Money talk :: - saving too much?

Clement Harris asked a question: Money talk :: - saving too much?
Asked By: Clement Harris
Date created: Fri, Apr 30, 2021 7:17 PM

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🚩 Money talk :: - are you saving too much?

Money Talk > Spammer & Scammer Slammer: Author: Thread: vickywin On Probation Cash: $ Posts: 1 Joined: 09 Feb 2017 Location: texas: Are You Saving Too Much? This thread has been edited and moved here as it does not conform with the forum rules.

🚩 Are you saving too much money?

Saving too much money is certainly better than not saving enough. However, in rare circumstances — believe it or not — it might be possible to save too much money. An emergency fund that's too big

🚩 How much money should i be saving?

Did you want a simpler answer? No problem. Here's a final rule of thumb you can consider: at least 20% of your income should go towards savings. More is fine; less may mean saving longer.

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He/we put $250/wk into 401k and another $100 into the Roth. I know that saving for retirement is important, but is it possible to save too much? Especially if it causes us to shortchange ourselves now? The real kicker is the tax thing. We put our huge refunds into our down payment savings anyway each year.

They saved and lived most pleasant lives, doing pretty much whatever/whenever they wanted, paying cash for every single car and house they ever owned. They were fairly frugal on the whole. Having both been reared in large farming families, they personally never had a propensity for lavish spending.

In a recent conversation I had about preparing for the future, I was asked if it’s possible to be saving too much money. Now, I realize this a privileged question given that the majority of people are definitely not saving enough. Wondering if you’re saving too much is a great problem to have and definitely preferable to the alternative. But I do think it’s something to consider.

Being too much of a Saver is just as bad as being too much of a Spender. Everyone always talks about how spending too much money extravagantly, frivolously (by who’s standards really), and like it grows on trees is a bad thing. Yeah, I concur. Spending too much money with nothing banked and not caring about your future IS a bad thing, but how come no one ever talks about saving too much?

Saving money is awesome, don’t get me wrong. But too much of a good thing can be bad for you, and this is no different. I absolutely love saving money so I will be the first to tell you I get inspired when I read about super savers saving 30%, 40% even 50% of their income. I think that is pretty amazing, but everything comes at a cost, and that is what I want to address in this article.

Saving Too Much Money for “Something”. Maybe you’ve got your retirement savings figured out, but you’re still saving too much money for “something.”. Maybe that’s your emergency fund, maybe you’ve got a big vacation fund, maybe you’re just socking away money because “saving is good.”. And of course, that is true. It’s good to have a savings fund.

Is there such a thing as saving too much money? The answer to this is a resounding yes. While overspending is a vice and can hurt your future, saving too much is also a problem, and can hurt you ...

Yes, saving too much can hurt you. The first bit of financial advice you probably received in your life was to save as much money as possible for a rainy day.

Told Off For Saving Too Much. Millennial SG Dad Uncategorized May 14, ... It is thus a useful reminder of what I should do when I want to have money talks with those around me, and how I should also stop myself from dishing out my own versions of advice when not warranted. +++++

“Folks, lock away your money. Liberals are worried you’re saving too much. They want “ideas on how the government can act to unlock” those savings. No, Trudeau, people’s savings don’t belong to you. Keep your hands where we can see them,” Poilievre tweeted.

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