Posted by Ted on August 6, 2003, at 17:27:47
In reply to Spendaholia- Dinah, Ted » Ted, posted by Kar on August 6, 2003, at 11:19:53
> Ted and Dinah- just interested- were you brought up that way?
What way? I grew up in a lower-middle class family with negligible discretionary spending ability. I learned to manage money from a very young age because it was the only way I could get what I wanted (saving allowance, planning for the future, etc.)
When I graduated from university and started professional work, I moved to a different state and I had virtually no start-up cash (apartment deposit, car insurance & registration, rent, etc.). It took me around 9 months to build a small savings account. By careful saving and cautionary spending, I managed to build a reasonable savings.
When my wife and I bought our house, it was just like starting all over again. We drained all our accounts to make the down payment and closing costs. We ate lots of peanut butter-and-jelly sandwiches and macaroni-and-cheese for the first 6 months or so. Again, through careful saving and cautionary spending, we have built a handsome savings, many quality investments, and have our retirement completely funded.
BTW: My wife's parents (mainly her father) are even tighter with their money than I was in the beginning, to the point they make poor financial decisions. That is where my wife learned to be a cautious spender.
Credit card companies must hate us: In 18 years, I have paid only $3 and change in interest, and that was only because I lost the bill before I could pay it off in full.
Dinah, you can do this. I know you can, because I did nearly the same. Just keep reminding yourself you don't have a choice, and stick with it.
Ted
poster:Ted
thread:248407
URL: http://www.dr-bob.org/babble/social/20030727/msgs/248706.html