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money & anxiousness - does it ever go?

6 replies

lemonfizzysweets · 04/02/2025 07:38

We were brassic when we met, absolutely brassic. We both worked two jobs (sometimes three) and studied on the side. We also both had student debts. I got an injury right at the point of qualifying which meant I couldn't work at the level I paid to train at in my profession. So debt without the expected payoff and DH ended up going in a different direction so, in the end, his qualification was useless too.

For years and years, we lived hand to mouth paying off the student debts and making rent, reeling if an unexpected bill came in. Having several weeks where it was a variation of beans on toast. Nights awake worrying about bills and the banger of a car which was all we could afford but was also a lifeline to get us to work. Every penny mattered and we worked hard to make our budget work.

About 8 years ago we both came good. I was able to move into a field that paid well and I had an employer who invested in me. DH then got promoted, three times in three years. but our spending has not changed.

While it doesn't sound a big deal, in fact, it is to be commended, we scrimp on everything! everything that comes in the house, something has to leave. Everything is used to the last possible drop or until it is falling apart. Slightly threadbare carpets, lumpy mismatched second-hand sofa and furniture from a fire sale. All too good to throw, but has student-flat vibes.

Everything we have or own is gently used, second hand or a bargain - it is great for the environment but as a mindset, I am worried we are heading down the same path as my nana who lived in a time of rations and from then on always lived like a miser, no heating, no holidays, no frills, no fun - but on death, it was discovered she had an extraordinary amount of money in the bank.

I am genuinely concerned that because of our long cash strapped past we have become very fixed in how we view money and we do seem to get anxious or feel selfish/frivolous to spend a single pound that is not an absolute necessity. We overly justify why we are buying something that is not an absolute necessity rather than accept we can. we are very much straying into nana territory of no heating, no holidays, no frills, no fun.

For example, we promised we would sort the sad student sofa out and went shopping, looked at the at the cost and talked ourselves out of it (and lied to ourselves that we will wait until the January sales) - we still have the sofa, several years on. (we could buy a new sofa outright and not touch rainy days savings at all!)

I can feel us turning into my nana and gramps. even typing the above about potentially spending money has made me feel wound up and unaccountably anxious.

is there a gentle way to reprogram a overly frugal mindset (preferably using a free resource, just kidding lol)

OP posts:
Dyrne · 04/02/2025 08:01

I’m the same.

The way I get round it is that I have a very clear budget that I stick to which accounts for all expenses (plus sinking funds for non regular expenses); This budget includes a strict minimum for pension and long term savings.

I’ve also got an “Emergency Fund” stashed away in a seperate account I never touch which would get me through 6 months of expenses (or equivalent costly crisis).

Anything left after all that is mine guilt free to save or spend how I want. Anything I don’t spend that month goes into a “leftover” pot which then accumulates and I can spend on a bigger ticket item if I wanted to (such as a last minute unbudgeted day out or upgrading a piece of furniture).

I’ve found having the security of knowing I’ve provided for my future, and I’ve got a solid emergency fund; has helped me really see that leftover money as “yes, you really can spend this if you want to”.

i’ve seen a lot of people account for a “fun/frivolity” fund in their budgets too, maybe that could work for you?

lemonfizzysweets · 04/02/2025 08:27

Thank you for replying @Dyrne

I have a fun fund, which we put £50 a month (we then have a blow out day on our birthdays)

We are terrible though, we, like you, have a

Emergency fund
A general savings fund
6 mo expenses fund

We were then going to do a 'second fun fund' but our car insurance came in the same day and we ended up discussing that we pay over the odds for DD when you can save quite a bit by paying in one lump sum. So instead of starting the second fun fund we started a 'future bills' fund so we get the savings by paying the house car and energy in a lump sum. (but when the bills came due we didn't want to chip into the savings we made so kept the DD anyway and still kept the future bills fund running!)

We then started a DD for an ISA, as the second fun fund - but of course, once it's savings you don't touch it.

So all we did was successfully move more money around but not let go of the death grip on it.

OP posts:
ComtesseDeSpair · 04/02/2025 09:12

It’s the sort of thing that you can have talking therapies for, to reframe how you think about and respond to situations. When it’s gone beyond normal caution about and into making your life actively miserable (crap furniture, threadbare carpets, getting anxious over the thought of spending any money) then it’s absolutely worth addressing. Ultimately it’s likely to be a form of OCD, that you’ve gotten into such a mental pattern of counting things up and seeing particular numbers in your bank account which trigger a type of “hit” for you.

I have the opposite approach to you, driven by similar experience. Because I’ve had very little money and now have a lot of it, I know that money is the one of easiest things to come by, I can always make more of it, and I don’t let thinking about it rule my life.

lemonfizzysweets · 04/02/2025 10:32

@ComtesseDeSpair

It is lovely to hear from someone with a different take on money. Being so broke for so long the idea that 'money is easy to come by and we can just make more of it' is a very alien viewpoint!

Are you printing it in your basement? 😁

OP posts:
IsItTimeToRetireYet · 04/02/2025 11:58

I can identify with this and often wonder if I’m being over-cautious.

If you’ve got your emergency fund and investments for the future all sorted, then the 50-30-20 rule is a good one.

Budget 50% for needs (housing, bills, food, etc), 30% for wants (discretionary spending you would cut in a tight spot) and 20% savings. Not necessarily those percentages depending on needs and savings goals, but it’s a starting point.

I’ve organised myself this way by paying my savings and ‘wants’ budget into separate accounts to my ‘needs’ budget on payday. Then I have a realistic view of what I have to play with.

I have annual budgets for the spendy fun stuff, like non-essential home improvements and holidays, and allocate part of my ‘wants’ budget to pots for each of those on a monthly basis. I’m also doing the 1p saving challenge this year to kickstart my 2026 holiday fund!

I have a future bills pot for the bigger annual needs like insurance and pay into it monthly.

It can be addictive to just watch the savings grow, but I’ve found this approach really helpful as I know I’m still hitting my savings goals when I treat myself.

howsoonis · 04/02/2025 12:15

@lemonfizzysweets - how old are you now?
I'm in my late 40s - I've never done a festival (too expensive) and I'm too old and wouldn't manage it now (health issues).
I am focusing on long haul travel with my friends for the next decade as I have older friends who tell me as they get older they have less energy for this.

There is a season for everything and so now you've been sensible with finances, don't let that season pass you by. I'm the same - paid off my mortgage, saved into a pension etc but I also want to enjoy certain experiences whilst I'm young enough to do so - my mum is in her 70s and doesn't travel anymore

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