Why Are Some People Tight Fisted When It Comes To Money?

[dave50]

I dont mean being careful, that's sensible. I mean those that go through all their life not wanting to spend a penny more than they have to. Having no interest in a nice home, nice car, nice clothes, holidays etc, they are not saving up for anything or any special occasion or giving to charity, just accumulating money for the sake of it. Then dying with thousands of pounds in the bank. I know material possessions are unimportant but surely it can be used to give some pleasures in life like seeing the world for example. What is the point of it all otherwise?

[gness]

Odd isn't it, Dave....had this conversation last week with a friend who, through disability, had to move to care ten miles from his home.
A lifelong friend now hasn't visited for three years because his free bus pass won't get him close enough...he has a car which never moves.

This friend....with no close family... has now hit the one million pounds in savings and investments....adding to it regularly from pensions.....but I suppose if that's his joy instead of spending some of it, which he says it is....he's happy......and so will somebody else be when he dies.....

I'm thouroughly enjoying spending my savings.... with the aim of leaving little or nothing......:-)

[SIRandyraven]

I thinks it's a balance.
Have a nest egg , but at the same time spend income to enjoy your life.

[NoMercy]

My aunt is the same. She has a small fortune in the bank, no mortgage and has never worked a day in her whole self-entitled, bone stinking idle life.

She lives 3 doors from my mother and her backside is constantly hanging out of my mother's fridge as she scrounges for food as she has nothing in her cupboard or freezer.

A more parsimonious woman you never could meet.

[jennyjoan]

Only saw this post as I am perusing. I have been thinking of exactly the same thing. A lovely friend died last Christmas and was worth nearly a million. She looked after every single penny.

And I do know quite a few others - all have thousands in the bank but will not spend. Another friend has now told me she has "blew" £70,000 - ach who do you think you are talking to. She hasn't a ronion on her and the flat in the care home she moved to is poor furnished. In order to get her rent paid for her she put the money into her children's bank account so she gets tax credit or something. It actually makes me sad. I'm lost for words actually.

[Old_Geezer]

Money in the bank is security. Stress reduction. But it means the State no longer feels you are as entitled to help, when things are bad, as the spendthrifts are; and they try to grab whatever you've saved when you go.

[david small]

It’s a safety net, but also a burden. Something to cherish as an independence provider, yet, something to fear over in case of loss. When you’ve had nothing, and dreaded the next bill that you could not pay. The possibility of returning to that situation induces cold sweats. Some are chained to their wealth.

[waterboatman]

I'm sure everyone that is has their own reason.

[emmie]

perhaps if you didn't have a lot when growing up you get a little tight fisted as you get older, knowing that it can all disappear in a moment.

[ummmm]

My granddad was very wealthy. He worked hard and saved hard. He was very generous with me and my sister. We were the only grand-kids for many years so he paid for all our school trips :-)

[ummmm]

Wasn't it a council house?

[jennyjoan]

Yes Benny denied himself so much but he wasn't mean - he just wasn't interested in money - all his cheques were left on fireplace.

I can understand people wanting to hold on to their fortune per se but please don't cry poverty to me - "Me I wouldn't have £5 - wouldn't have it".

[naomi24]

//I know material possessions are unimportant but surely it can be used to give some pleasures in life //

For people who won't spend more than they really have to, accumulating wealth is their pleasure.