Hitting the wall

[EmsMom]

I think I hit the wall when it comes to saving and I really want to spend some money. I have been living on 2/3 of my income for about 6 months and putting the rest in savings. I have 4 months earned income saved (other income is not at risk but ultimately my goal was 8 months expenses).

My general policy has always been 'don't count your chickens before they are hatched" but there is quite a bit of money due me towards the end of this year. And I have no debt but a car loan and a growing student loan for graduate school. I really want a few things because the lack of them is buggin' me. New clothes (not lots, but I really need to maintain a more polished image than I used too, two new dressers for my kids because the one they now share is very broken and I can't seem to fix it (sure have tried, though).

I am not really a spender, just a saver and have been that way for a long time. But, is there a point when you have saved enough (and by the end of this year, I should have a decent IRA, 8 months cash reserve and a fully paid for newish car and no other debt except a growing student loan. My job is stable for now, but I think I stand a good chance of being laid off in January. Not the worst thing, as I would just take more credits at school and pull back on my savings. So how do I know when it is "okay" to spend again? I am getting really sick of the dresser in particular and I can get two new dressers from Ikea for about $200. I have been frugal like crazy and maybe it is time to let go just a bit? Or not, because it is too scary!! What if I don't get a job when I graduate????

[abiyhayil]

I'm not in a place to give financial advice, but maybe you could dresser 'shop' during move out week at the college?

[Dmitrizmom]

craig's list and freecycle are great places to look for furniture... curb shopping when the semester ends is also an option.

[2cutiekitties]

I wonder that too. The more I save the more greedy I get.

I have money set aside for a wedding ring, but I just.cant.do.it. But dressers, for 200? I would have already done it

[Smocked]

my only advice would be to not get ikea dressers. I have had 2 in a row break on me

[PlayaMama]

why not thrift store shop for the dressers? i've seen a few really nice ones for under $20. or you could craigslist it... my mom got me some nice ethan allen stuff after looking for awhile. either way, i'd vote for not new but sturdy and lasting.

so, yes, spend some money! but do it frugally!

[EmsMom]

I would love to get some other kind of dresser, actually. But the room is very small and two small ones will work better than one big one. I have looked for about a year for a used one. I have very little time to do that sort of thing anymore anyway. I have hit a wall on just about everything in my life and feel pretty much like a total failure. So maybe it is just me wanting to spend money to get a quick lift. And pretty soon I will be a spend-a-holic and then that will crash in on me, too. I better just sit on my desires, I think....

[crunchy_mommy]

That's the thing I'd worry about, from the way you're describing it, it's less about wanting/needing the items and more about wanting to spend money. Could you maybe cut back on your saving just enough to give yourself some discretional money? And you could "save" the discretional money for a big purchase (dressers etc.) or spend it each week on clothes or whatever else it is that you want. Even just $5-10 a week to treat yourself to a fancy coffee or a shirt on clearance might be enough to keep you in the "saving" mode.

[Free Thinker]

I would consider a few new clothes and a dresser a 'need' instead of a want. If the dresser is falling apart, you need a place to put the clothes. There are several options, you could try to find a used one, or you could buy a well priced one from Target or Ikea, or you could get some of thost plastic things w/ drawers in them from Target/Wal-mart/Ikea instead of a dresser. As for the work clothes, I think you need to add this category to your budget. If you are a professional you need to dress like one. That doesn't mean go all out, but I would buy one new outfit per month at least, and add that amount to your budget. You may be able to skip a month if you really can't swing it, but buying clothes isn't always just a 'want' it can absolutely be a 'need' and work clothes make an impression on your boss!