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Full Version: Hoarding Money Versus Saving Money
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Ok I'm lost and obviously looking for input - construction criticism too! My husband and I both have decent jobs and I think we're doing okay financially. I have a secure clerical job in government and my husband has a good and reasonably secure IT job. Our credit is great, our cars are both paid for and we have no credit card debt at all. Our only debt is our mortgage and we're paying $400 a month extra to go toward paying the principal. We put a bunch of work into our older home and had it reappraised before the market turn a bad turn and even got rid of our private mortgage insurance. My problem is this - I think my husband is obsessed with money and with building wealth to the point that it's sick. He's not wrong for saving, but I'm frustrated because he's sitting on a 35,000 pile of money at 0.8% interest and refuses to invest in any stocks or mutual funds, which I've been telling him to do for a long time. He won't let me buy even basic clothes for my daughters (his stepdaughters) and it's making me crazy. I already buy my clothes at the thrift store as much as I can, and we have no regular activities as a family (that aren't free) and I feel like this is not saving money, this is more like hoarding money. Every penny I spend is carefully scrutinized, so much that I feel guilty about even buying shampoo. It's just awful. I am so frustrated that at the one end, he squeezes my wallet so tightly (sending a kid to school with pants with holes??) on one end, but on his end he won't learn how to invest and try to earn extra money that way. He's importing foreign goods and selling them on Ebay and he's got me working so much on his Ebay business (which is not making money after crunching all the numbers) that I hardly have time for my kids. They are miserable. compared with other families, I think we are doing just fine and he is being overly paranoid and/or greedy. I think we are plenty well off and he needs to back off but I need some perspective on this. I used to be a big spender and I have really clamped down on that but I'm trying to figure out how much is too much. Any input, positive or negative, would be appreciated!
Hi! I was thinking of taking Finance 301 at Governors State University this fall. An advisor in the Business department there helped me know which class is an intro class. Thanks and hope to keep in touch! =)
Sorry it took me this long to get back...just found your post. It does look like hoarding. 35k is not much of a nest egg, though. You should have at least enough in savings to last 6 months with no income. Investing comes for amounts over that. Still, a good money market account is insured and pays about 2-3%. Also, if he spread money over ETF's for the DOW, S&P and NASDAQ, he could average 7.5%-10% income with little risk.
Hi.. I was lookign into a topic of haording money. I am on a disability but doign ok. Not as well as you of course. I feel pretty healthy except for being very overweight. I've have run into a lot of older people who seem to haord. If nto moeny then "stuff". I don't think "anyone" knows how much money we will need for our future. I ave credit card debt that I am usign to survive.
I ahve never elarned hwo to save as I was always just surviving. I was wondering.. save for what ??? I realized I lvied ina lot of fear of dying due to trauma from the past.
It sounds to me that your husband has some control issues..and maybe you do also ??? I think ti is very hard in a relationship to sit down and ask about what we need or want in a relationship.
I asked an elderly man who is defintiely in his last years.. waht advice he ahd for em. He told me not to take life so seriously. He worried abouy money constantly in his younger eyars.. worked a lot and didn't enjoy his life and good ehalth. Unfortuantely that affected his realtionships and now he is mroe worried if he will die alone !! A wonderful perspecative.
I have a simple life but I lvoe my friends and famiyl. I pray all the time to find a job I enjoy and most of all people who enjoy me !! I need an emplyoer who says " Youa re jsut the person I am lookign for !! " Maybe I will ahve to be self employed.. I am not sure ?? It seems like mroe responsiblity than I care to have though !!
I aslo thought about givign money away.. do you do that ? A charity or cause you believe in. Also maybe a church or other kind of faith may help you. I've been through extrordinary trauma and health situations and I have survived !! I didn't do ti alone !!
God bless you and your family !!
there is a new web site about the family budget. This website is Turkish. But you can chance this with google translate. In this website, you can calculate your family budget, also you can give budget realizitation with graphic support.
You certainly need to get our of this and look for ways to invest your valuable money and then make money by this.Read some investment strategies as well.
Being greedy is pretty much different from being frugal. When you are frugal, you are looking for all possible ways to save money. Being greedy means that you are never satisfied with what you have and your need always come first.
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