I wake up and check my bank account, my credit cards, my stocks, read about money, go to sleep thinking about it.
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is this one of the steps?“. . . And the LORD spake, saying “First shalt thou take out the Holy 401k. Then shalt thou save to 20%, no more, no less. 20% shall be the number thou shalt save, and the number of the saving shall be 20%. 25% shalt thou not save, neither save thou 15%, excepting that thou then proceed to 20%. 30% is right out . . .””
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Have you had other hobbies where you felt the same way and it eventually waned? I’m the same way. I definitely think about money too much, but for most of my hobbies throughout my life, I get super into it, learn a lot, post, and then eventually get bored while still partaking in the hobby only as much as is actually “necessary” to still call it a hobby. I figure the same will happen with finance.
Avoiding forums would probably be a start. The whole idea is that it should require very little of your time, so not like you have to be here
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Early in my career, I was the same way. I now regret the excess time spent thinking about money, reading financial porn, studying stocks and mutual funds, etc. It might be a stage that some people go through. That said, I do check my bank account balance and the stock market futures every morning before moving on to other, more important things - making coffee, exercising, feeding/walking dogs, vacation planning, etc.
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Originally posted by Craigslist View PostI wake up and check my bank account, my credit cards, my stocks, read about money, go to sleep thinking about it.
I mean I check stocks, but rarely anything else as its easy to be in the ballpark all the time.
I think one of the hardest parts in all this is "figuring it out" and then nothing happens for what feels like forever. Neither your debts nor savings just blow up over night, its the waiting a few years thats hard.
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Why are you checking it...is there a particular reason? I check my credit card daily just to make sure everything looks ok as we've had 2 issues with fraud in the last 18 months. I'll check my investments only if there has been a big market movement that may affect where my contributions go. I also keep my eye on the markets daily because it's one of the things I'm interested in although my portfolio is very boring.
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What is there to check? Plow your excess money into your retirement and brokerage accounts once a month. Work and let your investments compound. The only time there is something to do is if the market drops enough that it's worth TLH (>10% drop in my case).
Use a financial aggregator like Mint and you can see all your linked account balances and transactions. Mint also offers a nifty net worth graph in one week/month/year increments. When I swipe between them it makes it obvious how short-term movements is mostly noise.
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Originally posted by CordMcNally View PostWhy are you checking it...is there a particular reason? I check my credit card daily just to make sure everything looks ok as we've had 2 issues with fraud in the last 18 months. I'll check my investments only if there has been a big market movement that may affect where my contributions go. I also keep my eye on the markets daily because it's one of the things I'm interested in although my portfolio is very boring.
Can imagine checking all the time.
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