How do you motivate yourself to manage your money?

glewis

Hi

(not sure where to post this question, but here it is)

I am struggling to motivate myself to manage the family finances.


I do & review monthly where I spend (using YNAB) but still have list of thing that I would call outstanding from a moneyMakeover.

Thing like set up equity saving for #1 son as #2 son has one due to the £250 child voucher from government. So was thinking of use personal ISA equity allownace for this.

Pensions - need to review and track my work money purchase scheme. I have started with trustnet.com but then moved some funds around and need to update my trustnet account but the this is confused with the protected and non-protected parts of the pension that my pension provider has to format the information that I look at.

Also I want to review what I consider what wants/needs are in the budget but my wife just get board and says we already looked at it last year, or compared to so and so we are very sensible.

Cheers
moneymonitors

IronWolf

I just like seeing the overall value of my net wealth go up. Personally I dont really do it so I will have more when i retire, or so I can buy more things, even though these are benefits. I do it for the sake of the game of making money and accumulating wealth.

bendix

I do it because I'm no longer a child and decided that I should be responsible for my financial well-being.

Seriously - what other 'motivation' does it need than being an adult?

joyfull

I have over 10ys to go before receiving the state pension (66) & I no longer have the health & strength to earn a full time wage. I've always looked after my health and always saved money. Never earned above £12.000pa but I'm very glad I now have some savings to eke out my circumstance.

You never know if or when you may be unable to earn a living. That, for me, is motivation to manage my money. Also, it simply feels good.

glewis

bendix wrote: »

I do it because I'm no longer a child and decided that I should be responsible for my financial well-being.

Seriously - what other 'motivation' does it need than being an adult?

Did you get out of bed on the wrong side this morning?

Your comments are rather unhelpful and your implied insults are rude. I'd appreciate a civil response.

With all due respect
Giles:D

Quicklite

Who doesn't want to have it all?

http://www.youtube.com/watch?v=ONXpaBQnBvE

Starbrite

Being unemployed earlier this year with no savings and having to live of £128.60 every two weeks has motivated me to build up my savings... Last perm job I had was back in 06 so for last 5 years I've not had a perm job, Not through what of trying or no fault of my own might I add, yes I've had jobs but temp or contract roles, it's tough out there...

So in short I never ever want to be that skint again!

Also wanting to buy my own shoe box has motivated me, I just needed a friend to point out that it's do able and I don't need a fancy palace just somewhere with enough room for me and my strawberry plants and maybe a marine fish tank....

dtsazza

IronWolf wrote: »

I just like seeing the overall value of my net wealth go up. Personally I dont really do it so I will have more when i retire, or so I can buy more things, even though these are benefits. I do it for the sake of the game of making money and accumulating wealth.

The use of the word "game" is very insightful here, and it's a large part of what drives me too. With actual games (be they board games or computer games), I like to read up on rules and strategies, ensure I fully understand them, and then see that understanding play out as doing well in the game itself.

Managing money is very similar. Once you get the hang of the "rules", you start to see what you've done wrong in the past, and how straightforward it is to "win".

Getting everything set up right and knowing that positive cash flows will keep coming in is immensely satisfying, in the same way that, say, rearranging and tidying up a room is.

How do you motivate yourself to do spring cleaning? I suspect it's the sense of satisfaction at the end, and for me at least the same is true with financial affairs (with the added bonus that I can spend my satisfaction with the latter!).

markwilkinson

As a couple of others have said, for me, it's seeing my personal wealth increase.

Lokolo

glewis wrote: »

Did you get out of bed on the wrong side this morning?

Your comments are rather unhelpful and your implied insults are rude. I'd appreciate a civil response.

With all due respect
Giles:D

First time meeting Bendix eh? :rotfl:

rictus123

Bendix, in a good mood, is the best poster on the forum. In a bad mood, this applies unless its aimed at me