Ever Felt The Need To Protect Your Savings From Yourself?

Discussion in Shopping Discussion started by Denis Hard • Feb 5, 2016.

  1. Denis Hard

    Denis HardWell-Known Member

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    For those who have a hard time trying to save money because they simply have to buy anything they like as long as they have the money, there is a way you could save money. When you save some money, don't place it in your bank account place it in an account where you'll incur heavy penalties should you attempt to withdraw your money early. This should make you think twice before taking money out of that account.
     
  2. gracer

    gracerActive Member

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    Sometimes I also feel that way, that I need to protect my family savings from both me and my husband. Well, we don't withdraw often but we sometimes spend on things that we really shouldn't be spending with. That's why I'm thinking of enrolling our bank account in a trust fund so that our money would grow more to somehow make up for the money that we are spending. Sometimes we need assistance in disciplining ourselves to be more frugal. :)
     
  3. DreekLass

    DreekLassWell-Known Member

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    I recently stopped smoking, and I was really excited about that, because I was aware that I would be saving a lot of money. Money that I otherwise would have been spending on tobacco, and it is not cheap here. The price rises every six months or so. Soon from now it will be a full £5 for a pack of tobacco, so I am glad I got out of it now. But even with all of the money I have that would have been spent on that, I am spending more now, simply because the extra money is there. I find that money will always find a way out of your pocket.
     
  4. JosieP

    JosiePWell-Known Member

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    That's so true. When I quite smoking, a pack was over $10. Well, that $10 had to go towards something that would replace my habit LOL. When we save money on, say, groceries.. which we have in a huuuuge way by going whole foods, that money then needs to go to the vehicle issues or a cat that needs medical attention, or a birthday is coming or my mother in law is coming to town and I need to hire a hitman. It's always something, isn't it?
     
  5. DreekLass

    DreekLassWell-Known Member

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    And I find that the more money you make, you always seem to want more, because your tastes change and along with it so does the price range that you tend to operate in, so having more money always seems to be a goal. I actually cannot believe how expensive those cigarettes were :O Ridiculous. That is like £6 something over here. I dread to think how much they are over there now. It is ALWAYS something, and then you will look back and think, if I had not stopped spending money on that, I never would have had the money for this emergency. It all seems to work out, a lot of the time.
     
  6. JosieP

    JosiePWell-Known Member

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    Yep, much better way of looking at it. I did look at it like that a bit ago actually. Our car needed the back window replaced out of the blue and it was good to be able to handle it, but then while it was in, they obviously "tweaked" a little something so we'd be back for more work. Really disgusted with how dealerships/mechanics work.. but was relieved that we had the money for yet another surprise, all because we live so simply. Although, I think living simply should be without a car, but that's my husband's journey lol.

    You're right though.. it seems nobody ever has enough. Once more money is made, they find the things to soak that extra money up. Look at celebrities; perfect examples. But it happens to most people.. and most people aren't in their position financially, so it's not the smartest move to spend the money because it's there. I know a lot of people that own property for renting out and leaving to their kids. Have more than one vehicle. Go on trips. Always have the latest and greatest. But they don't actually have this much money and they don't actually own those homes. Because even though they make good money, it wasn't enough and it's the bank that actually owns them. And my friends lol. It doesn't happen to us all though. I would love to make more money for the simple fact that I just always want my kids to be ok. I want to feel at complete ease that my keepers won't ever threaten my well being because of hard times. So once upon a time I would have found more to spend on, to "better" our lives.. but now it would just be insurance. I'm quite addicted to how we live now :)
     
  7. DrRipley

    DrRipleyExpert

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    I have this problem sometimes but I am able to reign myself back in most of the time thankfully. I prefer to just police myself rather than having someone else do it as I prefer not being tied down by the regulations of others. Although I understand that for some this is the better option and it's why it's good that these options exist. I guess I would consider it for some budgets but for my luxury budget I prefer to just manage it myself, but I admit it really is difficult to control myself sometimes.
     
  8. Parker

    ParkerWell-Known Member

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    Yes. It used to be a bigger problem for me. Several years ago, I dipped into my 401K. I paid a hefty penalty (fee) so I learned to keep a contingency (emergency) fund. It's still hard sometimes not to tap into my contingency savings account.. I wait for 72 hours before making any withdrawals. This has helped me a lot. Now, I can honestly say that I use that fund for only true emergencies which are very rare.
     
  9. DreekLass

    DreekLassWell-Known Member

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    Don't get me started on mechanics. Guttering cleaners can be similar, where they offer to do something for you for a small price, and when they get up there, they say there is another problem that will need to be fixed, and because most home owners are never going to get on a ladder and look, they will just pay to get the phantom problem fixed. This is why they need to start teaching teenagers mechanics in school, as opposed to the white washed bullshit version of history that they are always pushing on everyone. I don't think I will ever own a car, so I am with you on that ;)

    I always say that when one goal is fulfilled, you have reached a new level, and that new level has its own set of challenges and issues, that will often propel you to the next level,and so on. So when finance are no longer a problem for you, as it is not for a lot of celebrities, you are forced to turn a magnifying glass on other aspects of your life, especially those who felt like money would make them happy, yet they're still unhappy. Many will spend more and more in a bid to find that fulfillment, and it never comes, and then bankruptcy comes. And those people were earning millions. I often feel like if I was to have a million pounds, I would never have to worry about money again, but no doubt it would get soaked up by stuff that I did not even need, just because the money was there.
     
