Why do I find it SO hard to spend Money??

New_and_Improved_Me

I’m serious!!!!

I have a good job and am able to easily afford to buy ‘Most’ things within reason.

But yet, I find it SO hard to part with my cash.

I’ll give you an example –
I’ve seen a watch, that I really like and want – Yes WANT not need, because I have a perfectly good one that works.

Nothing too extravagant, it’s about 60 pounds, easily within my means to buy and would not affect my finances one bit.

Yet, I am reluctant to just buy it.

Is it because I had nothing as a child??

Do I have unresolved issues J??

determined_new_ms

I have found once I got into the DFW mindset I have found it difficult to spend money. We were so focused on saving every penny to clear our debts then save and now I find it hard to spend big amounts of cash even though I now have a good income and enough disposable income. I just always think everything is so over priced! I think thinking in a dfw way is great but it also comes with a price and I have friends who have less money but are freer with money than me....

SailorSam

I think 'cos we were so poor when i was growing up i automatically learnt to value money, and it gets ingrained in you not to waste it. So you look at things and think ...... I already have a Tv; watch or whatever, and it's working. And it's hard to get out of that mindset.

good_advice

I walked around a big town with my adult DD this week and did not spend a penny. I do not need anything. I make do with what I have.

I have always been carful with money.
People who have had dept. have to learn to live more simply.

It is a way of life. To be carful. I am always trying to make the house bills lower. I make it my job to go round and turn off lights and unplug.
I find it sad that only half the duel fuel bill goes on the fuel we use. The other half goes on transport, green issues and profit.

Mojisola

New_and_Improved_Me wrote: »

Is it because I had nothing as a child??

Do I have unresolved issues J??

If you find it hard to buy things that you want but don't need, I don't see a problem.

If you find you can't buy something when it is needed, that's more an issue.

Try to balance up the spend/don't spend in your life - are you accumulating a lot of savings? What are the savings for? If you found something you fancied buying, like the watch, would it be easier to buy it if you saved up separately for it - £x a week?

(Rhetorical questions - don't need to answer them here.)

Asiacat

I used to be a compulsive spender in my twenties on status symbols.

In my mid twenties I worked in software development and put in a lot of long hours to meet ridiculously short deadlines.

I had a rolex watch as well as a new BMW which then got traded in for a new Mercedes all prior to my 30th birthday. Looking back I was an idiot the cars are long gone and I don't really have any anything to show for those golden years in terms of earning money.

Had I invested in property rather than buy cars I could have bought a couple of flats which were about the same price of the cars and would now be worth around 200k.

Once the big projects were finished my hours shrank as well as my salary.

II emigrated inmy early thirties and have no intention of moving back to the UK.

In my forties I now live in Thailand and buy spend the least money I require to fully meet my requirements which means I have a 500 pound second hand scooter for transportation, am wearing a two pound digital watch and have a twelve pound basic cell phone.

Now I wouldn't even spend ten pounds on a watch, have no intention of ever owning a car again (I rent one when I absolutely need one).

One thing I have learned in my life is that "stuff" doesn't make you happy and that experiences and achievement are want releases the endorphins.

oldhand

Dont knock it,when you see so many posts on here from people who have no trouble whatsoever spending money,especially money they dont have it sounds more like a virtue you have.

sstteeww

New_and_Improved_Me wrote: »

I’m serious!!!!

I have a good job and am able to easily afford to buy ‘Most’ things within reason.

But yet, I find it SO hard to part with my cash.

I’ll give you an example –
I’ve seen a watch, that I really like and want – Yes WANT not need, because I have a perfectly good one that works.

Nothing too extravagant, it’s about 60 pounds, easily within my means to buy and would not affect my finances one bit.

Yet, I am reluctant to just buy it.

Is it because I had nothing as a child??

Do I have unresolved issues J??

I think that is something to be admired, not giving in to rampant consumerism that consumes so many sheeple! As well as MSE :money:, you may find Mr. Money Mustache's blog (http://www.mrmoneymustache.com) to your liking

Frogletina

The easiest thing I find is to set a budget which you are comfortable with.

I split my personal spending between puchases, entertainment, health and holidays, and I rarely go above the budgets that I set but I don't have any worries about spending within the budget.

My personal spending was once set at 30p a week! That bought me a magazine and not much more. One year I only bought 3 items of clothes, two of them items of underwear.

I've saved aggressively over the years and my budgets have increased as time has gone by. I must be the only person who stays in on New Year's Eve specifically to work out my accounts for the previous year and set budgets for the coming year. I'm on track to have an excess of income over expenditure - but only just. I don't have an income that allows for savings these days.

But I can now afford to visit London for weekends and have bought an Oyster card to reduce the cost of travelling there. I take my own sandwiches with me for the first day, mainly because I like my own, but I can afford to eat out if I decide I want to.

My passions are the cinema and the ballet which are factored into my budget.

I also have an ad hoc travelling budget of £10 a month which I used this week when the weather was awful to get a taxi to visit my daughter. This avoided getting two buses and a walk at the other end which I have done for years and years.

As for a watch - I lost one over 10 years ago and have not replaced it. Maybe it's time I should. I check the time on my mobile, but I cannot see it without putting my glasses on. Time to make life a little easier I think...

Cauliflower

That's so good! well done you! In my early twenties, I was in debt (not by a huge amount - around £2000) & never thought much about budgets & ALWAYS spent above my means. If I wanted it I bought it without much thought to where the money was coming. Fast forward 7 years & now I am so careful. I hate spending money haha. I have a 6mth DD that helps me be careful with my spending as Id rather save everything so she can have toys & clothes

Goldiegirl

I feel people get into a certain mindset, which makes them unwilling to spend money.

It may be due to their childhood, getting used to not spending money due to clearing debts, or by saving hard for a large purchase.

The non spending habit becomes so ingrained, that, when the time comes for spending some of that hard earned money, they are physically unable to do so.

I think we've all come across people who, when confronted with spending money, their first reaction is 'I can't afford it', even when you know for a fact that they have many £1000's in the bank.

As with everything in life, there is a balance. Too little spending can be as bad as too much. Whilst good things in life don't have to cost much, people can miss out on experiences if they are too frightened to spend