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Old 04-08-2010, 02:23 PM
 
Location: Denver, CO
1,278 posts, read 1,825,758 times
Reputation: 912

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I have an addiction. I'm a save-aholic. I hate spending money, especially on big ticket items. Last year I bought a 40" Samsung HDTV and suffered from a panic attack that lasted nearly four months following the purchase.

I have a hard time spending money. I just want to save, save, save. Most of you are probably wondering what's so bad about that. Well, this attitude leaves me conflicted pretty frequently. There are some big ticket items I want to invest in at the moment, but I'm afraid to put up the cash for them.

For example, I want to build a new HTPC (home theater computer) from scratch. I estimate the cost to be anywhere between $600-$800. Do I need it? Not necessarily. I try to justify it as a hobby, something to keep me busy and entertained for awhile. Having money for this project is not a problem. Having the will to spend the money IS the problem.

So I'm curious...How do you other frugal folks go about making these types of decisions? Do you just not do it or do you rationalize it somehow? I'm quite interested in your opinions on this subject.

Thanks!
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Old 04-08-2010, 02:43 PM
 
Location: Scottsdale, AZ
4,486 posts, read 14,918,052 times
Reputation: 3919
You really have to ask yourself...why are you saving all your money?

Saving money is inherently a good thing, but being afraid to spend money once in a while isn't healthy. What exactly are you saving everything for? You sure as hell can't take it with you!

I would suggest putting some money in an account established for "play". I have an account set up that I put X amount out of my paycheck in for my general enjoyment. If I want a new toy, I generally use money in this account for it. If I don't have the money at the time, I don't buy it. I don't dip in my true savings account for something I can live without....most of the time.

I bought a Corvette earlier this year which I did dip in my savings to buy but I consider that necessary .
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Old 04-08-2010, 02:54 PM
 
Location: San Antonio, TX, USA
5,142 posts, read 11,157,324 times
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Mcb1025: Do you own a home or plan to in the future? How will you handle a large purchase such as a home or vehicle if a panic attack occurs with a smaller purchase such as a TV?
I also suffered panic attacks in my early 20s but with a more generalize nature to them, just panicked about life in general and change. I remember I had one when I bought a computer for school but somehow I got through it and reasoned with myself that I cannot make myself sick every time I need to buy something major. Maybe finding a counselor is in order; I went to one and it helped tremendously because the way the counselor worded it is that it is the effect of wanting to stay in control. Good luck to you!
I hope you find a spending/saving balance that works for you! Enjoy your life and save for a rainy day!
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Old 04-08-2010, 03:05 PM
 
Location: Denver, CO
1,278 posts, read 1,825,758 times
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Quote:
Originally Posted by skeet09 View Post
Mcb1025: Do you own a home or plan to in the future? How will you handle a large purchase such as a home or vehicle if a panic attack occurs with a smaller purchase such as a TV?
I also suffered panic attacks in my early 20s but with a more generalize nature to them, just panicked about life in general and change. I remember I had one when I bought a computer for school but somehow I got through it and reasoned with myself that I cannot make myself sick every time I need to buy something major. Maybe finding a counselor is in order; I went to one and it helped tremendously because the way the counselor worded it is that it is the effect of wanting to stay in control. Good luck to you!
I hope you find a spending/saving balance that works for you! Enjoy your life and save for a rainy day!
Sorry, that comment was actually used more for humor than actually being the case. I was exaggerating a bit when I said I had a panic attack after buying the TV. It was moreso a feeling of guilt.

When it comes time for buying a home, I'm sure I will struggle with it at first, but ultimately I will overcome the hurdle.
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Old 04-09-2010, 11:59 AM
 
Location: 3rd Rock fts
745 posts, read 940,768 times
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To Spend or Not To Spend?
Quote:
Originally Posted by mcb1025
I have an addiction. I'm a save-aholic. I hate spending money, especially on big ticket items. Last year I bought a 40" Samsung HDTV and suffered from a panic attack that lasted nearly four months following the purchase.
It sounds like you’re heading for the dark side.[joking]

Quote:
I have a hard time spending money. I just want to save, save, save. Most of you are probably wondering what's so bad about that. Well, this attitude leaves me conflicted pretty frequently. There are some big ticket items I want to invest in at the moment, but I'm afraid to put up the cash for them.

