Do You Worry About Money?

A general question for everyone: do you worry about money?  If so, why? What is it you fear?  Please give your answer in a comment.

I’ll go first.  I’m increasing less worried about money as I get older.  I used to worry a bit, but now I’ve built up a significant savings pool I’ve realized if I get laid off and I can’t find a job for a while that I will be fine.  I might consume of a large amount of my savings, but I can be out of work with no EI and still cover two years of expenses.  That’s provided a huge sleep a night factor that has reduced my old worrying habit done to nothing.

I used to fear not being able to provide for my family.  Since I’m the major income earner in the family I feel compelled to look after them.  So perhaps that is part of why I save.  I save to provide in case I can’t (yes insurance helps in some cases, but I still worried back then).

9 thoughts on “Do You Worry About Money?”

  1. Yes, I do worry about money – more so than I should. I know what my life costs to operate per month and I made some decisions when I was less knowledgeable that are a reality today.

    I know I want a career change at some point, but I feel as though I am so focused on money that I have started to sacrifice some happiness along the way.

    I am in a state of trying to find more balance now, this means retirement may slip off into the future some more – but it’s a worthwhile trade off I believe.

  2. I worry about it daily, hourly even. I’ve cut my personal expenses down to nearly nothing, but I’m supporting a family of four on essentially a single income (at least, the spouse makes some spending money . . . but not what I call an income).

    The only saving for retirement I do is through a company matched RRSP. I’ve been trying to get emergency savings set aside through the summer since we didn’t have a car, but now that the winter is coming the spouse talked me in to getting a vehicle so that will likely be back to paycheck to paycheck now that we have a car payment and insurance again.

    I’m hoping for a 50-200% raise this year, but I think I’ll fall a couple orders of magnitude short 🙂

  3. I worry about money, but more in an “Am I doing enough? What else could/should I be doing to ensure a good future for myself and my husband?” kind of way.

  4. I worry that nothing is going to change. I seem to be doing nothing but paying bills and saving for a reasonable retirement and my family is only likely to become more demanding in the future.
    I worry that I can’t do any of the fun hobbies I’d like as they cost too much and after saving all this retirement money for a lifetime there is a possibility I’ll die before I use it and will have missed out.
    I also worry like Adam that I’m starting to get interested in a career change and have no idea how I’d fund the additional education requirements and deal with the pay cut.
    I guess that’s enough worry for now.

  5. I only worry about money in the sense that I am worried I wont have enough to retire before I’m 50. My wife and I have ample funds saved to endure some kind of employment crisis in our lives. Were DINKS, live in a modest (but nice) condo apartment, don’t spend ridiculously… in fact, most people that know us wonder why we live the life we do when our combined income is around 150k. To us, not having to worry about money day to day is a wonderful way to live. And if it allows us to retire in our mid to late 40’s, all the better.

  6. Thanks for sharing everyone. It’s interesting to see what people worry about. It’s all related to money, but all completely different issues.


  7. Interesting question and responses. Yeah, I suffer from that mysterious “I will some day end up destitute and living as a baglady” thoughts that afflicts many women. Not actively to the point it affects my day to day life or anything, but it’s there.

    The little things as related to money – not so much.

  8. Was not worried about money until retirement at just enough to get by on a frugal lifestyle — then ill health struck without enough money to search for alternative medical care or long term care.

  9. I obsess about my budget to the point of being unhealthy.

    I’m 33, have a huge (to me) mortgage of over $300k, a car loan that’s at around $22k and just over $10k of credit card debt. I am desperate to pay off the credit cards asap. Having paid them off once before and allowed them to grow to an unmanageable level AGAIN, I am extremely diligent with my budget now. It is such a slippery slope. I worry about my future. We (my wife and I) have about $40k in RRSPs through my work and through an Investors Group financial planner I know, but we haven’t contributed anything beyond the $5000/yr work plan for almost a year, which really makes me concerned. We have a decent combined income (about $6000/month after taxes), but even with paying $1200/month on the credit cards we are looking at almost a year to pay them off. That combined with the $400/month car payment and $1500/month mortgage works out to over 50% of our income going to debt repayment. The light at the end of the tunnel will be the credit cards gone. I hope to breathe easier.

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