I became interested in money at a very young age. When I was little I remember watching my father roll coins into those stiff paper tubes. He kept his coins in an old cheese curls can and I remember how excited I would get when he pulled the can out of the closet to begin his counting process. When I was old enough to count he would let me create little piles of coins equaling fifty cents or one dollar depending on what type of coin he was rolling.
Wednesday 15th of February 2012
I think I am more the type of person who need a goal. But teh goal can be to reach a net worth of US$100.000 which is not a goal of spending the money on something in particular.
Tuesday 14th of February 2012
Boy, am I the only one who is wondering what your brother's financial behavior is like as an adult?? Please write a companion post on this!
My brother was the keep-it-til-it-rots type. His room was full of moldy candy squirreled away from Thanksgiving and Christmas. In the meantime, he wanted me to share my candy with him!
But we were both raised to be frugal. I will save up for a goal -- but we'll also take one of those 'take a year to pay' promotions. And we'll deliberately schedule payments so we don't owe an extra cent at the end. Works just as well, provided you make the payments.
Latest post: http://www.myretirementblog.com/how-much-do-i-really-need-to-retire.html
Monday 13th of February 2012
this is so true!I find that when we have no goal we end up getting nowhere fast. We "had the goal" to just save as much money as possible and spend as little as possible for 3 months at the end of last year and we ended up doing worse than we normally do. Now we are refocused and have a specific goal we are working towards (braces for my daughter) that we are making great progress on.
Monday 30th of January 2012
@ Little Miss Moneybags - I agree with watching that balance grow!
@Mariza - I guess I could say that I have a similar goal. The goal of watching my total grow to a specific number.
Sunday 29th of January 2012
How wonderful! I hope my daughters are like you when they grow up! I always saved with a goal in mind. My goal was what I wanted to buy with it.Now I have a goal of the amount of money that I want to have in the bank, but just to see that amount, not to really spend it. I don't have anything I feel I need to buy. I just want to see that number. After I get to that number, then I'll decide if I keep going or if I do something with it.