  10. JosieP

    JosiePWell-Known Member

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    All you have to do to avoid that is win a million twice lol The first time, you'll spend it.. by the second time, you'll feel so stupid for being so careless and wish you had the chance again, so when you get it, the money will last lol. It happened to me dahling.. tis why I know if I ever make a lot of money, I won't be foolish. It would be coming to me at a smarter time in my life..

    You've inspired me to learn all the thingies in a car.. I'll be my OWN thingy fixer!! Thank you Dreekster ;)
     
  11. morgoodie

    morgoodieActive Member

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    When I seen the title of the post, I had to laugh but only because it is so true for me. I always feel like I can never save money because something always comes up that needs the money I have saved. Just a few months ago, my sister and I have decided that we are going to move out of state. Knowing this. we started saving money and putting it aside for the move but then I lost my job and I have had to use the money that I had saved on groceries and other monthly bills. It always seems like I try to get a head and then something out of the blue happens and sets me back even more than I was before.
     
  12. Pat

    PatWell-Known Member

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    I had to smile when I saw the title. Yes, I have to put my money someplace where I can not get it because I am always in need of something else to spend the money on.
     
  13. Corzhens

    CorzhensWell-Known Member

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    This is a funny thread but yes, I think I have done this before. It was the time when I was still single and my college chums would usually invite me for a night out. On those occasions, my savings would definitely suffer. Heeding the advice of my sister-in-law, what I did was to log the times that I went out with my friends and I had learned how to limit those night outs. I was successful though and I thank myself for the self-control.
     
  14. DreekLass

    DreekLassWell-Known Member

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    Trust me I would only need to win or find the one million pounds one time. I have seen so many people squander copious amounts of money, with not much to show for it. I will not be making the same mistake. My biggest challenge in life right now is my financial security. If that was not a worry anymore, I would be set, and I would not do anything silly to jeopardize that feeling of safety once I had it.

    Lol. I would learn too, if cars did not bore the living hell out of me.
     
  15. JosieP

    JosiePWell-Known Member

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    Excellent. Don't be a me. Get the t-shirt lol. And cars bore the ever lovin' snot out of me too, but since I have one and it currently costs us a TON to let mechanics "tweak" every time we go in, I think learning is especially important now. None of the men in my life want to, so who needs'em! lol. Plus, when I know what I'm doing.. I can blare the music and pretend I'm in a video as the hot girl on a rolley thingy under the car. All the boredom will be worth it in the end! :p
     
  16. GemmaRowlands

    GemmaRowlandsActive Member

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    Yes, I do this, and there are two reasons for doing so. Firstly, you are less likely to get the money out and spend it, and secondly because using accounts like these often means that you are given a better rate of interest from your bank because you are willing to leave your money in there for much longer, which is of course a great thing. Being able to save up honestly does mean that you are paying into your own future, and that should be a good enough reason to make the effort to do it.
     
  17. DreekLass

    DreekLassWell-Known Member

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    I think it would be a different story if I owned a car too, if only to cut down on the financial demands. But it always takes me a long time - if at all - to take in information about things that do not ignite interest or passion within me. Having said that, cars may bore me, but catching out crooked mechanics who are looking to charge me stupid prices with solid car knowledge would be a riveting experience, I am sure ;) Have you tried finding a different mechanic? LOL at that visual!!! I have never thought about you in that way before - and if you believe that, you are ridiculously naive ;) - but hot video girl on a rolley under a car, is totally your color :) Hahaha.
     
  18. JosieP

    JosiePWell-Known Member

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    Rollies are the new black! haha.. and ditto on the "can't learn what I'm not interested in" thought, but we won't get back into the reasons for homeschooling again lol. Totally.. keeping someone from thieving our money would give me incentive. And yes, we've gone to plenty of mechanics over the years.. all the same unless we know them personally and we don't mix friends with cars anymore lol.
     
  19. DreekLass

    DreekLassWell-Known Member

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    Rollies are the new hot, even though they have always kind of been hot in the context that you described above ;) I am wondering if I would have fared better with Math if I had not suffered that trauma at such an early age surrounding it. after that I just lost interest and did not want much to do with it, therefore picking it up became harder and harder. Not just keeping them from stealing my money would be incentive, but shaming them and having the satisfaction of letting them know that I know what they know about cars would too. Mechanics love to take women for fools when it comes to cars, which is why a lot of women will often take their husbands along with them. Even if the man doesn't know much about cars, it somewhat reduces the risk of the mechanic thinking it is a free for all.
     
  20. sidney

    sidneyWell-Known Member

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    I don't really feel that way often, because if I'm near a store or food store I go away from that place as far as I can so that I won't be able to spend my money. Actually, just seeing my money being fragmented into smaller bills when I buy something can deter me to not spend the larger bill denominations, unless I really need it.
     
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