Money is for...spending or saving ?

[Dancing Fire]

wife is a saver.i am a spender,but i spent my own money.

 

[Phoenix]

Date: 11/10/2009 2:58:08 AM
Author: Dancing Fire
wife is a saver.i am a spender,but i spent my own money.

Hang on, DF!! I thought according to Asian traditions and customs, all of the husband''s money is the wife''s money and her money is also her money!! Ha ha!!

 

[Dancing Fire]

Date: 11/10/2009 10:30:28 AM
Author: Phoenix

Date: 11/10/2009 2:58:08 AM
Author: Dancing Fire
wife is a saver.i am a spender,but i spent my own money.

Hang on, DF!! I thought according to Asian traditions and customs, all of the husband''s money is the wife''s money and her money is also her money!! Ha ha!!

we always had separate accounts.

 

[ljmorgan]

The husband and I are both! We have money taken out of our paychecks automatically for our 401Ks, Roth IRA''s, and then our longer term savings. So after living this way for several years, it doesn''t even really feel like we''re saving since we never see that money. Then I feel like we only "save" for larger purchases -- travel, jewelry, home repairs, etc. It works well for us!

 

[lilyfoot]

I am both a saver and spender. BF is the same way.

After deductions from paychecks (401k, medical, etc), bill money, and savings .. we have our "fun" money

 

[icekid]

We mostly save, too. But we also make budgets for vacations and other fun items! And our own "fun" money that we spend on whatever we please (colorful gems, in my case

)

 

[TravelingGal]

spaver.

 

[Octavia]

DH has more of a spender mentality, but saves a lot too. I have more of a saver mentality, but still manage to spend plenty. For me, the important part is spending wisely -- I hate wasting money on silly things, but can easily justify spending on things that matter to us.

 

[PilsnPinkysMom]

Date: 11/9/2009 11:04:52 AM
Author: Haven
Both.


We save up so we can spend it well and on things we will really enjoy. But, we have to save first because we don''t believe in using credit to buy things.

Ditto this. We save to spend... Even if that means "spend during our retirement" or "spend if there''s a personal emergency"

 

[AdiS]

Date: 11/8/2009 11:14:17 AM
Author: musey
Both, of course (how would we survive if we didn't spend on some things?). My husband and I tend to be savers overall. The 'you only live once' thing doesn't make a lot of sense for us as 20-somethings with our whole lives ahead of us... we can be spenders once our retirement account is looking very healthy

lol musey, I don't think this is age related cause it makes perfect sense for me as a 25-year-old. I think this is more of a mentality, a way of thinking. I don't like putting off living my life for later, I want to live it now. Today we're young, healthy and happy and we think we have our whole lives ahead of us. As someone who has had a near death experience, however, I can tell you that I'll never again choose my savings account instead of a nice trip with my DH, for example. Yeah, you only live once, but if you do it right, once is enough.

 

[D&T]

I''m in one extreme to another. I can spend like there is no tomorrow, but then I can go without another year and just hoard all the money in our savings account, its feast or famine, but right now its inbetween

 

[partgypsy]

Used to be really good at saving. My first job making 22K a year saved 7K in a year and a half. Also black belt in saving when in grad school. But after kids, finding Pricescope, um gotten better at spending, purse strings have loosened. Then in the past year or so there was a number of unexpected expenses in our immediate family and my family, expenses in the thousands of dollars.
So, feel like I wouldn''t mind my previous discipline. Not that I necessarily feel I need to go back to eating all ramen, but to make our spending a little more conscious. Both working and having small children it''s easy to "spend" your way out of a problem (No food in house, let''s ge take out! Kids growing out of clothes? Stop by mall! (versus multiple thrift stores).

Personally I think I spend plenty but MIL and SIL possibly referring to my old ways make references to me being a tightwad and never spending money on myself.

 

[vc10um]

Date: 11/10/2009 6:27:04 PM
Author: TravelingGal
spaver.

*giggle*

 

[jewelerman]

Date: 11/13/2009 12:16:10 PM
Author: vc10um

Date: 11/10/2009 6:27:04 PM
Author: TravelingGal
spaver.

*giggle*

 

[kas baby]

Date: 11/10/2009 10:44:02 PM
Author: PilsnPinkysMom

Date: 11/9/2009 11:04:52 AM

Author: Haven

Both.



We save up so we can spend it well and on things we will really enjoy. But, we have to save first because we don''t believe in using credit to buy things.

Ditto this. We save to spend... Even if that means ''spend during our retirement'' or ''spend if there''s a personal emergency''

Thritto to this. We have an extreme dislike of buying things on credit. If there isn''t enough money in the checking or savings for it, we set a goal and save up for it.
I find myself thinking that we never have enough saved, and FI is much better and more realistic about our money, I don''t know why I''m thinking we don''t have enough since everything gets paid, but who knows what could happen...

