SSIA's - Do you splurge or save yours?

pandamoanium

Just reading the "Are/Were you prepared for the recession?" thread got me thinking..

Those of us who opened up an SSIA and when it matured during the boom times - did you stash it away to build up a nice little nest egg for yourselves to come in handy for the rainy day which appears to have arrived, or did you splash out and splurge it all?

Back when mine matured it appeared that everyone was going gaga thinking of ways to spend theirs - deposit on a house, shiny new car, dream holidays...

I always had it in mind that I'd save the majority of it - I did however spend a large chunk of it (about a 1/3!) on a dream holiday for the family just last year - other than that though haven't touched it.

Was everyone really spending those faster than if it had gone out of fashion??

m5ex9oqjawdg2i

Didn't have one, was in college at the time and didn't have a lot of money... oops?

Michellenman

I bought a car with mine. Worth it.

aphex™

I was in school/ college too.

We don't need a poll for this. You all spent it on LCD tvs, ****e property "investments" in the middle of nowhere (from Longford to Bulgaria) and holidays. And coke. In that order*.



*Except Michellenman.

Rented Mule

It's fairly obvious that the majority of the country spent theirs, as it was one of the gimmicks that kept the economy afloat at the time.

Biggins

Seen the coming writing on the wall as regards the economy.
Saved the final figure and invested a small part of it in non-property related plans.
The rest is put away elsewhere by methods where it will retain its value and is guaranteed of growth.

Aldebaran

Biggins wrote: »

Seen the coming writing on the wall as regards the economy.
Saved the final figure and invested a small part of it in non-property related plans.
The rest is put away elsewhere by methods where it will retain its value and is guaranteed of growth.

You're boring, Biggins. Quit boring everyone!

Big Wave

Where's the option for 'spent it wisely'? e.g. house deposit, clear loans, new car, etc....

Edit: and what's the difference between options 1 & 4? i.e. splurged & pissed away? They're the same!

Crap poll....

Gran Hermano

I had the max allowed in my SSIA, never planned on not blowing it but it's still intact and safely invested.

Hagar

Spent €12,000 on coke and hookers, wasted the rest.

CiaranC

Big Wave wrote: »

Where's the option for 'spent it wisely'? e.g. house deposit, clear loans, new car, etc....

House deposit post 2006 was hardly "spending it wisely" was it?

Big Wave

CiaranC wrote: »

House deposit post 2006 was hardly "spending it wisely" was it?

I borrowed from the Credit Union in early 2004, and used my SSAI to pay it back when it matured. And my house is up 35% more than what I paid.

Anyway - your point is irrelevant to my question to the OP.

Jimbo

Been in college at the time, I missed out on the whole SSIA thing.

What are the chances the goverment will introduce a similar scheme in the next budget to calm down this raging economy?

CiaranC

Big Wave wrote: »

And my house is up 35% more than what I paid.

Sure it is.

Biggins

jimbo78 wrote: »

Been in college at the time, I missed out on the whole SSIA thing.

What are the chances the government will introduce a similar scheme in the next budget to calm down this raging economy?

Good question.
On one hand they want us to spend, then on the other they want us to keep the money in the banks to help them stay afloat.
Someone more in tune might be able to answer that one. Its a good question though - would it be of additional benefit to the economy at the present time?

Burning Eclipse

Hagar wrote: »

Spent €12,000 on coke and hookers, wasted the rest.

A man who enjoys the finer things in life... Nice.

AlmightyCushion

Biggins wrote: »

Seen the coming writing on the wall as regards the economy.
Saved the final figure and invested a small part of it in non-property related plans.
The rest is put away elsewhere by methods where it will retain its value and is guaranteed of growth.

You spent it all on a fleet of jet skis, didn't you?

javaboy

Hagar wrote: »

Spent €12,000 on coke and hookers, wasted the rest.

The Best way to spend money.

K4t

The poll needs more options.

Snowie

payed of a loan i had...

and payed for me to do a collage course which in an industry Il never be able to work in .... Really could do with it for next years fee's and rent ....

Biggins

AlmightyCushion wrote: »

You spent it all on a fleet of jet skis, didn't you?

Nothing as mad as that.
I did the clever thing and bought a ford Etsel car! :pac:
(It was either that or a DeLorien!)

missbaker

Splurge. . Asia and Australia for 10 months. .not a days work done for 10 months. . Back to reality now!!

mr_disc

I have saved my one, Ain't touched one cent of it, Got it with RABO, nice interest coming in every year !!.

Firetrap

Cleared my debts with it, stuck the rest in a Rabo acount. Have been enjoying a debt free existence since then

Placid_Casual

Mine went towards a deposit on my apartment (right at the height of the boom). Financially speaking, not a good investment, but from a personal point of view i'm glad I have a place to call my own. So, all in all, no regrets...yet.

gripcasey

Splurge. . Australian 2 Month Family Holiday. I would do it all again!

skywalker_208

Was in college at the time so missed out on this by a year I think.
Remember nearly everyone else I knew during the payout year getting nice lump sums and buying nice tellys!

bnagrrl

mr_disc wrote: »

I have saved my one, Ain't touched one cent of it, Got it with RABO, nice interest coming in every year !!.

Ditto.

Firefox10

Sill have mine. Was going to spend some of it this year but now now my circumstances will be changing i wont be doing that.:(

johnp

jimbo78 wrote: »

Been in college at the time, I missed out on the whole SSIA thing.

What are the chances the goverment will introduce a similar scheme in the next budget to calm down this raging economy?

Wonder if they can afford it? I know they take x years to mature, but still...........
I'd love it if they did :pac:



Still have mine, was saving for a house (which I never bought), so it's in Rabo earning some extra cash.

Biggins

Aldebaran wrote: »

You're boring, Biggins. Quit boring everyone!

LOL

If you knew my life, what I've done and what I do, you'd NEVER call me boring LOL
...but out of work, I've had the pleasure of rocking and partying with the best, the worst of the famous all over.

Boring? Yea maybe when it came to being sensible with my cash. My kids will now reap the benefits.
Sorry if that offends ya.

Party on...

boards.

Used it as a deposit to buy a house off some poor sucker who couldn't afford the mortage and was about to have the house lifted of him and his new family.

Keeping an eye on the courts is well worth while.

starn

Biggins wrote: »

LOL

...but out of work, I've had the pleasure of rocking and partying with the best, the worst of the famous all over.

You didnt happen to party with Jazzey Jeff did you ?

I blew mine. Fast cars and faster women all the way thank you very much.

Senna

boards. wrote: »

Used it as a deposit to buy a house off some poor sucker who couldn't afford the mortage and was about to have the house lifted of him and his new family.

Keeping an eye on the courts is well worth while.

I'd watch who i'm calling sucker, this years bargain is nexts years asking price when it comes to property.

Firefox10

Well, it looks like the majority of people never even heard of an SSIA!:eek: Well that just about explains everything!

Financial Advisor: "So I take it you saved some money then?"

Celtic Cub: "Huh??"

Financial Advisor: "No Love. Saved. You Do know what saving money means?"

Celtic Cub "Huh??"

Financial Advisor: "Oh Dear God!!"

:pac:

reverandkenjami

I was still in school