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How are people not good with money?

antimatterx

I was watching the show on RTE "How to be good with money" and it struck me for the first time that some people are absolutely stupid with money.

How can people enjoy just throwing their money away? You spend a lot of time working hard to earn it, and you waste it.

I don't exactly make a lot of money (24, making 32K), but the first thing I do when I get paid is save as much as possible.

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Thelonious Monk

I was always kind of good with money but would have blow outs where I could spend a lot over a weekend on some mad bender or something and it could set me back ages. Now I've found a happy medium. I have a friend who reminds me of Silas Marner, it kills him to spend money even though he has so much now and I always tell him he'll be buried with it.

[Deleted User]

Thread will be divided between "I live on dust and snot and have eleventy squillion saved" and "I spend my months salary within 3.7 minutes of it hitting my account, because I want to enjoy life and never think about the future!"

Save what you comfortably can while still enjoying life. If you're in a position to put away a large chunk of income, it might be worth doing just that because you may not always have the opportunity. Sometimes its worth reigning back the spending to save for something big. If you can't afford to save, don't worry about it until you're in a position to. Things usually have a way of working out in the end, so don't worry too much about things you can't change. It's always worth looking into unconscious spending, like takeaway coffees, things like that can really add up.

Thelonious Monk

I just try and be grateful that I have a roof over my head and food on the table. This isn't a certainty for a lot of the world right now and Ireland was poor until relatively recently.

Wesser

OP. You are quite judgmental of others and i remember you laughing at people working in dunnes or behind deli counters before. You should mind your own business.

antimatterx

Wesser wrote: »

OP. You are quite judgmental of others and i remember you laughing at people working in dunnes or behind deli counters before. You should mind your own business.

I did never? Find me the post!

Wesser

Under some other username

Purple Mountain

antimatterx wrote: »

I was watching the show on RTE "How to be good with money" and it struck me for the first time that some people are absolutely stupid with money.

How can people enjoy just throwing their money away? You spend a lot of time working hard to earn it, and you waste it.

I don't exactly make a lot of money (24, making 32K), but the first thing I do when I get paid is save as much as possible.

Good for you.

Potential-Monke

I'm terrible with money. I've gotten better, but I'll spend before I'll save. Not that there's much to save, but like someone else said above, I like buying things. And it's not clothes, fancy food, jewellery, etc, it's games, figurines, random tech. I enjoy discovery, especially in tech and it's my motivation for staying alive, to see what tech we will have in 5/10/15/20+ years. I can't wait. VR is still relatively new, and I love it! If I could, I would splash out on a €3k PC and get the Steam Index (another €1k) to get the best immersive VR experience, but I also know that will become a lot more affordable in the coming years so that's my idea of saving, waiting until it's cheaper!

Fireball81

Sure if SF get in there will be no incentive to work hard and/or save, it will just be taken from you via tax and 'redistributed'

JustAThought

top tip - don’t tap and pay cash! If you budget and plan to only spend X amount every week and take it out on Monday you will be amazed how you readjust your behaviours when you physically see the money winding down in your wallet!

Jenneke87

I try to find a balance but it's hard, as shopping and junk food are my vices for when I feel down, I spend considerably less when I'm feeling good as opposed to right now, when I'm struggling with feelings of depression.

I always put money away every month. Once I've paid my rent and outstanding bills, I save the rest. I usually leave about 500-600 euro's in my account and with that I shop for groceries and whatever else I want. Past experiences have taught me that saving is vital for when you fall on hard times unexpectedly, it would have saved me so much trouble in the past, and I can't honestly remember what I spend the money on or why, it seems like such a waste now.

Potential-Monke

JustAThought wrote: »

top tip - don’t tap and pay cash! If you budget and plan to only spend X amount every week and take it out on Monday you will be amazed how you readjust your behaviours when you physically see the money winding down in your wallet!

I'm the opposite. If there's cash in my pocket it will be spent quicker than me using the card. The card helps me to spend less really, as I'm less likely to use it for something not required under €10 than having cash in the pocket and throwing some change at it.

