skyscanner is the reason i haven’t bought a house yet

financial advice from a thousand-aire

I told Calvin I wanted to spend January in Dubai. I think he misheard me.

I’m currently writing this as I wait for my flight back home from Dublin Airport. Yes, as in Dublin, Ireland. I don’t know how I went from the idea of spending the New Year with the Emiratis to being given a history lesson on why leprechauns are an old wives’ tale. I don’t see an hour's flight over the Irish Sea as a holiday, but it was still nice to get a change of scenery and use the time to reflect on all the things I have to be grateful for. Friends, family, love, and provision.

But these days, any attempt at escape isn’t cheap. Everyone was running to Lake Como over the summer because it was less than the price of a train ticket to Manchester. Even though you can find a decent plane ticket to a European city destination for under £40, there’s still a lot to consider. For example, accommodation. I’m too much of a bougie babe to be staying in a hostel. Call it classist I don’t care, I’m not sharing a room with strangers like an American college freshman student. And I’m even forgetting about travel to and from the hotel, city tax, shopping, activities, souvenirs, etc. As I said, escape isn’t cheap.

Last year I was fortunate enough to have gone to 6 countries. Sweden, Finland, Denmark, Norway, The Netherlands, and France. But it’s fair to say that these trips burned a hole in my pocket. So much so that I doubt if I will be doing any travelling this year. There’s no money left in the coffers. Sounding like the UK government.

But also, I find it harder to justify spending on holidays and other exuberant purchases when every other TikTok video is about how I will retire as a broke and penniless pauper if I don’t start investing now. My age mates or those a little bit older who have decided to leave the game (get married/be in a relationship) glance at us with a side-eye. They can’t seem to justify why we are willing to blow budgets on vacations abroad when they are suffering under the premise of saving for houses and marital commitments.

Well to that I say bah humbug!

As I always say, I don’t have a turtleneck yet so I can’t give official financial advice but here are some of my unsolicited opinions when it comes to spending money on these excursions in comparison to saving for the future.

When in your twenties, you find two warring groups giving their opinions on this matter. Those who feel like you should enjoy life and spend while you can because you’ll make it back. And those who feel like you should save your coins for a rainy day, prepare financially for your future, build generational wealth, all of that stuff. I’m not sure where I stand in all of this. But if there’s one thing I’m sure of, both sides have lost the plot.

The idea is that if you deprive yourself of everything nice in your 20s, you will be able to enjoy life in your thirties. This anti-Netflix and Starbucks propaganda in order to afford a mortgage is the mission statement of these crusaders. But the one thing I’m finding now is that those who have forgone activities such as holidays, eating out, shopping and other material pursuits, definitely think they’re better than their spending counterparts.

danny @shckldg

Kirstie Allsopp says you can save £1600pa by cutting out netflix, gym, holidays, etc. The average house price is £255k, so a 10% deposit would be £25k. That would require 15 years and 9 months of saving that £1600 to have that deposit. Stop interviewing her.

They’ll be sitting in their house eating day 3 of that week’s meal prep whilst watching Instagram scornfully, hating as they see their agemates in Bali and Bodrum. But also, those destination deviants will put down any Instagram post/announcement of a house purchase or investment. “I could have done that”, “they probably had help”, “I could do that too but I’m not trying to have a boring life”.

Comparison doesn’t just steal your joy but gifts jealousy.

We all have different views, different paths, and different experiences. Would I right now spend £1000 on a holiday? No. Does that make me better than anyone who does? No. But I respect how everyone lives their life. If you spend your twenties creating memories, I hope you pop all the bottles, go to all the countries, and live life to its fullest. If you spend your twenties saving and investing, I hope your moves are successful, you accomplish your goals and find joy in your toil.

Be proud of and content with your decisions. Even if it’s not the most popular one, it took a lot of confidence to come to that place.

This may not be the financial advice you were hoping for but more of a nudge to ask you to change your mindset when it comes to how you spend your money. Instead of facing your front, face your pockets.

As I Grow Older, I’ve learnt that being financially sound isn’t just about reaching my financial goals but being comfortable with the ways in which I spend my money.

Imagine having a few events over the summer but only having a few rolls of film left for your camera. You still want to capture the moments and use the device for its intended purpose, but you have to be smart about it, otherwise, you won’t be able to capture the memories at later periods of time. That’s how I would describe my current spending habits. Living for now but not tarnishing my future.

That’s all from me. Sorry (not sorry) if this wasn’t helpful. I’m sure you’ll live.

Love. Peace, & Blessings,

Abs.