 

[Lady_Disdain]

I plan on a very early retirement, so I save a lot. I plan my spending, so I concentrate it on what matters to me (traveling, gems) and not on impulse things (well, gems are often impulsive)

 

[stone-cold11]

saver.

 

[musey]

Date: 11/13/2009 2:31:31 AM
Author: AdiS

Date: 11/8/2009 11:14:17 AM
Author: musey
Both, of course (how would we survive if we didn't spend on some things?). My husband and I tend to be savers overall. The 'you only live once' thing doesn't make a lot of sense for us as 20-somethings with our whole lives ahead of us... we can be spenders once our retirement account is looking very healthy

lol musey, I don't think this is age related cause it makes perfect sense for me as a 25-year-old. I think this is more of a mentality, a way of thinking. I don't like putting off living my life for later, I want to live it now. Today we're young, healthy and happy and we think we have our whole lives ahead of us. As someone who has had a near death experience, however, I can tell you that I'll never again choose my savings account instead of a nice trip with my DH, for example. Yeah, you only live once, but if you do it right, once is enough.

I have a lot of friends who sit on piles of credit card debt, and an aunt+uncle who are in their 70s and still living paycheck to paycheck because "they only live once." That's what "you only live once" as applied to finances means to me, not vacations vs. savings accounts.

I'd be interested to hear about this near-death experience! I came within an inch (literally) of being bowled over by a bus going probably 45mph once. That was an interesting day.

There will always be uses for our money, and we don't go without indulgements like vacations, we just find a balance. Like that All State commercial says, we've rediscovered that "meatloaf and Jenga can actually be more fun than reservations and box seats."

I'd rather apply "you only live once" to things like that than to my spending habits.

 

[Fly Girl]

Savers. But, the kids are in college, so now we are spending their college funds. After all, that''s what the money was for.

 

[kas baby]

Date: 11/13/2009 7:19:32 PM
Author: Fly Girl
Savers. But, the kids are in college, so now we are spending their college funds. After all, that''s what the money was for.

I wish my parents were that amazing. I got a pat on the back and a "Thank God you''re so smart- you''ll get scholarships for sure."

My mom is pretty great though, she helps me find good loans and whatnot when scholarships and grants aren''t enough. My dad on the other hand,

. My permanent address was the same as his my first year, so when my refund check came in the mail, I asked him to take care of it since I didn''t have the time- worst mistake ever. Instead of putting it in my account so I could pay off part of my loan, he ''borrowed it for the house payment, since money is so tight.'' This coming from the man who takes several out of state trips each month that are NOT work related and constantly buys frivolous things? I changed my address to my moms. I''m still waiting for him to pay me back

 

[Lynn B]

I agree with Alj, I feel that there needs to be a healthy balance between spending and saving. And that *balance* may ebb and flow or change significantly throughout a couple or family's lives, circumstances, etc.

IMHO, I think that in general a good overall formula is:

After all the bills are paid + groceries bought + a reasonable sum tucked away in savings, college fund(s), retirement, etc., + some donated to worthwhile causes = the rest is FAIR GAME, BABEEEEE!!!

 

[NewEnglandLady]

Date: 11/13/2009 9:35:09 PM
Author: Lynn B
I agree with Alj, I feel that there needs to be a healthy balance between spending and saving. And that *balance* may ebb and flow or change significantly throughout a couple or family's lives, circumstances, etc.

IMHO, I think that in general a good overall formula is:

After all the bills are paid + groceries bought + a reasonable sum tucked away in savings, college fund(s), retirement, etc., + some donated to worthwhile causes = the rest is FAIR GAME, BABEEEEE!!!

Ditto--I'm like most PSers. We save, don't put anything on credit and set financial goals before spending. D and I are the same when it comes to money and I don't think we've ever argued about it.

D has been a saver since he was a kid--I joke that he still has his birthday money from when he was a kid. I was not always a saver, but my parents were amazing examples and despite being very poor, they managed to save. If my mother were in charge of balancing the nation's budget, we'd be in the black in about 10 second flat. I realized the value of saving when I was a young teenager and once I learned that more can be gained by delaying pleasure, I never looked back.

 

[Fly Girl]

Date: 11/13/2009 8:50:30 PM
Author: kas baby

Date: 11/13/2009 7:19:32 PM
Author: Fly Girl
Savers. But, the kids are in college, so now we are spending their college funds. After all, that''s what the money was for.

I wish my parents were that amazing. I got a pat on the back and a ''Thank God you''re so smart- you''ll get scholarships for sure.''

