So for several years I’ve had my s**t together enough to hold down a job paying good money. It’s been dicey at times, but I seem to be handling the work stress OK, and it’s a very stressful job. But despite the vastly improved cashflow, finances are still a big challenge for me. I grew up poor and never learned how to manage money. In fact I learned that money was the ‘root of all evil’ and was to be given away to the church. Or at least that’s what my mother did (you guessed it, also Sz.)
So some of my big challenges are controlling impulse buys, saving for retirement and budgeting. The impulse buys are usually small things, like fast food, but they add up fast. And there is the occasional computer or electronic gadget. And the foresight and planning required for retirement and budgeting really seem beyond me. Any thoughts or suggestions on how to whip myself into shape financially?
There are probably people you could talk to about how to make a budget. Friends or family? I have an older sister who’s responsible and I would ask if I needed help with a budget
Right now I’m saving a little shy of 5% of net income. I’ve also recently bought a car and house, so, yeah not a lot of room to increase my savings. (Sometimes I wish I could ‘simplify’ and live like a monk, but the gf is not having it.) Retirement is only 15 - 20 years off though, so not a lot of time to save.
One thing I really wish I could get a handle on is impulse spending. Like I said it’s usually not big ticket items, but little stuff like fast food and the occasional gadget, video game, or computer accessory. Sometimes I’ve just got to have a sausage and egg biscuit, or just don’t have the energy/desire to cook.