I worry a lot when my savings account (offset linked to mortgage) dips below a certain $$ level. Do you try and change your spending habits to make sure it goes back above your "safe" amount ? Or is having money in savings not a big deal to you ?
Do you get worried when your savings account gets below a certain amount?
ELH05 on 03/09/2015 - 15:04
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turfed 40% of my savings into shares in april, now down 17% - want to average down in this current climate but the savings in the account is a great buffer from any further catastrophe.
i do also get addicted to seeing $100+ interest earned at the end of the month but with the shares that is now lower.Yes actually that is another good way of putting it - I am probably "addicted" to seeing the balance !
My only real flag for me is when my pay goes in and it is not enough to pay off my Credit Card for that fortnight. Spend > income = Bad.
What do you do then? Sell off some of the ozbargains for cash to JV?
It never really bothered me before because I knew we would find a way to make ends meet. Now that I'm on my own, its scary to watch my savings melt away:(
When it gets below 6 digits i get a bit worried.
tbh nah, don't spend that much to worry about savings. The net result is significantly more goes in than comes out.
I am a frugal saver, but with inflation outstripping interest rates I'm having a bit of a personal crisis — I'm having trouble justifying saving when my money is worth more if I spend it today
Personally I do get worried as well. Not trying to be paranoid here, but sometimes life has unexpected moments such as accidents. Thus I like to keep a certain amount for emergency.
I used to want to have minimum $100 in interest paid into my account from my savings but that changed after a big spend for a car…
Now I've started doing expenses and its worrying knowing I'll need to work back up to that amount.