What was your 'money-piphany'? What one moment changed your attitude to money? 7 July 2022 at 4:29PM in Debt-free wannabe 31 replies 6.3K views

MSE_Laura_F

When I was a lot younger I saved up for a few years and went travelling abroad with my boyfriend, planning on finding jobs along the way. Work was a lot harder to come by in one country and we could only find commission-only sales jobs, which neither of us were any good at. Our savings dwindled and I remember trying to eke out a small bag of pasta over several weeks.

Before travelling I was quite flippant with my wages, but when I returned I was a lot more careful than before, and that stuck.

What was your 'money-piphany'? What changed your attitude to money?

maisie_cat

My dad died when he was 39 and until I reached that age I expected to die young ish and lived life a bit too much. I was never in debt but I didn't save as much as I should have, spent what I earned and didn't make mortgage overpayments. 

kimwp

When I was 17, in another city with a friend, I happily bought two pairs of jeans, then realised that left about ten pounds in my bank account from around £100. So an immediate drop from an amount that felt bountiful, to an amount that wouldn't get me home. The experience of going back to the shop to return a pair and realising that I'd spent so much of my money in such a short time really made a mark and it's only recently (20 years later!) that I've been able to relax a bit about spending.

JGB1955

Our money-epiphany was receiving inheritances that take us way above the £1M mark and realising we have to do something about it.  Still struggling with spending... but getting there...  epiphanies can work both ways...   

tacpot12

Someone bought me a copy of "Rich Dad, Poor Dad". 

Graham1982

I came on here several years ago with debts of about £7k. I was nearly refused credit to buy a replacement washing machine. I knew there was an issue, but it wasn't until someone on the thread said "you are effectively in debt crisis" that I realized I really needed to do something.

Thanks

Graham

foxgloves

For me, it was endless moaning about why, despite two professional salaries coming in each month & no children to support, we couldn't afford to buy a campervan. This was what triggered me to add up how much we were spending on debt repayment each month & it didn't make for pretty reading. 
F

P.S We never did buy that campervan, but we did become debt-free, mortgage-free & have embraced budgeting in a way I'd never have thought possible.

enthusiasticsaver

Taking on our first mortgage probably was when we had to really start being careful as up until then we had two good salaries, a subsidised rented flat in the first year of our marriage, no kids and we spent freely.  No debt but did not really save either except for pensions. 

After taking on our first mortgage and then losing my salary when we had two children close together meant money was incredibly tight.  I budgeted very very carefully though and we never bought on credit thankfully.  It got easier as time went on but we never returned to our free and easy spending days prior to buying our first house. Even now when we can afford to spend without regard we don't. 

DjangoUnchained

the old cliche about buying expensive cars that you cant afford to impress people you dont like. my expensive car got knackered so i bought a really cheap old banger £340, to tide me over. but that old banger lasted me over two years without any great expense and made me realise how much money i was saving. running old cars ever since. this year ive pushed the boat out and bought a 4 year old car, as a treat as ive done well. but paid cash for it.

in_need_of_direction

For me it was realising that I was working a job I didn’t like to buy stuff I didn’t really want and to pay the interest on my credit cards.

lr1277

Reading Rich Dad Poor Dad and also Rules of Wealth.

I read the 2nd book in the Rich Dad series about cashflow quadrants which I didn't find helpful, but I may have missed the message. The 3rd book in the series about investing, I found useful.