Money fears

[2moretrees]

When it comes to money, what is your biggest fear? I had a talk with a friend recently and I'm convinced that much of her debt problem is due to the fear of facing it. Instead, she just pretends that it will somehow miraculously disappear and take care of itself without any effort on her part.

Do you think fear is a big factor in most people's money problems or do you think other factors play a role?

Also, what money fears do you have? I guess I fear that I will get seriously sick and not have enought to pay for the proper treatment.

[Amy752]

Re: Money fears

The question for me should be What isn't your biggest fear when it comes to money? Seriously, I am scared of all of it. I am scared we will never get out of debt, build a savings, be able to retire, stop living paycheck to paycheck, be able to pay for future kids college education(s), be financially "stable"....... We have a lot of work to do....

[PrincessPerky]

Re: Money fears

I started out scared to face it, so long as I take it slow I am facing that fear little by little, and managing to get at least in the black this past couple of months.

My remaining fears (that I will face after I take care of the CC) are retirement and life insurance.

[PennyPincher]

Re: Money fears

I think my biggest fear, at least for now, is what will happen when I have a baby. I am almost 30, but don't have any kids. I am used to making a rather nice salary, and don't know how I will manage to feed/care for MORE people with less money. I'd like to spend more time at home, and I can't think of any (legal) part-time job that will pay close to what I earn now. I've been following the 'career path' and my world will be turned upside down financially with a baby.

But I still look forward to it...

[jmjj215]

Re: Money fears

My biggest fear is rising health care costs - a medical emergency that breaks us financially (even though we do have an emergency fund). It feels like I absolutely have no control over it, and that's kind of scary.

There are things that can/should be done to help with fear. Cash savings, no credit card debt, multiple income streams (I don't mean both spouses working when I say this), diversification of investments...but it takes a while to get those in place

[neatdesign]

Re: Money fears

Do you think fear is a big factor in most people's money problems or do you think other factors play a role?

I think fear is a big factor, but so is shame. People feel ashamed when they go into debt and can't climb out of it. It really does seem like a bottomless pit sometimes, and it can be extremely demoralizing and depressing. It makes many feel like failures because they fear people will think they're losers, deadbeats, immature, out of control... That's how I feel, anyway.

Also, what money fears do you have? I guess I fear that I will get seriously sick and not have enought to pay for the proper treatment.

I fear that my debt will keep me (and my husband) from reaching certain life goals. Having a baby. Owning a home. I love to travel, have been all over the world but have not been anywhere for nearly three years (not even locally) because we can't afford it. Worst of all is that we can't afford to go visit my husband's family in England; he hasn't been back to the UK since he arrived in the States two years ago. So I would say it's really the basic things in life that we'd like to do that we can't.

~ Jenney

[Bluezy]

Re: Money fears

My biggest money fear, being a single mum, is that an incident will leave us without food. Plain and simple. Hunger is a horrid thing and I NEVER want my little son to experience it.

Clothes on our back, full tummies and a warm, dry place to sleep are my utmost priority.

Bluezy

[PrincessPerky]

Re: Money fears

I think a lot of people are worried about affording life with kids, but we now are working on our third, and we make the exact same as we did 4 years ago when I got pregnant with my third, and we are in a better financial position (cept for the CC which is slowly going away)

Kids don't have to be that expensive, so long as you raise them not to expect stuff all the time, you would be suprised at how cheap it can be to keep them full, dry and warm. You just gotta rearange priorities so that full dry and warm beat out starbucks .

[terry1156]

Re: Money fears

I used to fear money a lot, but not near as much anymore. When yuo begin to take control of your finances and you're in control, the fear goes away a lot I think. It's when you are still working your way toward having control that the fear can be daunting.

I think fear plays a major role in people's money problems and not wanting to take the steps that need to be taken to solve them.

[jmjj215]

Re: Money fears

I think fear plays a major role in people's money problems and not wanting to take the steps that need to be taken to solve them.

On the flip side, sometimes fear can really motivate people to DO something. So I guess it's kind of a double-edged sword - fear can be debilitating or a kick in the pants!

[seaar2000]

Re: Money fears

jmjj215 I totally agree with you that fear can really motivate people to do something. I am lucky where I work as long as you use their Doctors you don't have to pay for a thing. With our dental as long as it is preventive it is paid for free. If you have to have a root canal, bridge or any constructive dental work we have to pay 50%. Before our company changed to this insurance my medical was really killing me. Thank goodness they switched over. I guess my biggest fear would be if I couldn't work for a few months how would I pay some of my bills. That is why I have an EF. If something should happen I could take out of the EF. Also, I am lucky that if something should happen I know the kids dad would help me out.

[miclason]

Re: Money fears

I'm with Bluezy, being a single mom, my biggest fear is that something might happen (loss of job, serious illness...) that might prevent me from giving my child the basics (because I know I cannot count on her dad, not even if I died!....my sister would take her in...) Second biggest fear would be to not be able to pay for a good education for her....

[Tree0164]

Re: Money fears

My biggest fear is loss of income. I call us a 1.5 income family because my earnings are variable and my DH is the money maker. He carries our health insurance benefits as well.

I could combat this fear by having a larger emergency fund sometimes the moola is not there.

Also retirement scares me. We are both contributing to retirement plans... but I always wonder will we have enough.

[srace]

Re: Money fears

My biggest fear with money is that I won't be able to get out of debt and that something will happen and I won't be able to afford to pay rent or buy food.

[jacquelynrose]

Re: Money fears

My biggest fear is that I will for the rest of my Life will be living paycheck-to-paycheck and never achieving Financial independence and getting out of the rat race.

Jacquelyn