Does anyone else think like this? Or am I weird?
I tend to think of myself as the centre of a circle of financial security, then DH and myself in the next concentric circle, then DH, myself and my girls/children in the next concentric circle, then the rest of the extended family after that.
I sat back earlier this month and saw the big picture circle wasn't that healthy financially. The girls are swamped with student loan debt (one with LOC debt and CC debt). DH and I are swamped with an old house that is going to cost $90,000 in renovations, and DH's work pension is in trouble. Sooo...
I decided that any extra money we had was going to dealing with circles 1 and 2, and with student loans in circle 3. To that end I talked with the girls and told them my plan was to put money on their student loans for birthdays and Christmas this year. They were both more than okay with that. DH and I contributed from our joint and personal accounts to make a bit that at least we hope will be noticeable! But as one DD said "every little bit helps Mom!" I want to see all the circles of my financial security healthy.
Meanwhile, DH and I are contributing steadily but surely to our own circle, and I am saving from my allowance and dividends for my circle.
I find thinking like this helps me maintain focus on what is important, and keeps me from giving too much to charity and people outside the family.
Does anyone else think like this? What is your overall financial philosophy when it comes to financial security?
I tend to think of myself as the centre of a circle of financial security, then DH and myself in the next concentric circle, then DH, myself and my girls/children in the next concentric circle, then the rest of the extended family after that.
I sat back earlier this month and saw the big picture circle wasn't that healthy financially. The girls are swamped with student loan debt (one with LOC debt and CC debt). DH and I are swamped with an old house that is going to cost $90,000 in renovations, and DH's work pension is in trouble. Sooo...
I decided that any extra money we had was going to dealing with circles 1 and 2, and with student loans in circle 3. To that end I talked with the girls and told them my plan was to put money on their student loans for birthdays and Christmas this year. They were both more than okay with that. DH and I contributed from our joint and personal accounts to make a bit that at least we hope will be noticeable! But as one DD said "every little bit helps Mom!" I want to see all the circles of my financial security healthy.
Meanwhile, DH and I are contributing steadily but surely to our own circle, and I am saving from my allowance and dividends for my circle.
I find thinking like this helps me maintain focus on what is important, and keeps me from giving too much to charity and people outside the family.
Does anyone else think like this? What is your overall financial philosophy when it comes to financial security?