

Your hair, too, changes with age, often becoming thinner and turning grey. If you don’t already have a favourite hairdresser, find one and visit them regularly. This way they will get to know your hair and what you like, so you can trust them and know that it is money well spent.

Then, between salon visits, keep your hair in tip-top condition with products tailored to ageing hair. For our recommendations, see our article, Anti-age your hair: the products and tips you need.

On making memories

In your winter years, you won’t look back and reminisce about all the money you had in the bank. You will remember those family get-togethers, your travels to exotic places, your visits to the theatre and maybe even that time you jumped out of a plane (with a parachute, of course).

Experiences are what life’s all about, so save where you can on the practicalities of life (see below), and spend money on that dream holiday, spending quality time with family and friends and getting off that sofa.

Save…


On your car

Many of us dream of owning a fancy car: top down, revs up. But fast cars are money guzzlers. The bigger the engine, the more petrol it needs and the more expensive it is to tax. Plus if something goes wrong, the repair costs will have you weeping into your leather car seats.

Instead, buy a practical car that will get you from A to B safely. A one-litre engine will save you on petrol and road tax (as little as £20 per year), plus it’s better for the environment too.

Because cars devalue so quickly, it’s best not to buy new. Instead look for one that has had one previous owner, then drive it until the repairs start to outweigh the monthly payments of buying another car.

On clothes for your grandchildren

Although it’s super tempting to go overboard when spending on your precious grandchildren, remind yourself how quickly they grow. No matter how cute that £40 ‘I love Nana’ babygro is, it’s not worth the money. Plus they probably have piles of clothes already.

Instead, check out charity shops and also join your local Facebay group on Facebook, where mums often sell big bundles of kiddie clothes for bargain prices. Just make sure you wash them all in Fairy Non-Bio after buying.

On food shopping

If you always find yourself gawping at the till when you see how much your weekly food shop has added up to, you need to be cleverer with your spending. Follow these tips:

  • Don’t shop at local or express stores. They might be more convenient, but this also means they can afford to be more expensive.
  • Make a list of what you need before you leave the house – and stick to it.
  • Eat before shopping – if you’re hungry you’re more likely to buy more food.
  • Look for products that are good value for money (see point under ‘splurge’).
  • Don’t be tempted to buy something just because it’s under offer. If you don’t need it, don’t buy it.
Do you have any clever saving tips? Or what do you simply have to splurge on? Let us know it the comments section below.

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Leave the the dishes to Fairy

Tawr 29/11/2016

Organisation and preparation is the key to spending time with your guests. Leave the washing up to FAIRY!

Food Glorious food

10/11/2016

Items are usually reduced as the night wears on - try your local supermarket - most items can be frozen or batch cooked and then frozen if you have the time. Veg could be made into nutritious soup & fruit into crumbles or smoothies.Great for lunch. Bargains can be had for 10p! We always have a weekly menu, shop accordingly, try to use foods in season (cheaper) and stick to it.Cook from scratch when you can - its cheaper and better for you.

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