Preface: I know that my friends’ money problems/decisions are not my business, and I should just let it go – but these are friends I love and seeing them make these bonehead moves makes me sad. And also, honestly, frustrated.
Married couple. One of them was unemployed for 11 months during 2012, and they had to cut down their expenses during that time. Fine, they managed that, but it meant that for almost a whole year, they missed out on retirement savings/retirement matching from an employer.
Friend got job, a good job without the stresses in his old position. Pay was slightly less, but the overall situation was good.
Last year, friend got a small inheritance. He walked away with over $40,000 when all the checks had cleared. I was talking to him about how this was a chance for them to dump massive amounts in retirement and emergency funds. He was all…that would be a good idea…I did not put anything in savings while I was unemployed….
Instead, they spent it ALL on a new kitchen. It’s a beautiful kitchen, really lovely, but….but… emergency funds? Retirement savings? Smart decisions? I’m proud of myself that not once did I say anything snarky about the situation, because it is their money and none of my business (she says through gritted teeth).
Last month friend tells me that he’s doing so well at his job that when bonus time came around he got a $10,000 bonus. He had to pay taxes on that, but he still cleared about $6500. Which they immediately spent on: Tiles for the kitchen backsplash and house repairs.
Every time I think about it my head just about explodes. It’s like any time “extra” money comes into his life, he sees it as fun money. My husband just told me to button my lip and keep my thoughts to myself, and that’s exactly what I intend to do…but I figured it was safe to blow off a little steam here about it.
Remind me that smart people make goofy decisions all the time and that is their right….and I need to make like Frozen and LET IT GO!