Top 10 Fun Ways to Spend Your Money


You’ve worked hard to acquire your wealth, so have you thought about how you could spend your money? In this article, we look at some fun and interesting purchases to help you enjoy the finer things in life…

“Whoever said money can’t buy happiness simply didn’t know

where to go shopping.”

Bo Derek

1. Classic cars to supercars

Have you ever wanted to own that car? Whether it’s an old classic or a supercar, buying a beautiful vehicle could be something you pass down to the next generation. One thing to note – you will need to consider where you will keep your car as luxury models such as Ferrari, Aston Martin, etc. may need air-conditioned, temperature-controlled garages to reduce the risk of deterioration to bodywork, etc.

2. Designer labels and haute couture

Whether it’s the archetypal ‘little black dress’ or a pair of Jimmy Choos, why not consider treating yourself to a designer item for your wardrobe? This could be a reliable ‘go-to’ for special occasions or simply because you just have to have it! We all need to spoil ourselves once in a while…

3. Jewellery and watches

With so many luxury brands out there, the world really is your oyster. Tiffanys are still a firm favourite for many people, especially when it comes to special items such as engagement rings. Again, a beautiful piece of jewellery can be handed down to your children, becoming a lovely sentimental family item. There’s also an entire market for expensive watches, such as Cartier, Hublot, Rolex, etc., many of which will increase in value over time, so make sure you arrange adequate insurance cover for this type of purchase.

4. Luxury travel and cruises

Always wanted to travel more? These days, you don’t need to wait until retirement to take a luxury cruise. Many companies offer shorter cruises around the Mediterranean, offering gorgeous views and stop-offs at various Greek islands. If you have the money, you could consider chartering your own yacht to take your partner or family on a tailor-made cruise. If you’re not keen on cruises, you could use a boutique travel agent to design a bespoke itinerary for you that includes World Heritage Sites across Europe, the USA or Asia. Choose your activities and level of accommodation, and they should be able to arrange all your flights and transfers, so all you have to do is sit back and relax.

5. Second homes and holiday property

Are you drawn to a particular place? Perhaps you find yourself revisiting the same holiday destination year-after-year? Have you considered buying a holiday property in this location? We always advise fully researching any foreign property and the country’s laws before you commit to any purchase. However, if you have found a gem to invest in, you may even create a second income from letting the property out to holidaymakers while you’re not there. A holiday or second home doesn’t need to be outside of the UK; you may have decided on a beautiful location closer to home for your retirement. It might be worth investing in a property simply to give you much-needed weekends away from a busy work schedule. Always seek professional financial advice before using your savings to make a large purchase in case there are any tax liabilities.

6. Speedboats to superyachts

If you have a holiday property near the ocean or a lake, owning your own boat can be a wonderful way to unwind. This could be a classic speedboat or a sailing boat to take the family on fun outings. Some activity centres offer ‘powerboating’ courses which will enable you to gain a licence to man your own luxury powerboat. Sailing is a fun activity, which could result in you taking up a new hobby too. Perhaps you have always wanted to own a yacht? Bear in mind this could cost anywhere upwards of £100,000 and you will need to consider insurance and mooring fees. If you have ever been to Monaco, you may have watched the superyachts winding their way into the harbour – one of the most expensive superyachts ever built is the History Supreme, costing $4.5 billion!

7. Art and antiques

You don’t have to be an expert when it comes to buying art and antiques – always buy items you genuinely like without considering whether they will increase in value (they may not). A beautiful painting or sculpture can be a great addition to your home and something to pass onto family members in the future. Antique furniture is another lovely way to finish off a room and could be an individual item to match your existing home furnishings.

8. Interior design and furnishings

Why not consider professional interior design when it comes to your home? There are many luxurious wallpapers, finishings and furnishings available these days, but most of us are simply too busy – or not trained – to be able to match fabrics, patterns and colours despite our best efforts. A professional interior designer should be able to create spaces that reflect how specific rooms are to be used, whether it’s for dining, socialising or unwinding.

9. Home cinemas and entertainment

There is an increasing trend whereby people are redeveloping their homes to create unusual spaces, such as home cinema rooms. This doesn’t necessarily need to be a large space – some people install limited seating for family and friends. Plus, you could consider having a dual-use room by having a pull-down projector screen fitted to the ceiling. There are some excellent home entertainment systems available which will give your room a full surround sound experience, so you will feel as if you are in a real cinema.

10. Smart tech and home automation

Another increasingly popular trend is to connect your home to apps on mobile devices such as smartphones. You can control everything from heating, lighting, curtains and blinds to switching the oven on to warm up before you get home. This has an added security benefit because you can control your home remotely, giving the impression to outsiders that you are there when you may be away sunning yourself on holiday!

If you are interested in other ways to make the most of your savings, please get in touch to speak to one of our financial planners, who will be able to carry out a full strategic review.