Why do I NOW feel so anxious about money?

[wolfy1988]

Hi

Don't know if this is the right section to post but wondered if you could help me out....

For the past few couple of years my partner and I have been on an average combined salary of no greater than 30k pa.

In the past 6 months of so, things have come together and we're on a combined salary of 75k before bonuses etc BUT I have never before been so anxious and constantly worried as I am now.

This is ridiculous my girlfriend assures me.

Our out going are 2k a month which leaves about 2.5k left over but STILL the worrie as it doesn't feel alot even though before, we had Zero margin and I was care-free

We both have permanent roles and my OH is set to earn alot more, likely to take our earnigs just shy of 100k

Any ideas to help me get over this?

Edit to add: We have no debt or dependents

Edited by wolfy1988 on Thursday 18th July 20:37

[LHRFlightman]

What do you stand to lose if you lose your income? If its your home, pay it off ASAP and hopefully your anxiety will disappear, as it probably will with time anyway.

Good luck.

[VinceFox]

I know this feeling. In last few years had fair windfall which ive kept as savings and my salary has grown to more than cover a comfortable standard of living. Ive got a job i enjoy and no dependents. I worry more now than i did when my arse was rit on it.

Weird isnt it? I totally know the feeling the OP is describing.

[scottri]

I feel a bit like that too, I think this is because when i didnt have much cash i adopted the fk it attitude. When things are more comfortable there is more a fear of losing what you have. Your outgoings are likely to increase with earnings and become more dependant on higher salaries - then and start to worry about house/mortgage/redundancy etc.

My plan is to start and build some savings/over pay mortgage/invest some cash.

Edited by scottri on Thursday 18th July 21:18

[paolow]

coyft said:

Perhaps it's because you now have something to lose, whereas before you didn't?

Exactly this. At Paolow Towers we are in a very similar situation and I have put it down to this:
Beforehand our outgoings were such that we could still live where we are even if one of us lost our job as there are plenty of other semi-skilled jobs available as a starting point that will keep us afloat. When you are in 'higher' territory EVERYTHING gets more expensive unless you have an iron will. A more expensive place, pricier cars - the list goes on. When one of you has an issue at work it all becomes unaffordable instantly and you are in all kinds of trouble. Sadly I have not thus far come up with a solution to the uneasy feeling

[VinceFox]

swerni said:

It's actually quite easy to deal with.
First thing is to assume you aren't worth it and at some point someone will realise this and stop paying it to you.
Them ensure you save enough for that day and you can thank them for all the cash and easily accept a lower income but with a nice bank balance.

This may sound flippant but often ask our reps what they think they are worth in the real world and not in the bubble they work in. It's usually about 20% of what they actually earn. My advise is always keep banking the cheques, keep smiling and build a nice nest egg just in case

Good advice.

[wolfy1988]

Nice to know I'm not he only one who feels like this. I really was expecting to be shot down in flames, funny thing about PH, you never really know....

One thing thing terrifies me, is something a manager said to me years ago, 'It doesn't matter how much money you have, your never any better off' - This scares the hell out of me!

[wolfy1988]

paolow said:

Exactly this. At Paolow Towers we are in a very similar situation and I have put it down to this:
Beforehand our outgoings were such that we could still live where we are even if one of us lost our job as there are plenty of other semi-skilled jobs available as a starting point that will keep us afloat. When you are in 'higher' territory EVERYTHING gets more expensive unless you have an iron will. A more expensive place, pricier cars - the list goes on. When one of you has an issue at work it all becomes unaffordable instantly and you are in all kinds of trouble. Sadly I have not thus far come up with a solution to the uneasy feeling

Yes, its quite daunting to feel that if anything goes wrong (it usually does in my case) you really are up st creak without a paddle!

I think the most sensible thing to carry on doing, as a few of you have suggested is 'Save', we're putting away 1k a month atm and anything extra that is left over.

In a way, I'm relieved that I feel this way now as a few years ago,I would have gone out and spanked it on everything I ever wanted, Watches, Cars, Tech etc and basically if I only had £5,I would try my hardest to spend £6.

Maybe I'm growing up??

[scottri]

wolfy1988 said:

One thing thing terrifies me, is something a manager said to me years ago, 'It doesn't matter how much money you have, your never any better off' - This scares the hell out of me!

That's well within your control though. Don't let your costs rise as fast as your income and you'll always have more money. Then chuck the excess in savings. Easier said that done though - the temptation is always to get a bigger and better house, car, toys, sky package etc. If I went back to the salary I was on 8 years ago i'd struggle to cover my my current direct debts.