to spend or not to spend-that is the question.a first world problem

Talking about savings, you are careful and try to save all your life and then you end up paying for elderly care! Doesn't seem fair somehow.

Another WASPI here. I get my SP this summer at 65y 11mths. I plan to buy experiences with it. City breaks with friends or husband, more local trips out in the car to visit places in the U.K. I’d like to see Bristol I’ve never been and revisit Salcombe in Devon.

Well mine is 87. But as both my parents died suddenly at 73 despite a very healthy lifestyle and three of my grandparents didn’t even get to that age, I’m not counting on it.

The 50-30-20 rule sounds good. I’m off to check how that tallies with our current spending.

To return to the OP!

I would say is that the best thing to do is to relax into your knew-gained wealth. (grin)

Next time you are in the supermarket and see a delectable you really fancy, do not turn your head and walk by, indulge yourself. next time you wash a well-worn pair of trousers and decide that they need to last another year, chuck em out, and buy a new pair - and better quality - they will last even longer. .

As others say, unless your wealth is immense, in which case this extra income is immaterial, put some of it by - for holidays, car repairs and to replace whit goods and the occasional private out patients appointment.

After that, just relax into your new income - you will be surprised how soon expenditure meets income!

I agree with Monica. Set up a standing order to transfer half to a savings account to save for the bigger things. Spend the other half on new clothes, treats and so on.