Why do people love spending money?
Discussion
I'm not sure if its an addiction or just a love of it or maybe its a bit of both but why do certain people spend money like its going out of fashion but never seem to have anything to show for it?
My business partner is one such person, because we have a joint business account I get to see what he spends. I know its absolutely f
k all to do with me and he has told me so on many occasions but as soon as we get any sort of payment in he has already found something to spend it on. He must have 30 or 40 pairs of expensive trainers but struggles to pay the mortgage every month and on the day its due he is usually tear arsing about all day trying to find the money to get in the bank before 3PM.
He has taken his family to see relatives in Ireland this morning (think piss pot caravan type of relatives) for a week and already £500 has disappeared from the business account despite everything being shut down over there yet he was talking of maybe being able to just about buy a new front door he has wanted for a while.
I think he is a type of person that thinks tomorrow will never come and he has catch phrases like life's not a rehearsal and such like, I know life is for living but is there any need to blow every penny the nanosecond you get hold of it?
Like I say its fk all to do with me and I can't do anything about it but I have to work with someone who is miserable when they are skint.
My business partner is one such person, because we have a joint business account I get to see what he spends. I know its absolutely f
k all to do with me and he has told me so on many occasions but as soon as we get any sort of payment in he has already found something to spend it on. He must have 30 or 40 pairs of expensive trainers but struggles to pay the mortgage every month and on the day its due he is usually tear arsing about all day trying to find the money to get in the bank before 3PM.He has taken his family to see relatives in Ireland this morning (think piss pot caravan type of relatives) for a week and already £500 has disappeared from the business account despite everything being shut down over there yet he was talking of maybe being able to just about buy a new front door he has wanted for a while.
I think he is a type of person that thinks tomorrow will never come and he has catch phrases like life's not a rehearsal and such like, I know life is for living but is there any need to blow every penny the nanosecond you get hold of it?
Like I say its f
k all to do with me and I can't do anything about it but I have to work with someone who is miserable when they are skint.A friend and her ex partner were the same, the full amount was revealed when they broke up.
He managed the finances but she was just as bad.
Over £30k in debt, rented house, rented furniture, second hand white goods, clapped out car - they didn't even have nice clothes or holidays. Simply wasted money.
He managed the finances but she was just as bad.
Over £30k in debt, rented house, rented furniture, second hand white goods, clapped out car - they didn't even have nice clothes or holidays. Simply wasted money.
If it is joint business and assuming that you are both equal directors / partners then it has everything to do with you.
Why is he spending money on himself from your business account? I assume that you both take a salary and then dividends or a profit share?
He should be spending his own money from his own private account.
I hope that your business is profitable enough to allow this kind of behaviour
Why is he spending money on himself from your business account? I assume that you both take a salary and then dividends or a profit share?
He should be spending his own money from his own private account.
I hope that your business is profitable enough to allow this kind of behaviour
FlopperV60 said:
If it is joint business and assuming that you are both equal directors / partners then it has everything to do with you.
Why is he spending money on himself from your business account? I assume that you both take a salary and then dividends or a profit share?
He should be spending his own money from his own private account.
I hope that your business is profitable enough to allow this kind of behaviour
Its just a partnership so we tend to leave most of our money in there to make sure all the business costs are paid for like the van payments and such like and just take out what we need up to what we both have in there, he does stop when he spends his half though but if I didn't go bananas at him he would probably clear the lot.Why is he spending money on himself from your business account? I assume that you both take a salary and then dividends or a profit share?
He should be spending his own money from his own private account.
I hope that your business is profitable enough to allow this kind of behaviour
2 GKC said:
Are you not talking about half the population here?
Maybe, do most people have 30 or 40 pairs of trainers?, its not like he has credit card debts or anything like that (apart from a mortgage) he just spends spend spends. I just don't understand why you would wan't to live with the hassle of desperately hunting for the mortgage money every month.scottyp123 said:
I'm not sure if its an addiction or just a love of it or maybe its a bit of both but why do certain people spend money like its going out of fashion but never seem to have anything to show for it?
My business partner is one such person, because we have a joint business account I get to see what he spends. I know its absolutely fk all to do with me and he has told me so on many occasions but as soon as we get any sort of payment in he has already found something to spend it on. He must have 30 or 40 pairs of expensive trainers but struggles to pay the mortgage every month and on the day its due he is usually tear arsing about all day trying to find the money to get in the bank before 3PM.
He has taken his family to see relatives in Ireland this morning (think piss pot caravan type of relatives) for a week and already £500 has disappeared from the business account despite everything being shut down over there yet he was talking of maybe being able to just about buy a new front door he has wanted for a while.
I think he is a type of person that thinks tomorrow will never come and he has catch phrases like life's not a rehearsal and such like, I know life is for living but is there any need to blow every penny the nanosecond you get hold of it?
Like I say its fk all to do with me and I can't do anything about it but I have to work with someone who is miserable when they are skint.
I’m sure your accountant loves him My business partner is one such person, because we have a joint business account I get to see what he spends. I know its absolutely f
k all to do with me and he has told me so on many occasions but as soon as we get any sort of payment in he has already found something to spend it on. He must have 30 or 40 pairs of expensive trainers but struggles to pay the mortgage every month and on the day its due he is usually tear arsing about all day trying to find the money to get in the bank before 3PM.He has taken his family to see relatives in Ireland this morning (think piss pot caravan type of relatives) for a week and already £500 has disappeared from the business account despite everything being shut down over there yet he was talking of maybe being able to just about buy a new front door he has wanted for a while.
I think he is a type of person that thinks tomorrow will never come and he has catch phrases like life's not a rehearsal and such like, I know life is for living but is there any need to blow every penny the nanosecond you get hold of it?