Dr Bob

Jesus..different people have different strengths and weaknesess and abilities.

Suckit

antimatterx wrote: »

How can people enjoy just throwing their money away? You spend a lot of time working hard to earn it, and you waste it.

It depends on how you mean, 'throwing it away' - The cardboard gang are waiting..

https://www.bbc.com/news/world-europe-51420503

Graces7

Old saying.. "The best things in life are free" works for me. I enjoy many things that cost nothing and am doing so in old age.

Montage of Feck

Fireball81 wrote: »

Sure if SF get in there will be no incentive to work hard and/or save, it will just be taken from you via tax and 'redistributed'

We'll be the next Venezuela, get your money out while ye can lads.

CalamariFritti

Oranage2 wrote: »

Lunches and coffee, I know people who would be on the lower income side spending 10+euro a day on lunch as well as 2-3 coffees
at 3 euro each.

Of course their money and their life but if they brought lunch in and made their own coffee they could save around 90 odd euro a week.

And if they never got out of bed to begin with the could save even more. What good is money if you wont spend it? As they say - shrouds have no pockets.

Oranage2

CalamariFritti wrote: »

And if they never got out of bed to begin with the could save even more. What good is money if you wont spend it? As they say - shrouds have no pockets.

I'm not advocating that people be as frugal as possible. I was just highlighting there are easy places to save a bit of money. Bringing your own coffee to work is hardly stopping someone from 'living their life'.

Right now we have so many people living from pay check to pay check, I'd recommend that people just save a little so if something happened that they'd have a little rainy day money.

completedit

Oranage2 wrote: »

I'm not advocating that people be as frugal as possible. I was just highlighting there are easy places to save a bit of money. Bringing your own coffee to work is hardly stopping someone from 'living their life'.

Right now we have so many people living from pay check to pay check, I'd recommend that people just save a little so if something happened that they'd have a little rainy day money.

Kind of get you. Coffee like that has become for me about a daytime social thing or if I want to go somewhere with a laptop/book and listen to some tunes to get out of the gaff. Spending even 2 euro for a Mickey D’s coffee nowdays just would be something I’d be bothered doing. Essentially coffee on the go, I just don’t bother with it, unless I’m doing a road trip or something.

Winning_Stroke

CalamariFritti wrote: »

As they say - shrouds have no pockets.

My sister is great for coming out with guff like this. And "sure you can't take it with you". Met her in town at the weekend, she was just coming from picking up a new phone "because her contract is up". I asked why not just keep your old, functional phone and just switch to a sim only deal or whatever. That was roundly rejected. She's coming up on the age where she'll soon start wanting a property of her own. I fully expect a rant about how it's impossible to save money for a deposit...

[Deleted User]

I would consider myself good with money, save a decent amount every month, have good saving that I won’t need to completely use up for my house deposit and have some investments also.

I also buy my lunch everyday, eat out or get take away quite a lot, spend plenty of money on drink, have one of the latest iPhones, buy lots of tech stuff regularly etc etc. The whole living frugally doesn’t really appeal to me to be honest, I prefer enjoying life. I can live quite comfortably and save a reasonable amount without having to forgo things like a new phone or buying a nice fresh lunch everyday.

Zebra3

Montage of Feck wrote: »

We'll be the next Venezuela, get your money out while ye can lads.

Really? You reckon the CIA will set out to destroy us?

Oranage2

completedit wrote: »

Kind of get you. Coffee like that has become for me about a daytime social thing or if I want to go somewhere with a laptop/book and listen to some tunes to get out of the gaff. Spending even 2 euro for a Mickey D’s coffee nowdays just would be something I’d be bothered doing. Essentially coffee on the go, I just don’t bother with it, unless I’m doing a road trip or something.

It's important to enjoy life. What I was saying didn't really have anything to do with coffee even though I mentioned it in all my posts.

