May 21, 2010, 5:00 am

Bloggers and Their Relationship with Money

by: The Financial Blogger    Category: Personal Finance
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After reading about my own relationship with money, I wanted to do a quick roundup around the blogosphere to know how bloggers see money. Here are the answers I got:

Kyle @ Amateur Asset Allocator

I’m pretty indifferent to money, and I find myself caring less and less about it as I get older. I used to be cheap, but now I’ve begun to realize I can get much more accomplished if I focus on what I’m good at and pay somebody to do the rest. Life is much more enjoyable when you don’t have to take a day off work to paint. As for how I deal with money, I save a fixed percentage of income in my 401k, max out my Roth, and save as much of the rest as I can in taxable accounts. If I don’t manage to save much extra in any given month for whatever reason, I don’t sweat it. Since I have an overly-large emergency fund and a few alternative sources of income, I’m pretty secure in my financial life at the moment. If I had less money, I might care about it a lot more.

Mike @ Money Smarts Blog (aka Four Pillars)

I love money. The more the better.

I think that if you don’t have enough money to do the basic things you want then that can create unhappiness. Of course there are limits – I would love a Ferrari but I doubt that owning one would make me happier.

I’m happier when I am financially secure compared to when I don’t have enough money which can be stressful.

Craig @ Free From Broke

Money and I dated for a while, and like many new relationships I was totally enamored. Money didn’t really care though so I tried to do what I could to get Money’s attention, like buy all sorts of stuff. That never works in a relationship though, does it? It just left me in a whole lot of debt.

So Money and I had a falling out of sorts. I still always thought about it but it reminded me of all the pain I went through. Yeah, I even resented it a bit.

We’ve reconciled somewhat, and agreed to be friends. I’ll always need Money and Money always wants to be spent. We have a mutual thing going on where we acknowledge each other but I try to not go crazy about it anymore. Money is important in my life, but its not my entire life.

Phil @ PT Money

I currently have a healthy obsession with my money. Not necessarily spending it. I’m more concerned about controlling it. Making it do what I want it to. There are times though when I get burnt out on the relationship. I check out and try and forget about money for a while. Then, a few days later I’m back in the drivers seat telling money what to do. This on / off thing seems to work well for me and my money.

Peter @ Bible Money Matters

I have of a wary attitude towards money. I’m not particularly obsessed with it, and I don’t think I love it, but I do know that I have to be careful about it, and pay attention to it. I have realized in the last few years that if I don’t pay attention to it, and tell it what to do, it will quickly disappear, never to return. I enjoy talking about money, and learning more about how to use money as a tool, and growing my money to use towards a variety of ends. In the end I hope to be able to have enough money to do the things I love more, and to be able to give generously to others.

Ruth @ Mrs. Micah

Money makes me sad because we owe a lot of it. I’m not scared because I’m pretty sure we can pay it off, but some days the math makes me feel sad because we’ll be paying it off for a while.

Madison @ My Dollar Plan

My relationship with money has changed dramatically since we switched from accumulating money to spending it. I still have a lot of the same habits, but I feel differently now about spending. It’s taken some time to adjust. I also keep a very close eye on how our children portray our spending and try to show them whenever I can the value of money and how hard we had to work to earn it. I want them to grow up with a hard work ethic and learn how to use money as a tool.

Jeff @ Good Financial Cents

I have a unique relationship with money in that I help other people manage their own and all the emotional aspects that come with it. In my position, I have the advantage of hearing all the great financial successes that my clients have experienced and all the shortfalls. Hearing those stories has helped better my own financial situation as well as being able to pass those valuable lessons on to others.

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Comments

I see money as a tool. Wealth takes many forms… it can be material possessions, but it also takes the form of relationships, networks, experiences… to me, I would like to use money to increase the rewards I can reap later.

Like you, I know that our lives will be happier if we can spend more time with the kids (when they come), and I also know that we will be happier if we are not slaves to our jobs. I like working; I don’t actually want to “retire” early, but I do want to do work for the sake of doing something that I enjoy and something that can help others as well, rather than working merely to get a paycheck.

@Kevin
Well said. I don’t want to retire early either but I want the ability to say no to the 9 to 5 requirements or at least have the ability to take extended time away.

Money can definitely open up opportunities to have new experiences (traveling, music, education and others) which can bring happiness.

How funny, I am currently having a FB discussion about why people fear money and/or their frustrations with their journey towards debt-freedom. And then I see a RT from FreeFromBroke with your link. Must be kismet! 😉

These are some great comments! I’m with you, Ruth. Lots of it and it take so darn long to see it gone! And it can be hard to keep the motivation to keep going on the right path. But I know it will be worth it. Keep it up!

[…] Bloggers and Their Relationship with Money […]

I love money. It makes me feel safe and less stressed.

I had zero money growing up, and I am afraid I will always feel like I don’t have enough. I never want my kids to feel like I did when I was younger because being poor completely shaped who I was I don’t want money, or lack thereof, to define my children in any way. I want them to save money, and understand its power, but not worry about it at a young age. I have always had a relationship with money, and it was not always good!

I save and I spend because I also want to live. Money doesn’t buy me happiness, but it buys me security.

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