Excess money, do you SAVE or SPEND?

[Kay7979]

Ok, so I am curious. In most cases, when you have money left over at the end of the week or the month, do you mostly save and invest it, or mostly spend it. If spend it, what is your weakness?

I admit I am a saver/investor type. Not that I don't spend money on things we need, or want, especially vacations but I have an aversion to spending money on "stuff" that will be worth little or nothing in a few months. I figure you "get ahead" by saving rather than spending. Recreational shopping is not even a temptation. I suppose I'm an oddball that way.

 

[TheDisneyTraveler06]

Okay- well... I do both.

When I spend- My weaknesses are purses, shoes, pedicures, things that I DON'T have to have.

But most of the time I save it.
(I wanna go on another cruise!)

 

[cardaway]

If it's beyond our budget goals (which includes vacations and all other forms of entertainment) then we invest it.

Our current batch is going towards new flooring for the house and a CD. The flooring is both something we can enjoy and an investment in the value of the house.

 

[Miss Jasmine]

Leftover money usually gets saved.

Currently I am saving for new kitchen cabinets and counters. I'll be saving for a while for that.

 

[CarolG]

Sometimes I'll add a little to our "emergency cushion" savings account, sometimes I'll invest in our stock account. On rare occasions, we'll say OK, let's go get that whatever-it-is we've been wanting to buy.

But there hasn't been a lot left over lately since we're going to have two DS's in college for the next year!

 

[Crankyshank]

It goes towards home improvements.
DH's overtime this summer has gone to the new deck for example.

 

[GeorgeG]

Once everything else is covered, including contingency funds, I spend it. Life is too short not to enjoy what you work hard for.

 

[TinkerDaisy]

We spend it. My DH just started a 401K so that will help us save. We are both spenders, DH tries to be a saver but I usually convince him out of his money. I know I am bad and will pay for it in the future but I like to enjoy life as it comes. Never know when it will be your last.

 

[icebrat001]

Normally it's save, but now that we've just bought a house, I've thought of a thousand and one things that I just HAVE to have for the house, I'm pathetic, I don't even see why I want to tank more money into it when I know we are going to get rid of it for something better in 5 years.

 

[JVL1018]

Leftover money?? Excess money?? What's that??

We do about half and half, throw some in the savings account, spend some..whatever we feel like doing.
We have money going into savings as part of our budget, so we're already saving before we get any leftover.
Usually I think we just make bigger payments on our bills now that I think about it. Pay them down faster.

 

[Cool-Beans]

I am not familiar with this thing you refer to as "excess money."

I'm a spender , DH is a saver .

 

[MushyMushy]

For all you savers/investors:

I'm not worthy! I'm not worthy! I'm not worthy!

We spend down to the last dime. Sometimes I hate that about us, but my DH and I are both the same way and we're pretty content. We do have 401K, and DH has money invested through work, but we'd probably never have done that on our own.

 

[EthansMom]

We "pay ourselves first" with a good amount of money put away into savings/retirement/college to begin with. "Extra money" gets pretty well split between savings and spending.

 

[lindakmonty]

I am good at saving...but sometimes it's saving to spend Like saving for our next cruise dh has done very good at saving and investing... I can have my house paid off in 7 years, I'm 29...but I'm not sure if I want to do that or invest in more rental properties...or just what yet...I've got a 529 plan I started when ds was born. I put $100 a month in that..I could put more...but I max out my 401k... and other stuff like that... diversification is the key!

 

[Bob Slydell]

Savings (both in 401K and other investments) is factored in before we determine if we have any excess, so we're saving regardless. But any unexpected financial windfall generally gets saved as well (or put towards something like home improvements).

 

[BeckWhy]

SAVE! I wanna buy a gas guzzlin motha truckin SUV or big engined car like:

a Landrover or a SRT-8.. whoooooo... the 8 miles to the gallon is making me quiver all over. And I'm gonna rev then engine all the time so I only get 3 miles the to gallon! MUHAHAHAHHAHA

 

[puffkin]

I am a spender.

We both contribute quite a bit to our 401(k)'s at work but that comes right off the top. We also have a new construction home, so we have spent tons of money (and will spend tons more) on things for the house. And now that we have a baby...we have NO extra money. I feel ok about that though since the only debt we have is the mortgage, car loans and school loan (which is quite reasonable compared to some). We don't have credit card debt.

My philosophy in life is to be fiscally responsible but also live life to the fullest and do and get what we want and enjoy because life is way too short.