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| General Discussion Please read our Forum Rules before posting Feel free to talk about anything and everything about money. |
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03-03-2011, 06:30 PM
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Addicted to money
I check my checking account balance at least 4 times a day. I check my SmartyPig account at least twice. And all I think about is where my money is going on my next paycheck. I am horribly addicted to money and controlling it. Is anyone else?
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03-03-2011, 06:51 PM
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It will get boring eventually.
__________________
Marcus Tullius Cicero: The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.
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03-03-2011, 07:19 PM
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*shamefully raises hand*
Yeah I am too. I am an account checker as well. I like checking my investment account throughout the day to see how my positions are doing, which is probably not a good idea. But for me it is fun to do that. One area I would like to work on is my giving. I am too selfish with the money I have. The last time I donated was $100 in January. For me that is not enough. Another area I would like to work on is spending more time and money with friends. As of late I have been kinda anti-social, just really trying to focus on school and saving money. Two years ago I was the opposite, and racked up debt and partied too much. I have changed my ways 180 degrees, but I fear this change could be negative as well. So needless to say, you are not alone!
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03-03-2011, 10:22 PM
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Like maat55 said, it will eventually become like checking paint to see if it's dried yet.
__________________
"Those who can't remember the past are condemmed to repeat it".- George Santayana.
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03-04-2011, 04:14 AM
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You need balance. Something else to do to occupy your mind. I enjoy going to the gym and working out, being outside, working on cars, playing with my dog.
Like matt said, it becomes boring and pointless. I check my stock portfolio if there is a big move in the market, or if I am thinking about buying or selling something, but I try not to obsess over it. My accounts are to a point where they will flucuate several thousand dollars up or down day to day. But to worry about it is pointless. I'm not planning on retiring for at least 30 more years.
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MODERATOR Brian
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03-04-2011, 06:03 AM
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If I'm expecting transactions to post (mostly around the 1st/15th), then I'll normally check my accounts perhaps daily, just to see confirm the amounts are what I'm expecting (both income and expenditures). However, very few banks make updates to their systems more than once daily, so it's mostly pointless to check repeatedly during the day. I say this, and my bank is one of the few that does...
but in any case, you'll grow to not worry about it. If you're concerned, add a larger buffer into your account. If it's out of boredom, pick up a new hobby. If it's all you can think about, go to the gym/go for a run/whatever workout suits you. It'll help get your mind off of it and onto other (more important) matters...and it's healthy too. 
__________________
"Praestantia per minutus" ... "Acta non verba"
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03-04-2011, 08:41 AM
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Quote:
You either need a new hobby, or friend/date to occupy your mind more
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03-04-2011, 10:50 AM
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Quote:
Earlier last year I had a CC fraud scare in that someone tried to buy airline tickets with it. I caught it about an hour after the charge was made/posted and immediately called Amex to report it. They have a fairly lenient policy for customers when the CC is misused, but I like to think that my quick response helped them in catching the perpetrator, albeit I was never told whether he/she was caught
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03-04-2011, 06:16 PM
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I'm just very scared of overdrafting. A buffer would be nice. I have to build it up first though.
Maybe I will take up walking. Healthy is good, both in body and mind.
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03-05-2011, 01:52 PM
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Walking has great benefits like adding positive endorphins, building strength and avoiding spending. If you're fretting over your bank balance, you are spending more than your income allows. Best to find either some way to cut/reduce spending or increase your income.
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03-07-2011, 01:23 AM
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Happy to learn you're not running an overdraft, that's just one more way the banks transfer money from your account into their profit line. I suggest you find a way to decrease spending or increase income which would allow you to build up a buffer between sums in your bank account and spending. Wouldn't that reduce your anxiety?
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03-07-2011, 04:11 AM
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Probably. I'm currently working on that. Me and hubby are both students, we bring in maybe $1200 a month. So, it's going to take us a while to come up with a good buffer.
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03-07-2011, 06:19 AM
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I'm the same way, but I'm more addicted to my budget. I have a complex spreadsheet I use for tracking my budget complete with graphs (even one for my spending ceiling analysis).
So, I guess I am addicted to controlling money, but more in the sense of I want to see what I can reasonably afford (for fun) on a yearly basis...and I also like to compare my energy bills from the previous years and predicting what they might be the following year when I implement saving tips. I'm not a scrooge by any means, but I just find it interesting.
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03-07-2011, 06:36 AM
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Depending on what bank you use and if you have an up-to-date phone you can get alerts to your phone when your close to overdrafting. I use Bank of America and I know they have a program like that! I haven't set it up, but it may something you could look in to!
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03-07-2011, 06:43 AM
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Definitely check and see if your bank will warn you about overdrafts and maybe that will lessen your anxiety. Bottom line is that if you feel like you are obsessing over it you probably are. Take up walking for sure, maybe some yoga or meditation and learn to relax. And if you can set aside as much as $5 or $10 as week for a buffer, that's at least a start. Good luck to you!
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03-08-2011, 10:49 AM
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Quote:
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03-08-2011, 11:13 AM
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I look at my checking account almost daily just to make sure there are no errors. I also rebalance my Excel Budget spreadsheet every day and make changes to future budgets when new information arises or there are unexpected bills or incomes to apply. To me it's like running an efficient and organized business.
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