stevio
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Post by stevio on Jun 4, 2020 9:00:11 GMT
My income increased dramatically when I started contracting but I continued to spend the same as before and my saving increased. I have enough money to buy things and would not be in debt
I struggle to take time off work as it is unpaid time and I compare what I could earn
I am often happy with things as long as they are still functional and rarely replace things until they stop working
Example would be a mobile phone, kitchen, bathroom, car etc
Saving money has become an obsession and it can effect negatively effect an experience as I look for a voucher or bargain or search for the cheapest price
I have read this might be money dysmorphia
I wondered if anyone else has experienced this and how they overcome it?
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r00lish67
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Post by r00lish67 on Jun 4, 2020 9:55:56 GMT
"I am often happy with things as long as they are still functional and rarely replace things until they stop working"To me this is normal, and people buying replacement stuff every year or two are insane. Unless you're one of the very fortunate to be able to do both, I'd much rather own my own time instead of shinier stuff. I hope those queueing for hours to access IKEA in a pandemic can overcome it, one day  edit: This is my angle. My wife, being a nicer person than me, does exactly the same but for ecological reasons. An equally valid reason not to buy endless tat.
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lara
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Post by lara on Jun 4, 2020 10:05:25 GMT
I am often happy with things as long as they are still functional and rarely replace things until they stop working Example would be a mobile phone, kitchen, bathroom, car etc This is the way it used to be and the way it should still be now. It's a good thing. Try Joinhoney.com When you have something in your basket, it finds the codes for you. It'll give you some of your time back.
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registerme
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Post by registerme on Jun 4, 2020 10:16:37 GMT
I have read this might be money dysmorphia I wondered if anyone else has experienced this and how they overcome it? I don't, but then again I tend to apply Pareto's Law in pretty much every situation I can (aka I am lazy efficient), and where it's worth it ie I'm not going to bother over the price of a tin of beans. 20% of the effort typically results in 80% of the return. You could probably apply that to your money saving efforts to good effect, and also end up not feeling quite so obsessed about things.
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travolta
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Post by travolta on Jun 4, 2020 10:37:41 GMT
Its interesting to assess why people spend money.
I help support a young family. A child before either was 20 ,now two children. I felt that by giving them cash I could help the relationship survive and it does.
BUT the cash is spent on cars,mobiles for all the family and holidays. They have status amongst their peers . Children indulged , bedrooms bursting with toys.
Me, child of the fifties, cannot help but feel that if they could lay aside a portion there would be enough for a deposit on a house by now.
Also I cannot pull the plug.
My parents were desperate when I was a child and every weekend there were sad rows over lack of propects. Money can bind a relationship and lack ofit breaks it.
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IFISAcava
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Post by IFISAcava on Jun 4, 2020 10:59:05 GMT
I have read this might be money dysmorphia I wondered if anyone else has experienced this and how they overcome it? I don't, but then again I tend to apply Pareto's Law in pretty much every situation I can (aka I am lazy efficient), and where it's worth it ie I'm not going to bother over the price of a tin of beans. 20% of the effort typically results in 80% of the return. You could probably apply that to your money saving efforts to good effect, and also end up not feeling quite so obsessed about things. Although sometimes you don't know until you look whether it is a tin of beans or a tin of caviar that you might save.
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hazellend
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Post by hazellend on Jun 4, 2020 11:39:21 GMT
Hi stevio. Have you read mrmoneymustache blog? Full of like minded individuals.
Being frugal is a good thing, but not if it negatively impacts you or your loved ones (then it’s not frugal, it’s cheap/mean).
I drive a 9 year old octavia with 150k on the clock. It’s a great car but my parents don’t understand why I don’t buy a brand new high end car, maybe I will one day.
Another bizarre trait I have is that I might struggle to buy a Costa coffee but if my portfolio tanks 50k in one day, I’m not bothered at all.
Having a spouse and 2 young kids helps with spending money too, but we are all pretty sensible
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stevio
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Post by stevio on Jun 4, 2020 11:55:19 GMT
"I am often happy with things as long as they are still functional and rarely replace things until they stop working"To me this is normal, and people buying replacement stuff every year or two are insane. Unless you're one of the very fortunate to be able to do both, I'd much rather own my own time instead of shinier stuff. I hope those queueing for hours to access IKEA in a pandemic can overcome it, one day edit: This is my angle. My wife, being a nicer person than me, does exactly the same but for ecological reasons. An equally valid reason not to buy endless tat. I guess TIME is one of those things you should spend money on You can't replace it and can buy it back as holiday
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jonno
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nil satis nisi optimum
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Post by jonno on Jun 4, 2020 12:24:18 GMT
stevio. Thank you for being brave enough to post your OP which I have found possibly the most thought provoking I've read on this forum for many years (probably because I see many of my own traits in there and is something I've been trying to rationalise and deal with quite recently). I've spent the last couple of hours trying to compose a worthy and helpful response but haven't quite got there yet.