Like I say its f
k all to do with me and I can't do anything about it but I have to work with someone who is miserable when they are skint.
chml said:
I’m sure your accountant loves him
I do the books and its an absolute fking nightmare trying to find out what payments coming out of the bank are for what, I'll come across as a payment with some obscure name thinking its for some materials we bought a few days ago and it turns out its a weird on-line clothing shop of some sort.You mentioned addiction
That’s how it is for a lot of people. They just “Have” to spend
It’s not something they need, they’ve probably already got something ostensibly the same.
But they have to spend on something, anything.
Women are the worst.
If you go out for the day £50 will go on pretty much nothing. Coffee and cake, a lipstick, a magazine, a sandwich, a pair of mittens.
Just stuff!
I suffer from it as well but to a lesser degree and console myself that what I buy is well considered and has value.
I’m currently looking at a boat! I’ve had two boats, one sank the other I left to rot.
It’s an addiction. Gives you a high. It’s never ending as there’s always a newer model, type or thing.
During lockdown a lot of houses round my way (SW London) have been clearing out. Boxes of stuff on the drive you can just rummage through. Books, games, DVDs, toys. All immaculate, a lot still in sale packages. I think people may be endeavouring to simplify and streamline.
There’s gonna be less shopping.
That’s how it is for a lot of people. They just “Have” to spend
It’s not something they need, they’ve probably already got something ostensibly the same.
But they have to spend on something, anything.
Women are the worst.
If you go out for the day £50 will go on pretty much nothing. Coffee and cake, a lipstick, a magazine, a sandwich, a pair of mittens.
Just stuff!
I suffer from it as well but to a lesser degree and console myself that what I buy is well considered and has value.
I’m currently looking at a boat! I’ve had two boats, one sank the other I left to rot.
It’s an addiction. Gives you a high. It’s never ending as there’s always a newer model, type or thing.
During lockdown a lot of houses round my way (SW London) have been clearing out. Boxes of stuff on the drive you can just rummage through. Books, games, DVDs, toys. All immaculate, a lot still in sale packages. I think people may be endeavouring to simplify and streamline.
There’s gonna be less shopping.
It’s almost as though some people don’t actually like having money as they simply can’t get rid of it quickly enough. Like there’s some compulsion to immediate exchange money for things.
I’ve known people to successfully apply for a credit card with, say, a £5k limit and mentally view that £5k as cash burning a hole in their pocket and spend it within weeks.
I find it all quite strange but there seems to be a surprising percentage of the population like this.
I’ve known people to successfully apply for a credit card with, say, a £5k limit and mentally view that £5k as cash burning a hole in their pocket and spend it within weeks.
I find it all quite strange but there seems to be a surprising percentage of the population like this.
I don’t see the problem. It’s his half, he’s entitled to do what he wants with it and he’s right it isn’t any of your business.
I personally don’t see the point in saving, I’m 37 and have had quite a few friends and colleagues (and 2 business partners) pass away through illness and suicide and life is just too short - don’t get me wrong I’m not scrabbling to put anything but that’s not the point.
Some people are spend-a-holics and it is a recognised condition but he isn’t harming anyone at all and isn’t even in debt for it!
I personally don’t see the point in saving, I’m 37 and have had quite a few friends and colleagues (and 2 business partners) pass away through illness and suicide and life is just too short - don’t get me wrong I’m not scrabbling to put anything but that’s not the point.
Some people are spend-a-holics and it is a recognised condition but he isn’t harming anyone at all and isn’t even in debt for it!
scottyp123 said:
I do the books and its an absolute fking nightmare trying to find out what payments coming out of the bank are for what, I'll come across as a payment with some obscure name thinking its for some materials we bought a few days ago and it turns out its a weird on-line clothing shop of some sort.
It sounds like a potential disaster for your company (you). Is your company pretending to be buying these things? king nightmare trying to find out what payments coming out of the bank are for what, I'll come across as a payment with some obscure name thinking its for some materials we bought a few days ago and it turns out its a weird on-line clothing shop of some sort.red_slr said:
I would set up a pay day each week / month rather than taking it out at random.
Trouble is nothing is regular, we went two months without anything going into the bank and then nearly 10k went in in 2 days from 3 jobs recently finished. He did get the self employed grant off the government which he sensibly spent on new windows and internal doors though but spent the rest of his money on ste.scottyp123 said:
I just don't understand why you would wan't to live with the hassle of desperately hunting for the mortgage money every month.
Me neither. Paying the mortgage and bills first makes more sense to me. I would be concerned about having a business partner with such a different approach to finance.
MC Bodge said:
scottyp123 said:
I do the books and its an absolute fking nightmare trying to find out what payments coming out of the bank are for what, I'll come across as a payment with some obscure name thinking its for some materials we bought a few days ago and it turns out its a weird on-line clothing shop of some sort.
It sounds like a potential disaster for your company (you). Is your company pretending to be buying these things? king nightmare trying to find out what payments coming out of the bank are for what, I'll come across as a payment with some obscure name thinking its for some materials we bought a few days ago and it turns out its a weird on-line clothing shop of some sort.To be fair we are only small time and 30 minutes each night sorts the books out.
scottyp123 said:
MC Bodge said:
scottyp123 said:
I do the books and its an absolute fking nightmare trying to find out what payments coming out of the bank are for what, I'll come across as a payment with some obscure name thinking its for some materials we bought a few days ago and it turns out its a weird on-line clothing shop of some sort.
It sounds like a potential disaster for your company (you). Is your company pretending to be buying these things? king nightmare trying to find out what payments coming out of the bank are for what, I'll come across as a payment with some obscure name thinking its for some materials we bought a few days ago and it turns out its a weird on-line clothing shop of some sort.To be fair we are only small time and 30 minutes each night sorts the books out.
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