OCD about spending money

amother

Mon, Aug 05 2019, 2:58 pm

I try to be frugal wherever I possibly can, but sometimes I end up spending more on things and then I keep regretting it, like I should've researched a cheaper place, I should have managed without it etc...
Right now, I am so anxious about the mortgage interest rates. We bought a house when the rates were relatively high, but at that point we weren't going to cancel contract because of it. Right now rates are low, but still not low enough for it to be worth it for us to refinance. I cannot stop thinking about the extra money we paid and have to keep paying etc... I think about it all day, and makes me anxious Surprised

Cheiny

Mon, Aug 05 2019, 3:26 pm

amother [ OP ] wrote:

Try reminding yourself that Hashem decides on Rosh Hashana how much each person will get, down to the penny, and if you got your mortgage at a higher rate, that was exactly what you were supposed to get it at...

icedcoffee

Mon, Aug 05 2019, 3:43 pm

I can relate; I have a lot of financial anxiety especially when I think about "wasted" money. I try to live frugally, avoiding luxuries and unnecessary treats, devoting hours to finding the best deal - and then sometimes something unexpected just happens. Just last week I made a stupid mistake that led to a $600 loss and it was honestly devastating, I couldn't stop thinking about how upsetting it was even though BH it won't cause us hardship. But I tell myself that being so thoughtful with money makes it okay when unwanted expenses happen once in a while, because you've built up a safety net. There will always be ups and downs. You know that you have a good financial mindset, and it sounds like you're on a good path. Like Cheiny said, it'll work out the way it's supposed to. When I think about the dumb $600, I also remember how much I was unexpectedly saving in other areas of my life at the time, and now it feels like it's all just balancing out.

polka dots

Mon, Aug 05 2019, 4:11 pm

Cheiny wrote:

This
And whenever I have regrets I try to tell myself that I made the best decision with the information I had then.

Bsimcha

Mon, Aug 05 2019, 6:27 pm

There's a possibility that it's worth refinancing to a lower rate.If they dropped enough, even with closing costs, it can be worth it.

Edited as I just saw that you considered a refi but not worth it.

I'd ask your broker to keep it on his/her radar to see if it will become worth it.