DIANE KNOX: Saving and money management is good, but the treats in life are important too
Register for free to read more of the latest local news. It's easy and will only take a moment.
I’M house-obsessed, I admit it. If you’ve followed my column over the past few months you’ll know this too.
If you haven’t, then we’re currently building a house in Jacksonville, Florida and over the past week we’ve had some major developments – windows, patio doors, electricity, gas and air conditioning.
I almost find myself apologising for talking about the house AGAIN, but throughout a gloomy January and February, it’s really the only thing we’ve been doing.
I spend my free time scouring the internet looking for decor inspiration and home bargains, pining over these glossy “house to home” Instagram accounts and purchasing ridiculous things that seem to be high up on my list of importance for no reason whatsoever – this week it’s been cool gold coffee teaspoons, a marble pot for salt and sticky rug pads. Essentials.
I also created an Instagram account to document and share our housebuilding journey, and if you care to follow along it’s @thebalashome. I’m already loving the fact it seems to be 99 per cent Scottish females who want to talk about kitchen pendant lights and backsplashes!
Kirstie Allsop, of Location Location Location fame, has been in the news this week for saying that “everyone” could afford to buy their own home if they quit the “easyJet, coffee, gym and Netflix lifestyle”. A bold statement that, of course, has sparked a flurry of differing opinions.
The “coffee, gym, Netflix lifestyle” spoke to me – that IS me! And each is a real source of happiness in day-to-day life.
The TV presenter said young people in particular could afford to buy their own place if they cut out the subscriptions, such as TV streaming services and gym memberships, and moved in with their parents for a few years to save money for their deposit. From my experience I don’t know who that’s harder on – the kids or the parents!
Yes, it’s all about sacrifice and prioritising where your money goes. I wish I’d been better at this as a teen-to-twenty-something. I always had jobs through school and university (shout out to Girvans!) but as quickly as that money came in it was gone again, frittered away on nights out, new clothes and make-up, holidays with my friends, and the cost of living.
It’s always easy to look back and roadmap your spending in hindsight, but we can’t punish ourselves over the odd £5 iced latte. In this post/mid-pandemic era, the small things have been lifesavers.
That gym membership could be the thing that gets you out of the house and creates a healthy mindset, blows away the anxiety and leaves you feeling brand new.
I still do it now, even more so with this house! Yes, we scrimped, saved and sacrificed a lot of trips and nights out over the past 18 months to be able to build this home but I still feel like we could’ve saved even more.
I’ve created some good habits when it comes to financial management now though, and absolutely every purchase has to be justified. The reasons may be fickle from time to time, but no more frivolous spending.
So Kirstie has a point – cut down on the small luxuries and it all adds up to a nice chunk of cash towards your downpayment. But if the wee luxuries are a source of happiness in what can be a bleak world at times right now, you’ll find a way to justify them.
