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I am a manic spender. I cover my basic bills ea month and then spend every bit left. Advice such as just don't do it, hide it from yourself, invest in accounts that have major early withdrawal policies don't work for me. I know -- I have tried an endless number of approaches, all to no avail.
My pattern is that with any savings account situation, I'll first stop contributing, and then I'll jump through hoops to get it out (no matter the expense). I don't know any cosigners (I have tried having others hold my money and it went horribly) who I would not end up ruining a relationship with.
Yes, I need some therapy but I also really want to find a way to legally lock down my money immediately and force myself into a contribution schedule that there is absolutely no way of getting out of.
Is there anything out there? A bonded money manager that can take financial power of attorney? I'm desperate - I make a decent salary and turn 40 next year. Though I can't believe it, I am facing the reality that I have to proceed as a single woman who has to ne able to rely on myself indefinitely.
Again, there is no trick that will trick me. I need an impenetrable lock on my funds with no loopholes. Im thinking a commitment of 5 years with an annual review with a financial advisor who can tweak as necessary is a good starting point.
Any advice at all, no matter how drastic, is appreciated. Thank you.
Put cards in a container of water and stick in the freezer. If you get the itch to buy something, you have to let the cards thaw before you can have your cc or atm card. The thawing time may give you time to think if the purchase is really necessary. After the purchase/withdrawal, re-freeze the card.
^^^^ Lol! Two minutes in a hot water and the cards are out. So much for drastic measures...
I think you need to go through a therapy first, otherwise you will find a way to get to your own money no matter what.
^^^^ Lol! Two minutes in a hot water and the cards are out. So much for drastic measures...
I think you need to go through a therapy first, otherwise you will find a way to get to your own money no matter what.
Irrevocable trust with future payouts to yourself starting at retirement age? I don't know about the legality of this but if you truly need to handcuff yourself in the most extreme degree possible I'd think that would be the way...
Momola, you need to start hating your drug. Look at what you are buying and develop a revulsion to it. And start doing more free stuff. Don't join a gym to exercise, just do it yourself. Don't buy new clothes, launder, press and fix what you already have. Learn to delay gratification.
You seem to want a strategy that saves you from yourself but that won't work. It's like a drug addict asking a friend to keep them from using. It deflects your own responsibility.
Buy some real estate. The money is locked in and does something good for you.
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