How responsible are you with money?

[Pumpkin]

Let's say you stumbled in to an extra $1000 dollars. Or whatever your currency equivalent is. It isn't a lot, but it is something. And let's say you are caught up on your bills and rent and other major financial obligations. But you do need a few extra things taken care of, your bed set is starting to wear, you'll need a new one soon, you have a problem with your car that isn't urgent but needs to be fixed eventually, your toaster oven broke so you've been using the oven but eventually you would like a new toaster oven for some smaller stuff. Just some not urgent purchases that you've been meaning to make when you save up some extra money.

Do you spend the $1000 on those kinds of things, or do you go out and purchase something you didn't need like a better TV or a new wardrobe or something along those lines (assuming you didn't need them) and just keep saving for the other stuff?

[Scotty_ffgamer]

If that money came to me right now, I'd immediately set it aside for the EoFF world meet up or put it aside for a different trip. If the world meet up wasn't a thing, I'd probably put it towards photography equipment.

[Shorty]

If they are not urgent things needing to be done, I would go on a shopping spree or take a small trip somewhere and tuck some of it away for saving.

[Pike]

That sounds about like when I get my tax rebate every year. Generally I dump it all into my "Emergency fund" category, which certain things you mentioned in your original post (like car repairs) would fall under. I also like having a "cushion"; i.e. if I lose my job I like having enough in my bank account to last me a couple of months.

I have learned to be pretty frugal since I don't make much money; however I also always give myself a little bit of "me money" every month in my budget which I use for pleasure purchases and the like. I also set aside a small amount of money every month to put toward larger pleasure purchases (like airplane tickets, computer parts, etc.)

[Psychotic]

I'm a money adviser. My parents both worked in banks and I was exposed to savings from a very young age. I'm pretty much the definition of responsible with money I don't spend all of my pay every month and that's not even a conscious decision to save. I don't just spend it just because it's there.

In response to the question, assuming I had no savings then yes of course I'd buy the essentials. Understanding needs vs wants is the basic principle of budgeting.

Baffles me that people say they'd go out on a spending spree. Utterly confuses me when nobody who earns a decent wage have no savings and live from payday to payday. And I really do mean a decent wage, before someone gets defensive - it is of course not a reality for many people and I'm not judging anyone who is in poverty - far from it. I think budgeting education should be mandatory in schools but that's a whole 'nother thang.

[Pumpkin]

Basically I mean if like you have a bit leftover for savings and you're on your way to paying for that stuff, but you can't yet. You could eventually, but not for a little while.

[Loony BoB]

When I come into unexpected money, I tend to buy a nice dinner and put all the rest into savings for already-planned long term purchases.

[Shauna]

I would probably put it away in my savings. I am quite responsible with the cash. :3

[noxious.sunshine]

If it's something like the car, I would spend the money on it. It's better to be preventative rather than wait until it becomes a real problem... Because then you're likely to be spending double that amount getting it fixed.

A mattress or something else? Nah.

This actually happened though- Jay got a whopping $4,000 from the Army while I was in Nashville (after the like total of $2,500 he got from student loans and the $1,500 our old roommate owed him).. As soon as he got caught up paying bills, he put $1,000 in savings- which is going towards having my daughter this Summer without having to work & be able to do whatever we want when it comes to fun stuff.

If it were me on my own, I would pay -ahead- on the bills that I could. Which is what I did when I got my tax refund & had my apartment with Parker. I got back like $4,700 and I actually overpaid my cell phone bill so that I would just be credited at the next bill cycle, paid the babysitter for like 2 months, paid 3 months worth of rent, and then what was left, I bought my MacBook and did some shopping for me and my girl. That way when I got paid from working, I could spend a little extra on other things.

[Dat Matt]

I've grown up learning accountancy, so I know the dangers of getting into debt. As my grannie always said "Never a borrower or a lender be". I don't borrow money from people, nor do I give it to anyone. If I were to lend money to someone, I would write it off in my mind expecting to never see it again. We call them "Bad Debts". Because of this mentality, not having money is never really been an issue for me. I've always had some money saved away incase I needed it, and not spent all my paycheck just because I had it.

I aim to spend as little as possible during the month, and anything that's left at the end of the month will get moved into a savings. I'm aiming to get this back up to 5x my monthly salary, just incase I need a large stack of money desperately, or something happens with work and I need a nest egg. This was shot down in September when I went out and bought a car, and this month when I had to repair said car/buy a new phone/pay for exams. Getting £1000 would probably go towards the savings until I reach that 5x salary goal i'm trying for.

Say I was at that threshold and I did come into some extra money, I'm not actually too sure what I would do with it. I would likely use the money to start building a gaming PC or buy a PS4 or something like that. Only if I could afford to do so though.

[Jess]

If I came into that kind of money, it would immediately go into savings for a house deposit. I am responsible with money; I have no debt and I don't own a credit card. When I got my annual bonus, I spent it on getting my car serviced and new tyres, instead of blowing it all on junk. I start buying Christmas presents in September so I'm not broke come December. That being said; I don't have a huge amount of savings, because I simply can't afford to save that much on a monthly basis, as something always needs to be done!

[Rocket Edge]

I'm not responsible at all. I spent 300 over the Easter weekend just because I had it. When life tells me to be more responsible with it, I know I will, it's just something I haven't made a priority yet. I really should make it a priority!

[Shiny]

I tend to just put money in my savings until there's a reason for me to need it: case in point my France and Itatly trip coming up. I do need a new mattress but it isn't an urgent need so it would definitely go in to savings.

[Parker]

I am terrible with my student loan, I'd probably end up spending that $1000 fairly quickly. It's not a very great amount of money and seeing as I have no income aside from student loans it would likely go on food and emergency stuff relatively quickly.

When I have an actual income tho I am usually pretty good with saving. Ideally, I'd like to save like 50% of my wages. This isn't very likely at all, but would be amazing. When I get a "real" job, I'm planning to save as much as possible. I guess if I was super frugal and already had a strict savings routine I'd be tempted to spend the £1k on something nice.

[Pant Leg Eater from the Bad World]

I suppose it depends on how you see financial responsibility. I pay all my bills and always have food to eat, but pretty much live paycheck to paycheck because I spend whatever money is left over on whatever I want.

Actually, this is only not ideal for me right now because of an unfortunate series of events which has led to me utilizing my emergency credit cards more often than I would like in the past few months.

But I still do what I want with my moneys.