Still not sure I got my thrifty mind on...

Mrs_Potato_Head_2

Its been a while since I realised my attitude towards money needed to change. I have made a few positive changes such as paying off debts and bills straight away but I am now finding it difficult to stop myself wanting to spend.

What I really want to know is from those who naturally tend to save money. If you are like this, I would love to know somethings about the way you think about money:

1. Do you have an emotional attachment to money? If so, what sort of thoughts do you have about getting money? Eg, does money = security to you so therefore its important to save it?

2. How do you feel about spending it?

3. Overall, why is keeping money more important to you than spending it?

Quite frankly, I'd love to develop the same attitudes as those who pay their money proper respect, hopefully this starts with adopting the same view of money. Any other thoughts/advice would be greatly appreciated.

UnionGirl

Congratulations in almost clearing your debt.

I would suggest setting up an ISA and a direct debit to pay into the ISA what you have been paying on your debts - simples.

As to spending/saving, I have an ISA set up myself that I pay into monthly, overpay on my mortgage.

When it comes to purchases I ask myself if I need or want it. If I need I then ask if I can afford it. If not, I will save until I can afford it. Sometimes by the time you have saved it you find out that you didn't actually need the item.:)

love_lifer

For me, money generally is a tool, a means to an end. But when im feeling low thats when i lose perspective and spend/buy stuff i dont really need. So i guess the key is to stop and look at why you want to spend and is it filling a hole that actually needs somethign else in it- like some exercise/talking/deep problem to be sorted.
bit deep for a wednesday lunchtime but thats my view for what its worth

ceh209

1. Do you have an emotional attachment to money? If so, what sort of thoughts do you have about getting money? Eg, does money = security to you so therefore its important to save it?

2. How do you feel about spending it?

3. Overall, why is keeping money more important to you than spending it?

Quite frankly, I'd love to develop the same attitudes as those who pay their money proper respect, hopefully this starts with adopting the same view of money. Any other thoughts/advice would be greatly appreciated.

1. Yes I do. I love checking my savings balances (probably as much as some people on here love seeing their debts go down each month) as it feels like I've achieved something.

2. Guilty. Like the enjoyment I'm going to get out of whatever I'm buying just won't be worth the cost! e.g. I could quite happily go to the pub and have a glass of wine, or a glass of water, and enjoy myself just as much... Yes I want the wine at the time, but by the time I go home sober I really dont' care!

I'm getting my first bonus from work soon, prob about £600. Other people are talking about going on holiday with it, blowing it on some big night out, and I'm *possibly* considering spending £50 on myself and saving the rest. It's just a different attitude, and I'm not saying mine's completely right, but i think finding a balance is definitely needed.

3. I want to buy a house, and I don't want to work till I'm 65. Simples! :rotfl:

Hope I don't offend anyone here

GeorgieFTB

1. Mmmm... not really, well I don't think so. Money = choices, if I have 6 months salary in the bank and my boss at work is unreasonable then I can walk out (not that I ever have)... if I want the latest gadget (after admitting to myself I don't really need it but it look pretty) then I can buy it with my money...

2. I hate being ripped off, love spending money but if I find out it can be had for cheaper that really annoys me for days!!!

3. Security - the world could end and I would have enough money to bribe with (I'm really not very practical!)

Mrs PH you need to figure out what you want, past the "I want rid of the debt collectors"/ "I want total control over where my money goes"...

A little cottage in the middle of no where/a nice apartment in the middle of town/to go travelling and see the world/to retire as early as possible... whatever your dream is you need to start working towards it... figure that one out and your attitude will change

Gx

Mrs_Potato_Head_2

Thank you all so much for your answers. Its interesting to see different attitudes towards money. :beer:

dell33

I used to love spending it and never gave too much thought about it.

This recession has scared me a lot, seen our disposable income drop a lot, I now hate spending money, and it is not that I am tight but I just want to clear our debts and be able to survive on one income should the need arise. Also we are heading down the uni road with our kids and that is going to take a large chunk of our income for many years as we have 4 kids.

Tink_04

I'm trying to find the same mind set as you and after reading the posts on here I realise that my dreams seem so far away sometimes I think there too far to achieve! Maybe its because of my debt I don't know but you have all given me something to think about!

happycamel_2

When I was a kid we were properly poor, unstable and unsettled. I beat the odds, got good A levels, took a degree then worked full time and studied at the same time. I'm now a qualified accountant.

I've worked really hard to have a good standard of living. I don't want to waste it on interest.

The key to it is understanding that for every month you over spend you have to have a month where you underspend by the same amount plus interest. If you mostly slightly underspend and save up for treats you get more stuff than if you waste money on interest.

So basically I'm greedy anddont want to give my money to lenders.