would you? I had squirreled a bit away for a new bike over the last couple of years – couple of thousand or so. I have other savings but my natural instinct is now to see this as 4 mortgage payments and wave the Stoater bye bye.

And that (combined with thousands of other people thinking the same thing) is how recessions start. Can’t say I blame you at all, TBH. My thoughts about a new frame have been shelved for a bit.

If you mean now as in post-Brexit causing you to re-think then personally I’d still blow the money on a bike. Ofc course having 3+ months of mortgage payments in savings is general sound advice but it’s just down to how likely you think you’ll need it vs pleasure gained from a new bike.

I’ll continue to spend on consumables if I need them, but I’m not buying a new “good” bike for a while.

If you are just talking about the current political and market uncertainty about the future, then personally I would spend the money you have already saved on the bike, you have to live life and can’t base every decision on negative possibilities.

Unless you have solid evidence that it is affecting you, ie lost contracts, then I may be a bit more cautions.

And that (combined with thousands of other people thinking the same thing) is how recessions start.

Well I already know people who have been made redundant as a result of Brexit (specifically the £ devaluation), so I’d say squirrel away as much as you can!

Buy it, it will still put a smile on your face even with no job or house 🙂

Confused! Are we talking about non essentials or a new bike?

I’ve been suggesting people be cautious for a year now. I certainky am. This is based on general economic outlook and potential for major debt crises in Europe. I see financial services most closely but that sector as well as oil and gas is going throigh a major shrinking / rationalisation. Brexit is just another factor which I personally believe will be a huge positive in medium term but raises uncertainty in the short term.

Having a bit of a safety net is always good and at the moment I would suggest highly desirable.

Bike prices are only going to go up, your mortgage might even go down. Your 2K isn’t getting you any interest in the bank so you might as well enjoy it.

YOLO and all that.

On the basis of your post we should all go out and buy a mountain of canned food and gold coins, Jamba. If the debt crisis is as bad as you claim the last place to put your money is in a bank. Being a little more optimistic than yourself I leave my money festering in various banks and buy things when I want/need them. Junior gets his Bac results today and his Arbitur results shortly, I can feel a spending spree coming on.

Teapot is a wise man, despite his use of the phrase YOLO.

similarly, i was looking for a new van. i may not bother now, or may halve the budget and dial back my wants.
my job relies on easy import and export from the eu to a large extent, with probably 85% of our Customers in mainland europe. if it’s going to become as difficult for us as a business, and our customers, as getting stuff in to or out of switzerland or norway, they may as well ship back and to the US.

I took teapots approach over the wkend and bought the full suss I couldn’t justify. If Im made redundant I’m going to have fun.

I’d base it on your direct likelihood of employment risk etc, but based on proper evidence, not rumour. But life is for living too, and Teapot has a good point. Mmmm, Shands…

My job relies on the economy being in reasonable health to generate work so I’m holding back on big purchases for a while until the future has a clearer outlook.

Was contemplating a new bike to replace my 5 year old 5 but I’ll most likely just treat it to a few shiny upgrades instead and keep the rest of the cash as a back-up if anything goes tits-up.

Spend it anyway – It’s going to take far more than 4 months to sort out this mess!

As I’m getting fewer Euros for my £££s, a larger portion of my salary is needed in the home country. Currently we’re up to first floor but want to be weather tight before the winter. Winter in our part of the world can be quite severe, so this is important.
More is spent on getting home too so get to see the family with less frequency too. 🙁
No real spare for non-essentials.

I just bought a new Tarp,I don’t really need to sleep outdoors,but I figure if I become destitute it will have been a sound bit of investment.

@ Fasthaggis 😀

I have to admit I’m twitchy, but there’s nothing much I can do about it now. We’ve got savings and we’ve kept our income just below a single income, but really our medium and long term economic health is in the hands of maybe 2 dozen people in Westminster and their collective Egos.

I mean Jesus Tap-dancing Christ, how many millions of people globally have their future resting on who the Tories decide is going to lead us all, and how they want to handle Brexit? Our PM has abandoned us, our opposition party has descended into anarchy, the very man who was supposed to be in charge of convincing us all it was a good idea has run away from it and the shouty little twunt who moaned about it was decades until he forced the issue has walked away from it.

If you wrote it as a script and tried to sell it to Hollywood they’d say “sorry, it’s too unbelievable, we’re going to make a film about a talking teddy bear that smokes weed instead”.

I’m driving myself loopy at the moment, as regards treating myself to some Wazoo upgrades like the £40 “chewy” Knuckleball bars and other bits. Normally, I don’t do much in the way of upgrades to purchased bikes (or much of anything really, I’m not that materialistic), but I seem to constantly fighting the urge to spend almost as much on bits as I paid for the bike originally!

