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

in Debt-free wannabe
31 replies 6.3K views


  • horsewithnonamehorsewithnoname Forumite
    122 Posts
    100 Posts Name Dropper
    I added up how much a week I spent on coffee, that I didn't even particularly enjoy. 
    Then realised how I could pay off my albeit at 0% credit card debt rather than keep transferring it [back in the days of 0% offers with no fee]
  • williewonderwilliewonder Forumite
    273 Posts
    100 Posts Second Anniversary Name Dropper
    Mine was when my debit card decline for a £1.20 Watherspoons coffee. That was embarrassing.

    I was never good with money. I used to drink alot of alcohol. Social services budgeted my money as I have mental health difficulties so they slipt my personal allowance and they would give me - £50 a on Monday and £50 on a Thursday. I used to spend all that £50 in one day on alcohol leaving me with nothing until I got my next £50. I started shoplifting beer and food from the COOP. It got pretty bad.

  • EssexHebrideanEssexHebridean Forumite
    17.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    For us, it was when a friend mentioned the impact he was making - and the longer term amount of interest he would save - by overpaying their mortgage. he gave us his spreadsheet, and we started playing with figures. Then we found this place, and started looking at all aspects of our finances. Started out with routine overdrafts, the mortgage and a car loan, got the car loan cleared inside a handful of months, started budgeting and cleared the overdrafts, reclaimed PPI for mis-selling on the loan (genuine case - I was told that we could only have the loan if we took Northern Rock's own PPI) then started hammering away at the mortgage which we cleared in 2016.

    Since then we have saved and paid for a new bathroom and kitchen (both were gutted back to the bare brick and completely refitted), new windows and doors to replace the previous ancient and failing ones, and are now in the process of refurbing our hallway - again all saved for and paid upfront.  We have savings in the bank, and a long-term plan. 
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  • jagujagu Forumite
    30 Posts
    Part of the Furniture 10 Posts Combo Breaker
    I used to think it wasn't worth saving because interest rates were so low. I have now realised that the whole point is that you put money away from where you can easily get at it. As you save, it still builds up, even if you earn little interest.
  • tenuissenttenuissent Forumite
    340 Posts
    Part of the Furniture 100 Posts Combo Breaker Car Insurance Carver!
    When I was about six, my father encouraged me to open a Post Office account and explained that it would earn "interest"... Free money??? This made a great impression on me, and I have saved carefully ever since.
  • JustdontwasteitJustdontwasteit Forumite
    12 Posts
    10 Posts Second Anniversary
    I used to ‘budget’ my pocket money then money from my Saturday job on clothes, music, make up, going out etc. But when I was 16 my mum went into hospital for what turned out to be several months, and my dad who worked long hours gave me ‘housekeeping’ for me and my younger sister. That taught me the cost of food etc and meant I was well prepared for managing as a student.
  • taintain Forumite
    703 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Getting diagnosed as having ADHD last year. 

    Until that point I'd spent 35+ years of my life thinking I was just a bad person/immature for splurging money on stuff I didn't need. Had no clue my impulsivity was due to my neurological wiring, and trying to control that by traditional means was a complete fools errand. 

    Also makes for terrible mental health when you keep blaming yourself for failing.

    I can now easily spot impulsivity, understand what it is I'm trying to achieve with the purchase, and judge it subjectively with a level head. It doesn't completely stop me wasting money, but does mean my choices are generally better. 
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