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#85988 - 08/30/06 12:21 PM Re: Finances - Why so Scary? [Re: Jane_Carroll]
jawjaw Offline
Da Queen

Registered: 07/02/03
Posts: 12025
Loc: Alabama
Would you believe I got an email this morning from a company who is selling products to educate your child on how to earn, save, and take care of their future. For grade schools. I was so elated to see that someone took the bull by the horns and ran with it. Great idea for $39.99. Wish it had been around for ME!


#85989 - 08/30/06 01:21 PM Re: Finances - Why so Scary? [Re: jawjaw]
dejavu Offline

Registered: 08/16/06
Posts: 319
I just keep trying to impress on my kids that they want to stay away from credit cards. My oldest daughter and her husband ran up some debts when he was out of work for a while; they've now been able to work that back down and their regular payment history has allowed them to still have a good credit rating. They just bought their first house last month.

My second daughter and her husband won't even use a credit card at all.

My youngest daughter and my son both have a credit card (my account) to carry in case they get caught without cash in their pocket and need gas for their car or something, but they have to get permission to use it for anything else. (One is in college, one is in high school). Plus they have to pay me back for the gas. However, they both have student checking accounts (no service charge) and debit cards, and I worry a little about my daughter. She often spends her whole paycheck within the week after she's received it, whereas my son has built up a pretty good savings. My daughter feels that as long as she hasn't overspent, she's good, but I would really want her to develop a savings habit. So far, no beans.

As for myself, I'm VERY conservative about money. I'm far more likely to put any extra money into a 6-month CD than I am to invest it. Considering the state of the stock market lately, I think the CD's are a much better deal. You don't make much, but you can't lose it.
My website

#85990 - 08/30/06 07:11 PM Re: Finances - Why so Scary? [Re: dejavu]
Jane_Carroll Offline

Registered: 07/06/06
Posts: 1521
Loc: Alabama
Just thinking about why money is so scary...for me it is what stands between me doing what I want--writing, etc.--and returning to work as a nurse.

What would I do if money weren't an issue? I'd write, plain and simple.

Money...or the lack of it...scares me because it controls whether or not I get to keep doing my dream.

I think it's the same for most of us. Unfortunately we can live longer without love than we can money in the long run...

And I've always had love as the priority...oooooops!
Jane Carroll

#85991 - 01/22/07 01:16 AM Re: Finances - Why so Scary? [Re: Jane_Carroll]
orchid Offline

Registered: 01/21/07
Posts: 3675
Loc: British Columbia, Canada
If you earn money, then why would managing your finances be scary? It's your money, you sweated over it.

Anyway, my financial reality crashed in..was when I bought my own condo solo without asking family or friends to help me out. No one else had the money to give anyway. Then 14 yrs. later I sold relocate elsewhere.
It took alot of effort, but paid off mortgage in 6 years.

But yea, investing in mutual funds, stocks, becomes a chore to monitor and be abit alert about the markets. But it is money that I rightfully earned...

I was raised in a family where parents very rarely used credit cards. Yes, we were thrifty and poor.Got my first credit card...after I graduated from university...just so that I could build a credit line. And thank goodness for that, because honest, have not racked up credit card debt...except once. I was only $12.00 in debt...I forgot the transaction at the time

I met my partner later in life, so perhaps it helps to have lead, learning time in be forced to manage one's own income, especially when one has mortgage.
_________________________ (How cycling leads to other types of adventures, thoughts)

#85992 - 01/22/07 02:09 AM Re: Finances - Why so Scary? [Re: orchid]
Saundra Offline

Registered: 11/18/05
Posts: 1796
Loc: Daytona Beach, Florida
Finances scary? Only because everything costs so much and it's harder to save something. Only because meds, health & dental insurance, and car insurance keeps going up. Only because the cost of living keeps increasing and my income doesn't. I work on commission so every month is different. Here in Florida homeowners are losing homes because home insurance and taxes have tripled. No, I don't own but keep the dream alive. My rent increases by leaps and bounds because taxes increased so much.

I count every penny, nickel and dime. Like Kathy, I balance my checkbook to the penny monthly. I have no debt. Since committing to self-publishing my book I am spending, spending, spending, for a risk I am willing to take and I'm doing it the right way or it won't be worth the risk. I was taught that if you can't afford it you can't have it. Sometimes you have to go for it regardless of the outcome. This might be a once in a lifetime occassion and I would hate to think I didn't take the chance.
What I know for sure is that it's all connected.
Saundra Goodman
Got Teeth? A Survivor's Guide for your Free Tips

#85993 - 01/22/07 05:41 AM Re: Finances - Why so Scary? [Re: Saundra]
denanz Offline

Registered: 10/27/06
Posts: 34
Loc: Tempe Arizona
I am an accountant by trade and yes finances are scary. Now that I am getting older I realize that I do not have enough invested for my retirement years. So last year I put as much as I could into our plans and started looking into how I could make some extra money along with working full time. Which introduced me to the home based businesses and the online world. Hopefully nothing major comes along to knock me on my butt.

#85994 - 01/23/07 02:32 AM Re: Finances - Why so Scary? [Re: denanz]
jawjaw Offline
Da Queen

Registered: 07/02/03
Posts: 12025
Loc: Alabama
Denise, I like your site and have it bookmarked to see more, later. I think the finances are scary because as someone stated, everything is going up, up, up, and salaries are not rising to meet even the cost of living. So preparing for retirement has become a major priority where our parents relied on the company they worked for to "handle" that part.

It just isn't true anymore because of down-sizing, layoffs and streamlining that more and more companies are doing. This happens to people without their having prior knowledge a lot of the time and can destory some, financially. And emotionally!

Also, will Social Security be around when you retire? Who knows? One certainly can't live off SS, but every little bit helps. What if it isn't there though?

So becoming prepared financially for the unknown has become part of the equation for everyone nowadays and the worries are there that we might not be doing enough, or have enough. I'm not talking about luxuries either, I'm talking about surviving!

#85995 - 01/23/07 02:47 AM Re: Finances - Why so Scary? [Re: jawjaw]

I'm worried about Social Security, having just myself to support, I know I'll rely upon having that income. Just not certain how much I'll be able to rely upon!

#85996 - 01/23/07 05:15 AM Re: Finances - Why so Scary? [Re: ]
gims Offline

Registered: 01/16/07
Posts: 3402
Loc: USA
Health problems are what scare me. My DH and I have watched members of his family and mine being hit hard with health problems - money suckers!!! One member was financially wiped out, which I think sped up her death.
I hate dealing with the issue so badly, I keep stacking stuff away, thinking "later, maybe later." It sometimes makes my stomach hurt, thinking about it. DH has nothing to do with it. It's not his cup of tea. Aren't we a fine pair?

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