Thursday, June 6, 2013

Messages From Readers: Saving is Boring

A little condemning, but it's true. Life is so full of things to do, being bored almost seems like a crime.
I've heard a lot of common worries/criticisms/comments about personal finance and saving, and what this reader said comes up pretty often.

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"Personally, one thing that always keeps me from starting my own investments is my lack of time to research and find out all this stuff on my own.

And I also hesitate because I would rather use the money when I'm younger and have more potential and desire to go out and do things in the world...whereas, when I'm older in my 60s, I'll have less drive and desire to do those things with my money. And living in retirement money actually sounds a little boring to me...

Maybe it's just my lifestyle choice. I know I should be saving up and preparing, but I feel like its kinda preparing for the last years of my life, whereas I'd be satisfied with a meager retirement account and just spending my time doing humanitarian or volunteer work." 

-Anonymous

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Hire me to do it for you! :D Just kidding, I'm not a professional. But investing is a lot easier and less time-consuming than people think. In fact, I think that if you're doing it right, you'll spend a couple of hours putting your money somewhere, setting up an automatic transfer system, and then just leave it untouched. Your investments shouldn't be a daily chore, unless you're a pro or something. 

What prevents YOU from saving or learning to invest? I'm really curious, so let me know in the comments. 

As always, contact me with questions or suggestions! You can either comment directly on the post or send me an email to moneymattersjoan@gmail.com. 

Photo credit:  AliceNWondrlnd via photopin cc

6 comments:

  1. I saw anon's story, and I completely relate to him/her. If you're reading this, I hope you can learn from my story, because I am entirely in agreement with your thoughts and opinions:

    I've been saving for as long as I remember. In fact, I started saving the day my father gave me a check book when I was 12 and started giving me my monthly allowance. Except he never gave it to me in cash, instead, he would sit me down, have me write down the amount every month under "Debit" and whenever I wanted to spend money I would sit him down, write the amount under "Credit" and he would give me cash from his wallet.

    It's been almost ten years since, and three years ago we opened my first bank account together, and ever since I've done nearly the same thing: Instead of a monthly allowance, I earned paychecks on a biweekly basis. I put at least 60% of that amount into my savings, and I put the rest in my checking account to do as I please. I basically started saving from the get-go, and it's a habit that is just normal to me.

    I am living comfortably, and I'm only earning $10/hour 20 hours a week! Anonymous has it right, it does have to do with your choice of lifestyle. I only shop for clothes maybe once a month, I spend around $100 on groceries every month, and I go out only occasionally. When I get a raise or when it's vacation and I can work 40 hours a week, I allow myself to "upgrade" my lifestyle and go out more often :]

    I'm happy. I've saved thousands, don't plan to invest my money anytime soon (I cannot, for my life, understand investment. I hope to take classes someday but definitely when I'm older and I have more money and time), and I feel you, I've often felt like I was "missing out" when I see people make expensive trips or shopping sprees or outings/events. But I make up for those "lost" opportunities by *creating* them myself :)

    I hope this helped, I didn't want to make this a wall of text but there's a lot of ways to still have fun without spending a lot of money. There's really nothing "boring" about saving money. You have the freedom to choose your way of living, and it's you, not money, that makes it boring or exciting! :D

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    1. Thanks for your comment, Elisa! I hope you don't mind if I make a post featuring your "wall of text," it was really interesting to read about how your dad taught you to be money conscious. :)

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    2. (I guess I don't get e-mail notifications when I get replies?)

      Absolutely, please go ahead! Time truly goes hand-in-hand with money, and the earlier you start being conscious about it the better :) I am thankful that my father introduced me to money in this fashion. I only spent money when I asked for it from my dad, and he only gave it to me if and only if I had a good reason to spend money. Let me know if you need anything else from me :)

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    3. Thanks, Elisa! I really appreciate your time. :)

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  2. Part of this for me is also the issue of not knowing how I'll be when I'm 60 and retired. I feel like when I reach that age, I'll probably regret not saving as much, but another part of me thinks I could always get by. Maybe I'm just naive about the future though...

    That said, though, I do intend to start saving/investing more. If only college didn't deplete so much of my reserves D:

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    1. Haha, I don't think you're naive and I certainly think you're on the right track for even thinking about this stuff in college. Keep it up!

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