Moneypersonalfinance

Tue May 13, 2014, 08:02 PM

I am great at math, but horrible at $$ stuff beyond calculating tips.....

my brain shuts off! The best I can do is scan my credit card and bank statement and think- yes, that was me, I did that, okay, etc etc. Hate thinking about it. Always have. Never balanced a check book once.

Is there a cure for this?

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Reply I am great at math, but horrible at $$ stuff beyond calculating tips..... (Original post)
NSFW May 2014 OP
Myriel May 2014 #1
NSFW May 2014 #4
Myriel May 2014 #5
NSFW May 2014 #8
Discussionist 101 May 2014 #2
NSFW May 2014 #6
liberalguy May 2014 #13
fools_gold May 2014 #14
NSFW May 2014 #15
reticle May 2014 #16
stygmata May 2014 #3
NSFW May 2014 #7
In The Mood May 2014 #9
fools_gold May 2014 #12
DocDocGoose May 2014 #10
762Justice May 2014 #11

Response to NSFW (Original post)

Tue May 13, 2014, 08:07 PM

1. I can empathize

When I was younger, money made me very nervous. I hated opening bills. I hated looking at my finances. I'm not sure why. The whole thing made me so nervous that I was sometimes late in making payments for no reason other than I avoided paying them out of fear.

Eventually, I matured and the problem faded. I think the thing that helped the most was getting religious about keeping on top of things. I started using money management programs almost daily. After a while, I got more comfortable.

The other thing that helped a lot was having a financial cushion. With an extra month's worth of expenses in the bank, I was confident that could pay all my bills, so they didn't scare me quite as much. I know it sounds stupid, but they still scared me some because now I was afraid that I might dip into my financial cushion.

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Response to Myriel (Reply #1)

Tue May 13, 2014, 08:25 PM

4. Yeah, it goes back to the living hand to mouth days...... What programs do you like?

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Response to NSFW (Reply #4)

Tue May 13, 2014, 08:28 PM

5. I use Quicken...

...but most people I know use online services like Mint.

My preference for Quicken is that I've swung from being so nervous about money that I was afraid to look at it all to the opposite extreme. Now I track it obsessively so that I have a feeling of mastery/control over it. I download updates every couple of days so that I can easily see where I stand. Then I go back about once a quarter and make sure that everything ties out.

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Response to Myriel (Reply #5)

Tue May 13, 2014, 08:40 PM

8. interesting- I could see that happening to me too. Tried Quicken ages ago....

will have to look at Mint and other online and figure it out.

Thank you!

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Response to NSFW (Original post)

Tue May 13, 2014, 08:08 PM

2. Hmm... bankruptcy?

(just kidding. that won't be a cure but it may be a result)

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Response to Discussionist 101 (Reply #2)

Tue May 13, 2014, 08:29 PM

6. my life goal is to spend every penny I have and then some on my way out of this life!

I am going to go on a last binge when I become nursing home material, go to Tahiti or something similar and have one last big blast on my way out. Then I will just disappear, with no property and no heirs. Let them try and get my nephews pay that last Visa bill, becuase they won't find me- heh heh.

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Response to NSFW (Reply #6)

Sun May 18, 2014, 08:16 PM

13. I never understood the phobia about "dying penniless"

 

The dying part always bothered me worse.

I want the last $20 to be spent on flowers.

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Response to NSFW (Reply #6)

Sun May 18, 2014, 10:58 PM

14. I find that rather like financial fraud

but if you are OK with it , then, well, you just showed your ethics.

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Response to fools_gold (Reply #14)

Tue May 20, 2014, 12:59 AM

15. Meh, if Chase loses a grand gambling on me when I am (hopefully) 80+ years old...

I am not going to feel so very bad for them. Especially since I will be dead at that point.

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Response to NSFW (Reply #6)

Tue May 20, 2014, 09:24 PM

16. Lots of folks..

.... apparently share your attitude and what happens usually is that they have more life than money. So they spend their final years not indulging in a trip to Tahiti but trying to live on cat food. Hard to feel a lot of sympathy for them, sorry.

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Response to NSFW (Original post)

Tue May 13, 2014, 08:10 PM

3. Quicken helped me

I'm the same way as you and used to get into financial trouble trying to keep track of things in my head. Started using Quicken many years ago and it helps to keep me honest. Takes some discipline to get used to it but for me it paid off.

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Response to stygmata (Reply #3)

Tue May 13, 2014, 08:30 PM

7. thank you! I need to do this soon.

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Response to NSFW (Original post)

Wed May 14, 2014, 02:05 PM

9. Another vote for Quicken.

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Response to In The Mood (Reply #9)

Sun May 18, 2014, 07:12 PM

12. + another vote.

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Response to NSFW (Original post)

Wed May 14, 2014, 10:45 PM

10. Personal Finance is about 10% Math and 90% Behavior.

And I probably give math too much credit because I was a math minor in college.

A budget is absolutely vital to winning with money. I use Mint because its free and has a pretty handy phone app.

I would also suggest Dave Ramsey's "Total Money Makeover." It's probably the most accessible personal finance book out there.

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Response to NSFW (Original post)

Sun May 18, 2014, 06:01 PM

11. Mint

is a decent way to start getting a look at where your money goes. I am not sure if we can link, but it is pretty darn good for people that do not really want to spend much time doing the books.

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