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jonno
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nil satis nisi optimum
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Post by jonno on Jun 4, 2020 12:30:00 GMT
Hi stevio. Have you read mrmoneymustache blog? Full of like minded individuals. Being frugal is a good thing, but not if it negatively impacts you or your loved ones (then it’s not frugal, it’s cheap/mean). I drive a 9 year old octavia with 150k on the clock. It’s a great car but my parents don’t understand why I don’t buy a brand new high end car, maybe I will one day. Another bizarre trait I have is that I might struggle to buy a Costa coffee but if my portfolio tanks 50k in one day, I’m not bothered at all. Having a spouse and 2 young kids helps with spending money too, but we are all pretty sensible Re your Costa/portfolio comment; on the day before the Cheltenham Gold Cup (can't remember the precise date) I was totally elated at winning £30 on the horses whilst I dropped £30k on my portfolio. When I told my friends they thought I was seriously starting to lose it 
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Post by df on Jun 4, 2020 13:41:23 GMT
My income increased dramatically when I started contracting but I continued to spend the same as before and my saving increased. I have enough money to buy things and would not be in debt I struggle to take time off work as it is unpaid time and I compare what I could earn I am often happy with things as long as they are still functional and rarely replace things until they stop working
Example would be a mobile phone, kitchen, bathroom, car etcSaving money has become an obsession and it can effect negatively effect an experience as I look for a voucher or bargain or search for the cheapest price I have read this might be money dysmorphia I wondered if anyone else has experienced this and how they overcome it? The same here. I don't need to spend much money on things to feel happy. I buy replacement items only when they are out of order (non-reparable). I don't go on expensive holidays, don't enjoy pus/clubs/restaurants and don't do many other costly things that most people do. There are also ecological reasons - I don't like excessive consumerism. As a result I have spare money, which is quite useful peace of mind in current situation. I've never heard of "money dysmorphia", but if that's what I have I wouldn't want to overcome it.
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Post by bernythedolt on Jun 4, 2020 17:35:01 GMT
"I am often happy with things as long as they are still functional and rarely replace things until they stop working"To me this is normal, and people buying replacement stuff every year or two are insane. Unless you're one of the very fortunate to be able to do both, I'd much rather own my own time instead of shinier stuff. I hope those queueing for hours to access IKEA in a pandemic can overcome it, one day edit: This is my angle. My wife, being a nicer person than me, does exactly the same but for ecological reasons. An equally valid reason not to buy endless tat. I guess TIME is one of those things you should spend money on You can't replace it and can buy it back as holiday I did exactly that for the last seven years of my working life. I went part-time and worked a four day week rather than five. It cost me salary and bit of pension, but the difference in quality of life for those seven years, working 4-3 rather than 5-2 was staggering. Money very well spent and if I had that time again I would do exactly the same.
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james100
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Post by james100 on Jun 4, 2020 18:29:24 GMT
My income increased dramatically when I started contracting but I continued to spend the same as before and my saving increased. I have enough money to buy things and would not be in debt I struggle to take time off work as it is unpaid time and I compare what I could earn I am often happy with things as long as they are still functional and rarely replace things until they stop working Example would be a mobile phone, kitchen, bathroom, car etc Saving money has become an obsession and it can effect negatively effect an experience as I look for a voucher or bargain or search for the cheapest price I have read this might be money dysmorphia I wondered if anyone else has experienced this and how they overcome it? It's obviously a problem if you feel it's affecting you negatively but you probably need to work our where it's come from before you can overcome it e.g. childhood experiences, inherited / indoctrinated values, work flow insecurity, fear of poverty, justification for workaholism (as a separate and serious problem in its own right), aversion to social convention or external expectations, too susceptible to social convention or external expectations, laziness or panic when confronted with making the "right" purchase decision...or simply not knowing how much is "enough" so you can relax. Money represents very different things to different people and I have had friendships / relationships that were profoundly affected by different attitudes to wealth accumulation, expenditure and the associations with self-worth and social status. It's just more complicated for some people than others and that's mostly OK. If you have not reached your magic number for financial independence then as a contractor in the current environment then it's not bad to be a saver.
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