Where do you keep money to prevent yourself from being tempted in spending it?

In a savings account. Then I hide it from my online banking.

In my tax obligation to the IRS?

@Zaku Uncle Sam appreciates you. :)

Small amounts go in my underwear drawer. Bigger amounts go into my savings account.

A separate bank account. I also have a cash stash in the house for emergencies, like needed car parts.

We sold a car yesterday and wound up with $2500 cash. Rick put it in the freezer. He is so odd!

We have direct deposit and have very little actual cash. The “money” goes into an interest earning account, and from there it gets spread around to various higher interest savings accounts, transferred to pay the bills or to invest in various stocks. It’s all just numbers on statements, there is no real money.

Money or cash?

Doesn’t matter where it is I almost never spend it. I can have $500 in cash sitting in my house just in case for 3 months, even a year, and not spend a penny of it.

I can have $40 in my wallet for months and not spend any of it. I charge most things.

In terms of all ways of spending, if you include credit cards, I still rarely spend. I buy groceries and gas for my car of course, but I don’t buy many things except what I really need. Not including the crazy extravagant cars we buy, but that doesn’t happen often.

I have a lot of money in savings, more than is usually advised. I also have a CD, so that money is locked up for another half a year. I have 401K, IRA, and HSA accounts for retirement, If you don’t have a retirement account go get yourself one! Huge miss for your future if you don’t take advantage of that tax break.

I recommend you figure out what you really need to buy and what you don’t, make sure you have a retirement fund (they fine you penalties if you withdraw the money) and get just as excited about seeing your money grow as you do about buying a new material thing. That money in “savings” is your FREEDOM. Every time you spend on something you don’t need you might be obligating yourself to having to work more or longer and not doing whatever you want.

I just boosted my 401K contribution, figuring another 5% of gross will hardly be noticed in my net pay. Especially since it isn’t taxed. In my paycheck I would only get the after-tax remainder.

@mazingerz88 Say “no” to yourself.

We have an account that takes both our signatures to withdraw from that works quite nice to save in .

Across the room from my shotgun, in a file cabinet in a va folder

@SQUEEKY2, sounds fine just as long as you have a backup arrangement so that if one of you becomes unable to sign, the other isn’t barred from access. Stuff like that turns out to be a major problem if there’s no ready workaround.

@chyna On my smartphone, your first sentence cut off at the word “underwear”.

By now, my temptations are too petty to bother denying myself. This year of hiding myself has taught me a lesson on just how expensive it is to be out and about. It would be a startling lesson were it not for the fact that I’m now so socially sedentary that I barely have any reflexes.

Multiple bank accounts. I get anxiety about spending it, actually.

@rebbel Well, I keep some there, too. :-)

Cheeky!

I keep it in an online trading account. I’d rather try to have my money make money for me.

Sitting on too much money for too long is bad for the economy. If money isn’t moving around then economic conditions become stagnant. And that isn’t good.

And what’s the benefit of not enjoying your money while you’re alive? At last word, you can’t access your brokerage account when you are 6 feet underground.

True, but you still need money for when you retire. Social security won’t be enough to live on for most people.

Something to leave the kids.

I am fortunate. My spending habits do not change whether I have $1000 cash in my wallet or $10.
In general I only buy what I need and am not tempted at all by other things.

I can afford to buy anything I want, but don’t. Maybe that is why I can afford to buy anything I want.

^^ I’m with LG.

I have a problem….the money just won’t stop flowing in! We got the proceeds from the sale of the house.
Then we got the proceeds from Rick’s dad’s estate.
Then all the stimulus checks.
Then we sold a car for $2500 cash.
Then we learned we will be getting almost $4000 on our tax return.
Yeah. I’m hiding it all.

@Dutchess_III We know to check the freezer miss thang~! haha!

The dummy! It needs to go in the bank so I can hide it!
Oh…and I found a check for $56 made to Rick from his older brother. It was just floating around in the car. I KNOW Rick forgot about it. I deposited it into his account.

My wife and I have a joint account, but she can manage money much better than I do. I always leave the check book and all of our credit cards with her, and any cash I have over and above my daily expenses at work stays with her as well. Because if I have it I will blow it. This arrangement has served us well for over 40 years. I just never could manage money.

My wife will buy me beer from time, but she rations me. Says I act goofy when I’m drinking and then all I do is sleep. Guess it stems from back in the day, when she was hot to trot, and I would be too blitzed to perform. Few of my prior girlfriends said the same thing. But what’s the point having a case Lone Star if you can’t imbibe? Other than that, I never cared much about money, as long as the bills are paid, and my wife and grand kids have what they need. I will not have a wife without the latest fashions and designer purse.

Interesting question.

It suggests the possibility of placing money in a location to deter needless spending instead of how to cultivate a mindset in which the temptation to needlessly spend does not exist.

If you view having money as meaning buying whatever you want, there’s really nothing to prevent you from spending it.

If you view having money as the means to provide a comfortable living you understand the necessity to spend responsibly.

If you spend responsibly you can put money wherever you choose…

…it will be there whenever you need it.