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Having Lots of Money is Hard….


How much do you have in your bank account right now? Is there a comma in your bank statement balance or are you often hovering below that thousand dollar mark? As many of you know, I am now out of debt (for the second time) and am starting to build up my bank account again. While it’s nice having some money, it’s a little harder to hang on to than I initially thought it would be.

Your Trigger Number

I wrote an article a few months ago that warned people about their “trigger number”. This is the amount of money when you really start to feel like you sitting pretty with your finances. For some people, this is a thousand bucks. For others, it’s $5,000. Once they hit their number, they start to get a little relaxed on their finances and start thinking about what they could buy with their new-found wealth.

Apparently, just because I own and operate a personal finance blog doesn’t mean that I am exempt from this “trigger number” theory. I have my temptations too. Lately, this temptation has been a 30 year old Corvette. There’s really nothing special about these Corvettes, but they are relatively cheap, and most importantly, I can afford to buy them with cash.

Looking For The Car to Flip

Really, I’m trying to find a car to flip before the winter, but I keep stumbling on these Corvettes. It was a 1984 black Corvette with chrome rims and a flawless body. I shouldn’t even have clicked on the ad, because soon I was convincing myself that I could buy this car for cheap and flip it…even though it’s almost winter….and there is pretty much no demand for these cars, which is why they are so cheap. If I bought it, I would almost certainly get stuck with it for the entire winter and then struggle to sell it in the spring. 

Thankfully, I discussed this purchase with my family and they just blatantly told me that it wasn’t a good idea. I agreed and cancelled my appointment to look at the car. Ha, I can’t believe I even considered it, but that’s what happens when you start accumulating money. At a certain point, you just want to spend it! After all, spending money is way more fun than spending it.

Learn to Hold Onto Your Money

It was less than a year ago that I was poking fun of my friend. His plan was to spend $5,000 or less on a vehicle and was taking his time making the purchase. In fact, he took so much time finding that perfect vehicle that he kept building up his savings, which meant that he kept looking at more and more expensive cars! First it was $7k-$8k, then it was hovering around $10,000, and finally he found the car that he wanted…. for $13,000. Sure, he paid cash, but he could have found a perfectly good car for $6,000. 

I laughed when I heard the story, but I can easily see how something like that could happen. Having cash burning in your pocket is difficult to hold onto! Hopefully I can continue holding onto my money and investing it wisely…

What do you do to make sure you don’t spend your savings? 



My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. I’m glad you had a good support network to talk you out of it! Congrats on making a great decision!

    • Me too! It’s great to have wise family and friends.

  2. I understand about hitting the trigger number. I feel this way about our savings. Right now we have our down payment money in our bank account since we’re looking for a house, but it’s so much, I keep thinking of ways to spend it…Trying to have a no spend pledge.

    • It get’s tough doesn’t it? I was surprised that I had the urge to spend too – it’s just not like me! Maybe we’ll have to keep each other in check. 😉

  3. I have -40% of my income going out the door touching my savings. I’ve only got a little bit of time left before I have to change my lifestyle. It’s depressing.

    • Hi Chris. 40%?? That’s a ton. I would encourage you not to wait until your money runs out to change your lifestyle. Start making adjustments now so it doesn’t become such a shocker later on.

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