So I'm curious...How do you other frugal folks go about making these types of decisions? Do you just not do it or do you rationalize it somehow? I'm quite interested in your opinions on this subject
Seriously, just keep doing what you’re doing. Unfortunately because of ‘manufactured demand’ you need to analyze your spending, so don’t sweat it too much. Try to get satisfaction from little purchases as well. When we save $2.00 or more on a purchase we talk about it for weeks.
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Old 04-09-2010, 07:20 PM
 
11,423 posts, read 19,433,663 times
Reputation: 18119
Quote:
Originally Posted by mcb1025 View Post
I have an addiction. I'm a save-aholic. I hate spending money, especially on big ticket items. Last year I bought a 40" Samsung HDTV and suffered from a panic attack that lasted nearly four months following the purchase.

I have a hard time spending money. I just want to save, save, save. Most of you are probably wondering what's so bad about that. Well, this attitude leaves me conflicted pretty frequently. There are some big ticket items I want to invest in at the moment, but I'm afraid to put up the cash for them.

For example, I want to build a new HTPC (home theater computer) from scratch. I estimate the cost to be anywhere between $600-$800. Do I need it? Not necessarily. I try to justify it as a hobby, something to keep me busy and entertained for awhile. Having money for this project is not a problem. Having the will to spend the money IS the problem.

So I'm curious...How do you other frugal folks go about making these types of decisions? Do you just not do it or do you rationalize it somehow? I'm quite interested in your opinions on this subject.

Thanks!
I know exactly what you're talking about. We just did a six month stint of buying a new sofa.... which turned into buying two recliners instead... which turned into actually picking the chairs and fabric and then we really needed to think about spending $2400 on chairs (which may sound like a lot but we are really hard on furniture and I just can't go through this every two years to replace cheap furniture) which led to a some other thinking.... and ended up with me buying great slipcovers for 100 bucks.

When all is said and done, I don't want to be in this little tiny house forever and I don't want to plunk down good money on scaled down furniture that won't work in my next home.

I'd far rather save it.... and when we buy our next home we'll buy the good quality stuff that works there.

Have to say, I was telling a non frugal friend about my trials and tribulations of sofa shopping (I absolutely HATED everything I saw until I found American Leather... nice stuff that comes in microfiber! Good for cats) and she thought it was a RIOT. When she wants a new sofa, she goes out and buys a new sofa.

After talking to her, I started thinking I had mental problems. But then I thought about my buying fabric for my quilting. I go to my local quilt shop, and I don't look at prices. I look at the fabrics and I mix and match them, I step back and visualize..... And when the purchase is cut and rung up I don't care how much it costs.

That's when I figured I'm okay. Yeah -- I might balk about paying 3K for a sofa, but I can spend 150 bucks on new fabric with out flinching. My priorities are intact....
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Old 04-09-2010, 09:26 PM
 
10,696 posts, read 20,114,276 times
Reputation: 9849
Why do you save money? For me it was because when I got out of college I hardly made any money. At some point you have to let go. How much money is enough? Just a little bit more. But you will always be saying that.

Let loose and it sounds like you save a considerable amount of income. Enjoy the spoils of your work. You need a hobby or you will get zero fulfillment out of life. He who dies with the most toys wins.

Be smart, don't overspend, but have some fun and don't feel guilt. I did too, then it passed as I enjoyed using the items I was purchasing.
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Old 04-09-2010, 10:23 PM
 
Location: Montgomery Village, MD
516 posts, read 1,194,224 times
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I think one thing that helps me is to make sure I get the BEST deal possible.. then I'll even look at the regular price and feel much better knowing I saved normally like 50 percent!
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Old 08-05-2010, 02:19 PM
 
11 posts, read 29,761 times
Reputation: 18
Great point by SpeedyAZ. Saving money is great, but the point of saving is to ultimately spend it on something. It sounds like you are very responsible with your money, and that this home theater computer is not very expensive, so, if it will keep you occupied for awhile, go for it!
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Old 08-05-2010, 04:40 PM
 
9,317 posts, read 11,242,312 times
Reputation: 5959
Its like Hoarding .

Hoarders fear parting with something.

You fear parting with money.

You clean a Hoarders house and they stress because you want them to give/donate/sell their over abundant items.

After they get rid of those items by force they soon aquire more and the junking begins again.

If you are sincere about your disdain for spending money then I would suggest you are a Hoarder .
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