Do you believe "more money, more problems?"

MarshallMiddle · #1 (**permalink**) 07-10-2006, 03:08 AM

A rapper once said "the more money you have, the more problems you have." Do you find this saying to hold true. I do not. What are your thoughts?

sweeps · #2 (**permalink**) 07-10-2006, 04:05 AM

Ah, wisdom from P Diddy. I think it's not just the fact that you have more money, but that other people know about it that makes it difficult to deal with.

Broken Arrow · #3 (**permalink**) 07-10-2006, 04:53 AM

Yes, but two things come to my mind. First, there are problems associated with being poor as well, so I'd rather deal with the problems associated with wealth.

Second, to me, it isn't important what the problems are. To me, what's important is what the solution is. (Yes, I realize that, to get there, one does need to fully understand the problem, but that's not the point.

)

disneysteve · #4 (**permalink**) 07-10-2006, 06:15 AM

I'm not sure I'd call them problems, but having more money definitely gets more complicated: multiple bank accounts, brokerages, mutual fund companies, IRAs, 401(k)s, 1099s, extra schedules on the tax forms, etc. Much simpler to have a checking account and file a 1040EZ in April.

poundwise · #5 (**permalink**) 07-10-2006, 06:35 AM

A lot of people, even those who say they don't, believe that if they just had some more money they could 'fix' their financial problems. However, if a person has 'problems' due to an inability to manage money properly, then more money will, instead of resolving problems, only bring more problems.

Most people need more SENSE rather than more dollars.

PrincessPerky · #6 (**permalink**) 07-10-2006, 06:54 AM

No one said you had to have multiple banks, accounts or anything..until you hit the insured limit there is no requirement to get a second account, or to invest or anything..you can even still file the EZ if you don't mind giving the govt most of your money...

But Ill ditto the sense, vs money...I have the same money (roughly) now as I did 5 yuears ago before DS was born..but now I have a lot more sense...and a lot less peoblems..

Thrifty Ray · #7 (**permalink**) 07-10-2006, 07:10 AM

I think it would depend on several factors.

What are you having to do to earn the money? (Are you doing a much more stressful job, did you inherit the money...etc)

Where you are at psychologically regarding money- are you going to be spending lots more, are you in an investing mindset, are you accumulating or paying off debts?

How much more is there? Enough to payoff a few or all debts, or to be financially set for life?

I think if your dream was 'finally, bigger, better' you probably are in for problems...if your dream is to payoff what you currently have and bank the rest, you may have a little more work- but probably not the problems...if you have no plan at all....well, you probably wont have it long enough to worry about

Ima saver · #8 (**permalink**) 07-10-2006, 08:42 AM

I think I had a lot more problems when i was poor. I don't worry about it like I use to, back then.

boefixepa · #9 (**permalink**) 07-10-2006, 09:01 AM

For me the following factors come to mind.

1. No one, especially my family, can know about it. If they do then yes there will be problems galour!

2. The amount is going to make a big difference too. If it's just enough to pay off debts then it's really nice, but not an earth stattering amount of money. If it's enough to pay off the house, then time to restructure my furture plans. If it's more than that, I don't know, like a lottery I don't play so I can never win, then I'm going to other people for help on what I should do.

But I'm with those that said I'd rather have the stress and problems of wealth than poverty.

getforfree · #10 (**permalink**) 07-10-2006, 09:55 AM

I think those people who don't have money, have more problems. They worry how to pay bills or how to pay off the debt.

I have never been in debt, except the mortgage on the house.

Those who have less money are forsed to spend less, but those who have more money just do it for fun. Like me. Yes, I like to get free stuff, just because it's free. I might use it or give away, or even sell it.

I think, if I would have more money, I would have less problems, bigger house, all paid off, and do some money-wasting fun intertaiment things.

Bookie · #11 (**permalink**) 07-10-2006, 10:24 AM

There's also the comforting thought that with enough money one can always afford solutions.

Broken Arrow · #12 (**permalink**) 07-10-2006, 11:32 AM

Quote:

Originally Posted by poundwise

Most people need more SENSE rather than more dollars.

Amen!

lucasrd · #13 (**permalink**) 07-10-2006, 11:40 AM

My grandma once told me that Money doesn't buy happiness, but you'll be happier if you have money.

timl · #14 (**permalink**) 07-11-2006, 05:55 AM

This reminds me of what my upper middle class friend's mother used to say. She said "Ever notice how its always the poor people saying how unhappy the rich people are?"

sweeps · #15 (**permalink**) 07-11-2006, 06:41 AM

Quote:

Originally Posted by timl

This reminds me of what my upper middle class friend's mother used to say. She said "Ever notice how its always the poor people saying how unhappy the rich people are?"

Not in my experience. I grew up fairly poor and everyone I knew talked about how nice it must be to have all the money the rich folk on the other side of town had.

Everyone's got problems. Rich peoples' problems are just different. Here's a thought though -- the worst problems occur when people go from rich to poor or poor to rich too quickly without being prepared for it. That's probably what P Diddy was getting at anyway.
Case in point

Crystallas · #16 (**permalink**) 07-11-2006, 08:52 AM

Money isn't the problem, envy is.

Harrison · #17 (**permalink**) 07-12-2006, 08:33 AM

More money, more problems, but less money, even MORE PROBLEMS! So I prefer more money, more problems. Anyway, the final answer is how you handle and solve the problems.

more freedom · #18 (**permalink**) 07-14-2006, 02:29 AM

I don't think so.

One said I have been poor, I have been rich. Being rich is better

PrincessPerky · #19 (**permalink**) 07-14-2006, 04:10 AM

I was thinking just yesterday about how much I would need to stop 'worrying' and two things hit me.

1. I would never stop worrying, just might be able to loosen the belt a bit and

2. If I was making that much all along, I prolly never would have learned so much about being frugal...so I would be wasting more of the money, and still not relaxed. I could be making twice as much and still spending my mnths trying to 'put out fires' instead of saving and relaxing!

So for me, while I owuld love to make a bit more, I think making this little has been a good learning experience...K I learned my lesson, am I done now?

BCHGRL · #20 (**permalink**) 07-15-2006, 06:07 AM

From a rapper's perspective, wealth probably does has it own set of problems. If the rapper came from the ghetto (unlike some rappers such as Kanye West who came from a middle class family), then I'm sure there are problems such as homeys that think they are entitled to a slice of the pie.

Also, if you meet someone, whether a friend or significant other, I'm sure there always the question of are they in it for me or are they in it for my money.

Most of us on this board are financially sound, but that does not equate to the type of wealth that a celebrity would have.

I once read in Reader's Digest that money only affects happiness to a certain point. By this I mean that someone who makes $13K/year generally is less happy than someone who makes $50K/year. But someone who makes $50K/year may be just as happy as someone who makes $150K/year.