My mom is pretty great though, she helps me find good loans and whatnot when scholarships and grants aren''t enough. My dad on the other hand,

. My permanent address was the same as his my first year, so when my refund check came in the mail, I asked him to take care of it since I didn''t have the time- worst mistake ever. Instead of putting it in my account so I could pay off part of my loan, he ''borrowed it for the house payment, since money is so tight.'' This coming from the man who takes several out of state trips each month that are NOT work related and constantly buys frivolous things? I changed my address to my moms. I''m still waiting for him to pay me back

Sorry to hear that kas, and agree that it is so wrong for your dad to take your money. Yes, my son mentions each time he is home about how he is the only one among his friends who doesn''t have any student loans, and what a difference it makes as to the choices he can make about his future. It is nice to be appreciated, because for a lot of years you kind of wonder....

 

[kas baby]

Date: 11/13/2009 10:16:21 PM
Author: Fly Girl

Date: 11/13/2009 8:50:30 PM

Author: kas baby

Date: 11/13/2009 7:19:32 PM

Author: Fly Girl

Savers. But, the kids are in college, so now we are spending their college funds. After all, that''s what the money was for.

I wish my parents were that amazing. I got a pat on the back and a ''Thank God you''re so smart- you''ll get scholarships for sure.''

My mom is pretty great though, she helps me find good loans and whatnot when scholarships and grants aren''t enough. My dad on the other hand,

. My permanent address was the same as his my first year, so when my refund check came in the mail, I asked him to take care of it since I didn''t have the time- worst mistake ever. Instead of putting it in my account so I could pay off part of my loan, he ''borrowed it for the house payment, since money is so tight.'' This coming from the man who takes several out of state trips each month that are NOT work related and constantly buys frivolous things? I changed my address to my moms. I''m still waiting for him to pay me back

Sorry to hear that kas, and agree that it is so wrong for your dad to take your money. Yes, my son mentions each time he is home about how he is the only one among his friends who doesn''t have any student loans, and what a difference it makes as to the choices he can make about his future. It is nice to be appreciated, because for a lot of years you kind of wonder....

aww. I''m glad to hear that your son appreciates the saving you did- it really is a blessing to not have those student loans chained to you. I can tell you that it makes a world of difference to have that familial support- both monetary and emotional. I know in my case, my parents may not be able to spare part of their paycheck, but at least with my mom I know she is proud of me for being so determined and going ahead with my education anyway. I''m a first generation college student as well, so I have no one to model after. FI and I are figuring things out though

 

[AdiS]

Date: 11/13/2009 6:38:48 PM
Author: musey

Date: 11/13/2009 2:31:31 AM
Author: AdiS

Date: 11/8/2009 11:14:17 AM
Author: musey
Both, of course (how would we survive if we didn''t spend on some things?). My husband and I tend to be savers overall. The ''you only live once'' thing doesn''t make a lot of sense for us as 20-somethings with our whole lives ahead of us... we can be spenders once our retirement account is looking very healthy

lol musey, I don''t think this is age related cause it makes perfect sense for me as a 25-year-old. I think this is more of a mentality, a way of thinking. I don''t like putting off living my life for later, I want to live it now. Today we''re young, healthy and happy and we think we have our whole lives ahead of us. As someone who has had a near death experience, however, I can tell you that I''ll never again choose my savings account instead of a nice trip with my DH, for example. Yeah, you only live once, but if you do it right, once is enough.

I have a lot of friends who sit on piles of credit card debt, and an aunt+uncle who are in their 70s and still living paycheck to paycheck because ''they only live once.'' That''s what ''you only live once'' as applied to finances means to me, not vacations vs. savings accounts.

I''d be interested to hear about this near-death experience! I came within an inch (literally) of being bowled over by a bus going probably 45mph once. That was an interesting day.

There will always be uses for our money, and we don''t go without indulgements like vacations, we just find a balance. Like that All State commercial says, we''ve rediscovered that ''meatloaf and Jenga can actually be more fun than reservations and box seats.''

I''d rather apply ''you only live once'' to things like that than to my spending habits.

Well there you go, a way of thinking! Living in debt or finding your purse empty before the next paycheck as far as I''m concerned, does not equal not saving every penny you earn. You can be debt free and still not be a saver.

Of course it''s important to find the right balance, it''s just that this balance is different for everyone. Everyone has a different view and opinion and that''s perfectly fine!

And thank God for that inch between you and the bus! It must''ve been so scary!

Hmm, about the near-death experience, I was hit by a car in 2005, it was a horrible impact which happened right before the eyes of my husband. I was lucky to stand up and walk away with no serious harm done, but I wasn''t the same anymore. Something like this changes your perceptions, money included.