I am always worrying about money

LegacyUser

I'm a public servant (please don't judge me on this) and I'm a very average salary. I never really worried about money until recently, even though my pay has not dropped very much and I have a very secure job.
But now I am constantly anxious. I am worried about credit cards, even though what I owe (approx €2100) is nothing compared to what others owe. I also have a small car loan and a great tracker mortgage. I can pay my bills very month and have been making an effort to pay off the cards (I've paid off €1,000 of them in the past two months, so now I owe the €2100). I know its irrational but I have constant thoughts about my financial situation, even though I've become much more sensible and stick to a strict budget. I am very worried I have few savings, but at least my pension is taken care of.
Should I be so worried about stuff like this at 28? My friends seem to live paycheque to paycheque and not worry like I do. I don't want to be a miser and I am not in any trouble, but I want to be less anxious.

petethebrick

Well your options are:
1) Save more of your current earnings if you can
2) Think about extra employment or a change of career if your that bothered about earning more.

You shouldn't be too worried about it to be honest. You're doing well by the sounds of it with your own house at 28!
I worry about money as well. But thats because Im 29, still a student, no house of my own and I spend the majority of what I do earn on beer and holidays (mostly beer though )

Cheap Thrills!

You know you are much luckier than the majority of people in Ireland today.

You can pay your bills, you've got a car and a mortgage you can afford....? So you owe €2k on a credit card. A lot of people would give their eye teeth to be in your position.

You say you have 'few savings' -most people have nothing whatsoever and a sh1t load of debt on top with no pension.

So, it obvioulsy can't be the money situation, are you anxious about other things too?

Are you anxious in general ? Maybe you should talk to your GP...?

Kimia

In fairness it's very irritating to have someone tell you 'oh aren't you lucky to have a job' or 'oh loads of people would kill to be in your position'. This isn't about other people and that is a pile of boll*x to be honest - there's no need to make her feel bad about her anxiety.

OP save save save. Try and put away as much as you can and then think 'what's the worst that could happen?' - answer is you'll have money put away so you'll be grand.

LegacyUser

I do not know where this anxiety has come from! I know I am lucky, but this does not stop me worrying. I know how secure I am, as I have a permenant pensionable job for the foreseable future but I am still worrying about paying off my mortgage, getting rid of the credit cards and saving more.
Maybe I do need to talk to GP about anxiety.

goose2005

worry worry wrote: »

I'm a public servant (please don't judge me on this)

It's deeply depressing that people would. Yesterday's agitprop became today's commonsense view of the man in the street.

Cheap Thrills! wrote: »

You know you are much luckier than the majority of people in Ireland today.

You can pay your bills, you've got a car and a mortgage you can afford....? So you owe €2k on a credit card. A lot of people would give their eye teeth to be in your position.

You say you have 'few savings' -most people have nothing whatsoever and a sh1t load of debt on top with no pension.

Well you should consider yourself lucky, there are blind Haitian orphans with Aids in the world... does that make you feel better about your own situation?

Alessandra

Join the club.
You are in a far luckier position than most. Everyone is feeling the pinch.
I'm a post-grad student and have far more accumulated debt than you have and will be ready to face the music in June.. If I don't get a job I am screwed. Just think about the income you have.
Where can you make cuts to your spending? Your debt is not too much to handle. Be more realistic.

JonathanAnon

worry worry wrote: »

But now I am constantly anxious. I am worried about credit cards, even though what I owe (approx €2100)

The guy on the Mooney show usually suggests to people to try to get rid of the credit card loan first by either a) simply paying it first or b) borrowing from credit union or bank (at relatively lower interest rate), as the credit card will have a high interest rate.

tenchi-fan

Hi
I'm 28 too and in a private sector job.
I'm sort of the same.. I'm worrying about money even though I have enough to live a more fun life!
I think it's just the climate when pay cuts can be imposed, stealth taxes are creeping up, the pension will be well hacked away by retirement age and everyone is talking about money!
The weird thing is I'll go out at the weekend and spend €100 easily, then scrimp and save for silly things like a newspaper or cup of coffee. Oh, and people call me stingy. I play up to it for laughs though.

Anyway, my advice. Set a target amount you want to save and don't touch your credit card until you've saved it. You should aim to have 3 months salary in your savings just for a rainy day. I should practice what I preach but it's a very good idea.

dublingal80

im the same. im constantly worrying about money. my job is save, my salary isnt great but im able to pay my rent 500, and put 600-700 into savings and the rest goes on food, bills, travel etc.
i have a good bit saved, but im saving for a deposit so i wont let myself touch it but still, i cant help but worry

santana75

This isnt entirely about money OP. I know that probably seems like a strange thing to say in the face of your anxieties but what I think is going on is that you dont have any belief in your ability to look after yourself. If you were truly confident in yourself you wouldnt be so worried because you'd know that no matter what went down in life, you'd cope. So at its root your problem is a fear of being able to cope. You need a certain amount of money to feel secure and whats happening is that the more pay cuts you undergo the tighter the panic becomes.
I do think managing your money is definitely necessary, you have 2100 quid on the credit card and first priority is to get that out of the way. But prevention is better than cure and if you cant afford it right there and then, if you dont have the cash in your account, you dont buy it. Its a simple rule that has served me well in life. If you dont have the money you dont buy it, no matter how much you want it. Things like food, water, heat, shelter are neccessary. Things like mobile phones, cars, ipods, computers, fancy clothes, alcohol, holidays, aren't.
But I think you should sit down and try to figure out whats at the root of you worries, whats really going on behind the money fears? Did you grow up in a house were money was a constant worry? I know things are tight right now so maybe counselling would be a bit too expensive(although there are a fair few places that do cut price counselling). But this book is great for figuring out whats really behind fears and worries so maybe you could give it a go:

http://www.amazon.co.uk/Mind-Over-Mood-Change-Changing/dp/0898621283/ref=sr_1_fkmr0_1?ie=UTF8&qid=1267876359&sr=1-1-fkmr0

petethebrick

petethebrick wrote: »

You're doing well by the sounds of it with your own house at 28!

That's a mentality very specific to Ireland.. There's nothing impressive about signing a mortgage.


And back on topic, I'm the same OP.. I live paycheque to paycheque and am always worried about it.
Try Askaboutmoney.com Very good Irish website..