Tightwaddin'

Interesting thread and, with teenage kids, I massively sympathise with @Sumo 's view. I consider myself incredibly lucky to have got on the housing ladder in an era when it was remotely possible in London for ordinary people. That said, divorce seven years ago and effectively having to buy a second house, nearly killed me as I amassed an enormous amount of debt. Having paid it off, I have been able to reassess my own priorities and enjoy a more frugal lifestyle than before.

For me, it has been important to create the opportunity to work for myself and pick and choose my hours, with all the flexibility and benefits that brings, without worrying about money and cash flow. I don't always achieve it, and there are tough months, but smaller house, knackered old car and just not buying the stuff I used to makes it work. And when I want to go on holiday or need to spend more, I work more. The important thing for me is that it's my choice.

My pension is pretty good, but I don't pay in regularly like I used to. I just put money away each month and at the end of the year I pay my tax and put the rest into my pension, keeping a little back as savings.

The improved quality of life, for me, that all of this has brought totally outweighs the pleasure I used to get from the things I spent money on. A near head-on collision on my motorbike helped me realise this.

I do appreciate, though, that I'm privileged in being able to make these choices.