When do the money worries stop?

Name:_Lee

Hey there,

I was hoping someone could shed some light on the below, and perhaps offer some advice about how to change... if it isn’t normal.

For the last 3 years I’ve been obsessing about money.

Before this I was a student. At the point of my 1st proper job in 2007 had £15k worth of student debt; a -£10k career development loan (to do my masters course) and -£5k in an overdraft.

At the point of getting my first job I started to obsess about clearing my career development loan. I figured this was normal and looked forward to the day I would be free from it (December 2009) … that day came and rather than feel free I started to think about the overdraft, I told myself it was just another 6 months and when that was clear I would be completely debt free and able to relax… I went on to clear the overdraft last summer and it felt great to be debt free. However… I couldn’t relax. Again I started to fret, this time about saving money; not having an emergency fund, not having anything to fall back on if I lost my job etc. I thought, Jan 2011 will be my month, I’ll have a bit of money saved and it will feel great.

Well, here we are today, I have saved £5k, and it does feel good… however, the pressure wont let up.

I’m still counting the days down to payday; I think about how much money I will have next month, 3 months from now, 6 months from now etc. I’m worrying about saving enough to fulfil my dream of travelling around the world for months on end, I want to be able to by my fiance a proper engagement ring, and to be able to have a nice wedding without getting into debt…!

Now at this point you are probably thinking… ‘Get a life, be happy, and you will feel better’, so it should be said that I do treat myself very well. I wear nice clothes, I eat well and spend a good amount of time with my fiance, my friends and my family, in the UK and abroad (on some pretty nice holidays).

So when will all this let up? How do I stop obsessing about money/ counting the days to payday? And is it normal to worry the way I do even when you are debt free and in a good place financially?

Sighs*

Any advice would be most appreciated

LandyAndy

Stop thinking of it as obssessing and start thinking of it as being organised.

mrsb83_2

If you're really obsessing, you could have anxiety. It might not be anything to do with the ££ as such.

If it's adversely affecting you, you could consider seeing your doctor.

Verbatim

I think some of us are just like that! If it's not getting in the way of you having a good life don't worry about being worried....

moz86

Im quite alot like that too. I would agree that could be called organised. Plus, I have a general interest in personal finance, and hence Im always lurking and reading these forums!

I check my internet banking at least once a day, and I know where all my money is going for the next 3 months. I've even drawn up a plan to save £10k in the 2011-2012 financial year. It doesnt affect my life, and doesnt affect my enjoyment of good things, it just so happens, if Im not thinking about anything else, I think about money.

Im not displeased with that, and don't think it affects me adversely!

Well done on clearing your debts and accumulating your savings!

Moz.

Name:_Lee

Great to hear I'm not the only person that does this. Clearly I need to start thinking about it as a positive thing rather than negative, being organised not obsessed.

'It just so happens, if I’m not thinking about anything else, I think about money', rings very true with me.

Anyway...Thanks all! Onwards and upwards.

dreamdreamer

It's a very positive thing, it sounds like you're more worried about this being "weird" than actually worried about the "obsession" affecting your life/relationships. You seem to have a good life, this is partially BECAUSE of your good financial sense not in spite of it. If only more of us had your attitude!

MilneBay

I like the idea of calling it 'organised' instead! I know where you are coming from though. I sometimes wish I could be a bit more relaxed and not think about every penny but I think the other road is more dangerous.

For example, I have three savings accounts. One for 'proper savings' money to be kept purely as savings and not to be spent unless facing dire emergeny. I have another saving for when I need my next car and one for expenses I know will be coming up like a new carpet, decorating material etc. My problem is that when it comes for paying for the carpet, I always think 'well I could take it out of my current account and just get by' and then I can keep the money in my savings account and enjoy looking at the figures. Ridiculous as this is specifically why I had it sitting in a seperate account!


I think if money saving does it for you then embrace it (as long as it isn't stopping you enjoying life). I have been basking in the warm glow of going to Aldi and getting my weekly shop this morning (before work - no on else in the shop - why didn't I figure this out earlier!) for the two of us for £19.73 - including cleaning products and new work socks for OH.

Yep, it turns you into a saddo but you only have to read the DFW boards to realise most people get there as a result of a sudden change of circumstances and not ridiculous extravagance to realise why saving when times are good is not such a bad thing. MB

snowqueen555

I am also obsessing. My debts were less than yours but I cleared them off last august and then it dawned on me that I now have £0, which was

I am on a very humble salary, but I am putting away some £ every month but it still doesn't feel like enough.

I don't think its a positive thing for me because it creates anxiety.

Soph86_2

It sounds like a good thing to me - If only I had your mindset when I first graduated.....I wouldn't be in the debt I am now! I do exactly what you do now, complete with millions of spreadsheet and forecasts, I just wish I'd done it years ago!

Soph x

jolester

Soph86 wrote: »

It sounds like a good thing to me - If only I had your mindset when I first graduated.....I wouldn't be in the debt I am now! I do exactly what you do now, complete with millions of spreadsheet and forecasts, I just wish I'd done it years ago!

Soph x

I too am a spreadsheet queen - and I too could be classed as organised or obsessed with finances.

I have gone so in depth with my spend that I have the year catered for - and fortunately some pennies left at the end of it. I don't see having a budget as a negative, just that I know what is going out and when. Too many people see budgeting as depriving themselves or being penny pinching or being broke - I don't, considering I've catered for three holidays this year, nails, eyebrows and massages monthly I wouldnt call myself deprived - just very organised.

My OH who was dire with finances has now decided this is a far better way to live than flying by the seat of his pants!