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Like someone else mentioned...it's all relative. It's not really what you make that is the issue...it's how much you spend.
I don't think it's unhealthy to worry about money but it could be unhealthy to obsess about it. I've never been obsessed with money but I always have been VERY aware of every penny that comes in and every penny that goes out.
I use Quicken and I can tell you exactly how much I've spent in the past 20 years. Not only that but I can break it down on exactly what category it was. Not because I'm obsessed but because I like to be organized and know what is coming in and what is going out.
I work with a lot of wealthy people and one thing I've learned is that almost no one feels like they have too much money. Everyone always feels like they can always make more.
The truth is there will ALWAYS be someone that makes less and saves less and there will always be someone that makes more and spends more.
In my experience, when you have a major life change. For instance, changing jobs after being at the same company for a while, selling a house, moving to another city are all major life changes and it's perfectly normal to be stressed or think about money more when you go through a major life change. It's especially difficult when you go through several major life changes at the same time.
I remember many years ago I quit my job where I spent almost a decade, I sold my house, I moved to a new country all at the same time! It was the most stressful period in my life.
Money, it's a crime
Share it fairly, but don't take a slice of my pie
Money, so they say
Is the root of all evil today
But if you ask for a rise
It's no surprise that they're giving none away ...
We have two low six figure incomes, and we still consider money a lot... then again, we need to be self-reliant for retirement, we need to have some independence from our employers, we have a kid on the way, and a decent house here costs $1.2M.
It doesn't matter how much you make, what matters is how you spend what you make. I have a friend who makes three times what I make, and compared to him, I'm rich.
If one doesn't know how to handle money, they will never be successful in life no matter how much they make..
Money, it's a crime
Share it fairly, but don't take a slice of my pie
Money, so they say
Is the root of all evil today
But if you ask for a rise
It's no surprise that they're giving none away ...
Money is not the root of all evil. Lack of money is.
Anyone else have this issue where any financial advisor would say "you're fine, quit worrying, just keep doing what you're doing", yet you constantly think about all the bills, etc?
To obsess is OK for an hour or so... maybe twice a year.
Worry is OK as well; with a similar limit on time.
Concern otoh and especially care... these are constant.
But even here keep it it a low simmer.
Money is not the root of all evil. Lack of money is.
True statement. Am I the only one here who considers making money to be like a hobby? Why get stressed out over something that can actually be a lot of fun?
I do think about it a lot even though I probably don't have to. It's hard not to when I see older people like parents and aunts and uncles with no savings whatsoever, just getting by. I don't want to be like that when I'm older, so yes, I do worry about it now. I know I need to relax a bit, but it's not easy.
I am the same way. I think part of it for me is I actually like thinking about money. It drives me crazy that most people apparently don't find the topic that interesting, yet complain about being broke, etc.
I am the same way. I think part of it for me is I actually like thinking about money. It drives me crazy that most people apparently don't find the topic that interesting, yet complain about being broke, etc.
I'm the OP and I guess 'obsess' was a poor choice of words.
For example, I have spreadsheet I keep that has every investment/cash/credit account listed and about once a month I go online to every acct to update the numbers. I like to look at the growth of the investments and decline in the debits (car payment, student loan). I guess if feels reassuring to know that if hell came tomorrow, I could pay off the debts and have plenty left over.
However, in the last 5 months, with all the major life changes, I've been writing (and receiving) some big checks for signficant sums. New car (paid cash), new home designe changes (mid 5 figures), new mortgage down payment (6 figures), and a constant flow of bills ranging from 50-$500.
If you live well below your means, I don't see it being an issue. My parents grossed maybe $45k at their peak and raised a family of six. Of course, we were pretty much on our own after 18 (no college money saved, etc.).
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