Money To Live

September 29, 2008

Reader Question: Thinking about money

Filed under: savings — by moneytolive @ 5:00 am

Reader Question: If you met someone who only feels stressed & burdened by thinking about money, what would you say to rope her in?

Try thinking about money differently.

I have a friend who, though she does not care about money,  is very good with her money. Her financial goal is to not worry about money. If she has enough to pay the bills and save a little, then she is happy.

Not to “go Oprah” on you, but think about why money is stressful or burdensome and figure out a way to mitigate the cause.

If there is a fear of not having enough, find a part time job. From previous conversations, I know that the reader who submitted the question can easily pick up hourly work starting at $35/hour. That adds up very quickly!

I used to get stressed out that I was not saving enough for retirement. Looking at growth projections, I am in good shape. But as a fraction of total retirement savings, I am only at the 3% mark. 3% out of 100% is not very much.

When I started thinking about my dream lifestyle, I realized that I could support myself for 3-4 years without working (or longer if I were to move to a cheaper town in the South or Midwest).
Realizing what I had already accomplished gave me some perspective, and now I think much less about my net worth.



  1. Forty-five years ago (!) I heard my mother admonishing my grandmother for keeping $1000 in her checking account. Well, I understand where Grandmother was coming from. She was reducing her stress about money. About 20 years ago, I started keeping about 2 months’ emergency funding in my household checking account and I find it very comforting. Smart-money strategy? Nope. The experts would tell me to put that money where it can earn more interest. But maybe I have a gene that drives me to keep extra money visible in the check register. I think everyone should feel free to break a smart-money rule if it makes them less stressed and burdened. (It can take years to figure out what strategy works best for you. I don’t have an answer for that.)

    Comment by Mary Bold — September 30, 2008 @ 1:17 am |Reply

  2. Thank you for this interesting post.
    Makes me want to start tutoring.
    Also makes me think of this article that a friend sent me–
    have you seen it? what do you think?

    Comment by katherine — October 1, 2008 @ 2:00 pm |Reply

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