Feel like spending .......................

1966

.......................OK let me start by saying firstly - yes I am lucky I have retained my job through this mess ......................................but like many during the recession I have all but cut out spending on clothes / house. In the last couple of weeks though I am feeling the urge to breakout and start treating myself and doing those jobs on the house that have been ignored for too long and am doubley sick of living the life of a hermit.

Maybe - just maybe - if others like me start to actually spend that this could rebound in time and make a difference. Don't get me wrong this urge is not because of any confidence I have in the future of my job or our economy its more a case of wanting to get back that feeling of actually living again and another point is that my house is beginning to look "tired".

shedweller

Here's my take on it. I have a family of three kids. Wife works part time, me full time.
Two cars are a must.
We bought a house just before the crest of the wave.
The list goes on.
We save a little but it is small and often gets dipped into for emergency jobs like a clutch in the car or what have you. Result is im not really saving at all!
Our cashflow is flowing very fast indeed.

I am already spending virtually ALL my money!

But thats my situation. OP, do you mean to tell me there are people out there working AND saving a lot of their money? Do you mean to tell me there are people out there that could spend more money if they wanted, but choose not to at the moment?:(:confused:

Have these people (the ones that are flush) literally cut spending on everything?

I know there are a lot that have but they have to to pay the mortgage and other essentials. They dont have spare cash anyway.

But i get your point. Those that are in jobs and are saving tons of cash need to cop on and start spending it as much as i already am!!:)

Voltex

shedweller wrote: »

Here's my take on it. I have a family of three kids. Wife works part time, me full time.
Two cars are a must.
We bought a house just before the crest of the wave.
The list goes on.
We save a little but it is small and often gets dipped into for emergency jobs like a clutch in the car or what have you. Result is im not really saving at all!
Our cashflow is flowing very fast indeed.

I am already spending virtually ALL my money!

But thats my situation. OP, do you mean to tell me there are people out there working AND saving a lot of their money? Do you mean to tell me there are people out there that could spend more money if they wanted, but choose not to at the moment?:(:confused:

Have these people (the ones that are flush) literally cut spending on everything?

I know there are a lot that have but they have to to pay the mortgage and other essentials. They dont have spare cash anyway.

But i get your point. Those that are in jobs and are saving tons of cash need to cop on and start spending it as much as i already am!!:)

One of the best posts Iv read on boards in years!!
Really summed up the typical situation for young families in Ireland today.
Thanks!!!

johnnyskeleton

shedweller wrote: »

But thats my situation. OP, do you mean to tell me there are people out there working AND saving a lot of their money? Do you mean to tell me there are people out there that could spend more money if they wanted, but choose not to at the moment?:(:confused:

Have these people (the ones that are flush) literally cut spending on everything?

I know there are a lot that have but they have to to pay the mortgage and other essentials. They dont have spare cash anyway.

But i get your point. Those that are in jobs and are saving tons of cash need to cop on and start spending it as much as i already am!!:)

I'm not sure if you are being sarcastic, but I hate the way we are being constantly being told to spend more. But saving is good for the economy, good for the banks, and good for households. Everyone should save at least something.

Moreover, if I'm happy with my current level of spending and don't need anything else, what should I spend it on?

accensi0n

shedweller wrote: »

But thats my situation. OP, do you mean to tell me there are people out there working AND saving a lot of their money? Do you mean to tell me there are people out there that could spend more money if they wanted, but choose not to at the moment?:(:confused:

Have these people (the ones that are flush) literally cut spending on everything?

I know there are a lot that have but they have to to pay the mortgage and other essentials. They dont have spare cash anyway.

But i get your point. Those that are in jobs and are saving tons of cash need to cop on and start spending it as much as i already am!!:)

What? Are you telling people they should get out there and spend there money, just to spend it?

mistermouse

I find myself spending savings I made during the boom years on starting a business. During the boom I saved a little, thought about a mortgage but didn't thank god, but suddenly found myself needing to spend what I have to set up. there is little or no help setting up but people need to spend with local businesses. Its local businesses that are helping me by working with me

I am amazed at how much small businesses are trying hard to keep afloat and how much they are trying to use other small businesses, but at the end of the day they need ordinary customers to keep the wheels on the wagon

The Government keep whipping consumers and consumer confidence which in turn will close small businesses and lengthen the dole queues

Boskowski

I lost all confidence in those small businesses in the 'boom' years when they tried nothing but shaft me for their shoddy services/products. That is if they bothered showing up at all.
I couldn't give a rats about them. I'll buy if they convince me through price and quality but not over some undeserved local loyalty thing.

Gumbo

I spend my wages every week, theres nothing left at the end of it. I get paid Thursday and immediately i transfer online my outgoings and basically left with pocket money for the week.

if i had more, i'd spend it, but currently i dont, so i find all this slogan shouting of "get out and spend" or "spend locally" a PITA, as what i have is gone by Friday anyhow :mad:

the keen edge

shedweller wrote: »

But thats my situation. OP, do you mean to tell me there are people out there working AND saving a lot of their money? Do you mean to tell me there are people out there that could spend more money if they wanted, but choose not to at the moment?:(:confused:

Have these people (the ones that are flush) literally cut spending on everything?

You're confused that people are putting away a few Euro whilst in the midst of the biggest economic recession of modern times?.

Now I'm confused!.

hmmm

What some people are describing, with two people working yet little disposable income is very reminiscent of the "Two income trap" as described by Elizabeth Warren in her book.

ianuss

Until I see the likes of Michael Noonan provide evidence that they're spending EVERY SINGLE CENT they earn I'm going to go about my life and spend/save as I please. That argument that we need to spend to get the economy growing is a crock of sh1t.

ianuss

hmmm wrote: »

What some people are describing, with two people working yet little disposable income is very reminiscent of the "Two income trap" as described by Elizabeth Warren in her book.

I only recently watched a few of her lectures on the subject. It would really make you consider the real cost of kids if you don't already have any.

Icepick

The thing is that when I spend, I find loads of stuff cheaper on British web shops.

shedweller

johnnyskeleton wrote: »

I'm not sure if you are being sarcastic, but I hate the way we are being constantly being told to spend more. But saving is good for the economy, good for the banks, and good for households. Everyone should save at least something.

Moreover, if I'm happy with my current level of spending and don't need anything else, what should I spend it on?

Not sarcastic at all. I am genuine when i question being asked to spend more! Ok, i may be a minority and the question not really apply to me but i don't think i'm that much of a minority.

accensi0n wrote: »

What? Are you telling people they should get out there and spend there money, just to spend it?

My sentiments exactly!:D

the keen edge wrote: »

You're confused that people are putting away a few Euro whilst in the midst of the biggest economic recession of modern times?.

Now I'm confused!.

Ya, i wasn't clear there. You see, the likes of me with a family is already spending everything i've got, as i went on about above. So i (and the likes of me) cannot be held responsible for stalling the economy. (can we?)
But to answer your question, going on the OP's post, there are people out there saving a little too much maybe?
Ok, they want to pay off mortgages (oh i wish!!) and loans etc. should it all hit the fan someday. But are they in such numbers that they are affecting the economy?

How does all this spending compare to, say, the tax take from new houses etc. like what was going on way back when?