I think the thread is about people who just don't have a cent by the end of the week after spending it all. Of course some people's circumstances they've no choice etc but a lot of people Just don't live within your means. If you can afford the coffee, the lunches everyday, buy new clothes and can still save some money then that's great carry on.

But if you find you've no money by the end of the week/month, I suggest buying one less lunch or don't buy the new shoes or extra scratch card.

Winning_Stroke

Kaylie Future Jazz wrote: »

I can live quite comfortably and save a reasonable amount without having to forgo things like a new phone or buying a nice fresh lunch everyday.

Re lunch, I used to be like you but it really is a waste and an easy way to save a lot of cash.

My sandwich today (chicken, peri-peri, tomato and spinach, YUM) took all of a few minutes to put together and is imo nicer than any of the stuff on offer in the canteen.

I don't do exact figures but I reckon I spend a bit less than a tenner per week on lunches compared with a fiver plus per day years ago.

[Deleted User]

Winning_Stroke wrote: »

Re lunch, I used to be like you but it really is a waste and an easy way to save a lot of cash.

My sandwich today (chicken, peri-peri, tomato and spinach, YUM) took all of a few minutes to put together and is imo nicer than any of the stuff on offer in the canteen.

I don't do exact figures but I reckon I spend a bit less than a tenner per week on lunches compared with a fiver plus per day years ago.

I hate the whole idea of bringing lunch, reminds me of being in primary school. Been buying lunch everyday since secondary school and have no desire to change it. Much nicer, much handier, no having to predict what you feel like when lunch comes etc etc. Also an excuse to head off out to different places everyday (I rotate around to a few different places). It’s normally a takeaway sandwich so costs 5 to 8 euro a day depending on the place and I’m happy with that, if we stay out and I buy tea it’s a little more but that’s usually only once or twice a week.

Also If I brought lunch I’d spend a lot more than a 10er a week so the savings wouldn’t be massive compared to the advantages to me of buying it.

chrissb8

Put it away somewhere safe and where you'll forget it until you really need it. What I do anyway, have a banking app that let's you put into a seperate "pot" as it's called. Then just budget the remaining amount in your account.

I was truly awful with money up until very recently. I'm annoyed at myself over what I was spending money on. It's easy to save when you just apply a bit of inspection to your life and realise how much you're needlessly spending.

I do not like holier than thou people going on about how much they've saved and bringing that mentality into nights out, events etc. Trying to veer people towards cheaper options on holidays as well with early flights, 5 different connecting transports from the airport when a taxi would be fine or suggesting eating dinner in the apartment/accomodation. Please, get a grip of yourself.

CrankyHaus

Outside of Boards I have never met any Irish people who are holier-than-thou about saving. Quite the opposite in fact, among many there seems to be a belief that looking after your money is a sin on a par with kiddy-fiddling and any sign of common sense will be shouted down and criticised. I've had people boast to me about how their monthly pay goes directly into servicing their overdraft.

CalamariFritti

Winning_Stroke wrote: »

My sister is great for coming out with guff like this. And "sure you can't take it with you". Met her in town at the weekend, she was just coming from picking up a new phone "because her contract is up". I asked why not just keep your old, functional phone and just switch to a sim only deal or whatever. That was roundly rejected. She's coming up on the age where she'll soon start wanting a property of her own. I fully expect a rant about how it's impossible to save money for a deposit...

It’s guff and it isn’t.
Your sister is just using this line to justify her stupidly indulging. It’s guff then.
But I’ve also met people for whom keeping their money together became an obsession. And you know by looking at them.

As usual the truth is in the middle somewhere.

Only saying it’s ok to sometimes spend just because you want something.

whisky_galore

antimatterx wrote: »

I was watching the show on RTE "How to be good with money"

RTE couldn't think of anything better than that placeholder name for the show?

whisky_galore

imme wrote: »

bread and circuses

or the modern equivalent, I-phones and deliveroo

some people are essentially stupid

I can't understand how people are so lazy that they'd prefer a lukewarm meal delivered by legalised slavery on a push bike than going out or, god forbid, cooking.