Yet bizarrely, I’ve cycle commuted much less this year so far than than I have for a while, even after my December 2013 RTA I was back on a bike regularly by April 2014. The mostly shocking weather since April has not helped, but it is far too easy to use the bus with free wi-fi (which helps the journey go much quicker) now that is only costs £5 for a weekly ticket.

I think the recent rent increase we had and starting a Help To Buy ISA has made me even more money conscious, compared to many I have very little disposable income due to only being able to work part time hours these days.

I have to be honest and state that I’m not enjoying the attention I get when I’m out on the fatbike, I’m very introverted in the real world and I’m worrying more about what might happen while the bike it locked up than with any other bike I’ve ever owned!

Which begs the question, why was I such a muppet ~2 months back and not buy the Fat Not fat wheelset for £120?!! The single, 1-star review did not help, but also all those crazy fluctuating sales made me think that maybe they may reduce even further and I hate paying more for something than I need to.

… I can very much relate to the “want vs need” dilemma!

Teapot approach for me too.

Life is to short, always doom & gloom around the corner.

Just crack on and enjoy it 🙂

My job relies on the economy being in reasonable health to generate work so I’m holding back on big purchases for a while until the future has a clearer outlook.

If anyone considers a new bike a ‘big purchase’ that they might not make, then you’ve defiantly not enough saved.

In reality in the modern world somehow you need to be able to have a years income saved and/or be able to survive a year on benefits (or have suitable credit facilities) – anything less WILL cause you a problem if you lose your job etc.

Not saying we have at the mo, having just spent a serious amount of cash converting an outbuilding into a granny annex for my folks – but it’s where we need to get back to.

martinhutch – Member

And that (combined with thousands of other people thinking the same thing) is how recessions start.

Yah, but people spending now and not saving is how recessions never end.

Hob Nob –
Teapot approach for me too

But LITS ADGATC rather than YOLO 🙂

This thread is very dodgy with the “CHECK OUT” button so close to my mouse pointer

Yah, but people spending now and not saving is how recessions never end.

If everyone had a decent buffer, to fall back on, it would smooth out the boom and bust cycle. Although I appreciate that many live so hand to mouth that a buffer is nigh impossible to achieve, hence we need a higher minimum wage…..

Now is the time to buy a new bike. If you wait until next year , the prices will have gone up sharply because of the weakness of the pound.

So its buy now, or put on hold for a good few years

@ OP – if you e saved the cash specifically and don’t have an urgent need to spend it (eg car repairs), then spend it on the thing you’ve saved for.

Keep your other savings to one side and add to them by the same amount you’ve been saving weekly/monthly towards the bike. That way you get the bike and continue the right behaviour to protect yourself in case of a downturn.

Edukator obviously totally your call, you have the benefit of far above average job security amd generous welfare safety net but 25% youth unemployment, regular loi-travail riots, an election year with potential for a referendum promise contest between FN and UMP with PS eliminated and the Greek debt crises temporarily forgotten but far from resolved ? Its not hard to make a bearish case.

My spending has only ever been influenced by whether I have the money or not. Never took any notice of the wider political or economic conditions.

That said having had a narrow escape when nacre redundant and not actually having any money I’m certainly looking at squirrelling a bit away now.

^^^ wise @danny. How long could you live on savings / benefits before major issues ?

if you’ve saved it specificaly for a new bike then thats where it should go (all other things being equal obvs.). if you dont you would regret it, esp if you end up spending it on nothing in particular (ie: not on the mortgage/vital things etc.)

i dont think there will be a better time to buy a bike for a couple of years now, while the mess is sorted out. If you can find what you want and can afford it with the cash you have, fill yer boots 🙂

I seem to have spent a fortune since the referendum!

New S-Works frame that I’d saved up for, new wheels for the Kite and last but not least, just about to splash out on getting a new garage built on the house.

I can’t see the point in sitting with the money in the bank waiting for the world to fall down around us. If the money’s there and you want something then just buy it.

The only downside now is that I need to work a bit of overtime to replenish the savings a bit 🙁

I’m having a mini spending freeze at the moment. I’m between jobs and not getting paid at the moment and although it was entirely planned and budgeted for, I’m aware that even once I start the new job at the end of the month I’ve got a couple of years where I’ll be the easiest/cheapest person to get rid of if anything hits the fan.

In theory it shouldn’t as Brexit may actually lead to an increase in demand for what I do, and I do have a buffer, but I’m just keeping an eye on things for now.

Further to my post above, good to see my employer making bold moves…

https://www.theguardian.com/business/2016/jul/04/standard-life-shuts-property-fund-post-brexit-withdrawals

I have to be honest and state that I’m not enjoying the attention I get when I’m out on the fatbike,

Me neither. A wise man told me to just ride faster – it does help!