Spending what you have saved for

[knavy]

Do you ever have trouble spending the money you saved for something specific? I know this sounds silly but I have a fear that I'll never take the big vacation I'm saving for because I won't want to part with what I've saved for it.

[AAM2012]

Yes, although vacations aren't something I have problems spending money on. We've saved for other home improvements (wants rather than a need) and in the end we end up just moving that money into investment or something else more exciting (i.e. vacations).

[illgetthere]

I do at times, but that just means I didn't want it THAT MUCH when it came down to it. H is the spender in our relationship, so he makes sure we have some fun while I make sure we can pay a car repair bill if needed. One thing I had to learn is to enjoy every bit of a vacation no matter cost if we can afford it. Even a small trip 3 hours away, if I want to do something there, I will buy the tickets or else I'll regret it after the fact and not want to pay for the whole trip again to do the one thing.

[monsterz]

I love spending money so I have no problem spending for a specific item

The more honest answer, we have 2 savings buckets one for short term things like home improvement projects and vacations, this money gets spent very quickly and easily and is a standard savings account. We also have investments that are savings for "something" in the future those I have a harder time spending. I've used them in the past for a house down payment or a new car but it has to be something big for me to part with it. I also won't part with all of the savings I have to have a buffer. If we needed $100K for a downpayment and we only had $100K saved we would save until there was more than $100K.

[shaynaatl]

As long as we hit our financial goals, we have no problem spending on something like vacations, which are proven to improve your happiness level.

[msmerymac]

Sometimes. We have the vacation fund with money specifically FOR our vacation, so I don't know why, but I'm okay spending that. Maybe because I already booked it and now just have to finish paying for it! Same with taxes. Ugh. Obviously I have to spend the money I save for that.

But things like pet grooming/boarding/supplies/vet visits, which I save for monthly in a separate account, I'd rather cash flow. Same with minor car repairs, minor home decor/improvements, etc. Something BIG like a kitchen reno, I think I'd love to be able to spend money on. But things like a new light fixture or book case and I'm like, "Errr, why don't we just not go out to eat this month."

[imojoebunny]

Yes! I have this problem often. Money in the bank and having options makes me a happy person. I am married to someone who actually enjoys spending money on things he saves for. It's not a bad thing.

[hopenotlost]

Yep, we saved up money for a new huge swing set for our girls, and I wanted to throw up when I ordered it online. I like seeing the $ in our account...when it decreases, even though I know that we had saved and meant to spend the money, it makes me a little sad. It makes me work even harder to save up that money again though.

[tripleshot]

I don't have that problem. I just dropped $2000 on patio furniture and will spend $5500 next week for a new patio. It feels good to be able to pay cash for something big knowing you worked really hard to save it in the first place.

[Deleted]

Nope. Dh does, but I can usually convince him. He wrote a 3k deposit check for our new windows today!

[Deleted]

It depends. Usually we're just saving to save ... for that rainy day. So when that day comes -- like it did last month when our master bathroom flooded our dining room, prompting us to finally pull the trigger on that renovation project we'd been putting off -- it kind of pained me to spend cash on that project even though we had the funds. It wasn't how I wanted to spend the money, even though I felt fortunate to have it.

I probably would have been more comfortable dipping into our savings for vacation ... of course, there's a difference between $10k for vacation and $20k+ for a renovation.

[crashgizmo]

Yeah I'm really bad at this. Even when we saved for our new car, I was hesitant to write the check.

[sillygoosegirl]

Yeah, we have this problem. I mean, in theory it should be no problem, but in real life we really hate parting with our money. Even if we always planned to spend it on such and so.

I'm afraid we won't actually retire. We're on track to retire early, but I'm afraid we won't because we won't want to spend our savings (or even just the earnings on our savings).

[flatlan]

No, I am actually fine with spending money that we saved for something specific. I think that I am proud of us for being responsible and having the money set aside that it makes it easier.

[Deleted]

No, but my husband does. I actually don't think he really understands the concept of saving. I think he thinks money we put aside as savings is never to be touched, ever, when some of it is supposed to go towards vacations and anything else that is larger than our normal monthly expenditures and not payable from our monthly cash flow.

[cajunmom]

I used to have a problem spending what we saved, but that was when we only had one general savings account. Now that I have separate accounts for things like vacations and car repairs, it's easier.

[heliocentric]

Yes. We have separate accounts for large purchases, but I still feel anxious when I see the balance go down. It makes no sense, really. Although, for really big things like our planned kitchen reno, I know I'll feel upset about the money even though I really want a new kitchen. It took us 10 years to save that money (since we had other things to save for, too) and knowing it could take another 10 years to save it again freaks me out.

[changedname]

Apr 15, 2014 17:34:42 GMT -5 imojoebunny said:

Yes! I have this problem often. Money in the bank and having options makes me a happy person. I am married to someone who actually enjoys spending money on things he saves for. It's not a bad thing.

me too. I like seeing $$ in the bank and knowing I have a safety net. DH likes to spend as soon as we have $$ (new bed/mattress are next on his list).

[nessness]

I definitely have that problem. We were all set to start our kitchen remodel, but then I got pregnant and freaked about spending so much money, so we're putting it off for a year or two, even though it will be harder with a baby.

[gt7301b]

I don't have a problem with paying for vacations, some of that isprobably because the costs are usually spread out over a couple months.

I did have second thoughts after we bought our new car, I didn't sleep at all the night we bought it.

[sproutmd]

The only time I've had a hard time spending what we saved was when I had to get the check for the down payment on our house. Ugh.

[CallingAllAngels]

I'm having this issue right now with the money we have saved for our kitchen remodel.

[winnied]

We just went the the biggest vacation of either of our lives a few weeks ago and it's weird knowing that a) we saved enough for it and then b) went and spent it. We actually now have a feeling, well now what? Due to vacation days and H's work we won't take a vacation like that for probably a few years so saving up for that isn't a plan.

[teatimefor2]

I typically don't have an issue with it, but I hate tapping into our e-fund even for a legitimate emergency- unexpected death and need to travel, etc. but our vacation fund is suppose to be spent!

[thumper55]

I grew up in poverty, and I have adopted my mother's  frugality.

Even though I'm not hurting for money now, I often feel scared to spend money.  I have to hoard it  "just in case".

If there is something I really need or want, I'll eventually take the financial bullet, but it will take me awhile to warm up to it.

Case in point: We were supposed to get our landscaping done 6 years ago. We are finally going to do it this year.

[jene]

Since we started separating accounts for specific items, I have no issue with it