Money in the bank.

peilthetraveler

peilthetraveler

I don't know if anyone else feels this way, but I noticed something. I always feel happier with more money in the bank. Not sure why. Like say I have $50k. If its in my checking account, something about that just makes me feel happy and content. I dont feel that way though if its in Stocks, or bonds, or gold, home equity, or even in cash. Why is that?

Its odd because the only thing I use my back account for is to pay bills. I pay everything with credit and just make transfers at the end of the month, but for some reason, having a higher bank balance seems to be more satisfying than having a higher brokerage account, or just having the cash laying around the house.

Anyone know the psychology behind something like that?
 
Quote from peilthetraveler:

I don't know if anyone else feels this way, but I noticed something. I always feel happier with more money in the bank. Not sure why. Like say I have $50k. If its in my checking account, something about that just makes me feel happy and content. I dont feel that way though if its in Stocks, or bonds, or gold, home equity, or even in cash. Why is that?

Its odd because the only thing I use my back account for is to pay bills. I pay everything with credit and just make transfers at the end of the month, but for some reason, having a higher bank balance seems to be more satisfying than having a higher brokerage account, or just having the cash laying around the house.

Anyone know the psychology behind something like that?
More...
who knows ,i think you nuts,i dont feel that way at all,actually just the opposite,screw the banks with their fake money created from nowhere,my balance 99% of the time is less than 5$
 
I know the feeling. I think it is just the feeling of knowing you have a good bit of money easily accessible. You don't have near as many worries because everything is covered right there in that account.

BUT I do have to say having your brokerage account built up also is an awesome feeling
 
I always felt greater,when i took an interview in the past,with a couple of grands in the pocket,then with a hundred.
 
I suppose we all have our little areas of being able to feel proud of our accomplishments, mine are rather weird in nature of feeling good, LOL I have OCD and it flares up time and again, I will cut out almost any coupon I can use where I get some products almost free, I will spend more in gas sometimes but I got that case of refried beans at 75 cents off a can, so what I had to drive 75 miles roundtrip to get them....LOL, then I end up donating the case to someone anyway, ROFL.
 
Perhaps its a subconscious link of your account and the spending that it enables you to do. There is research showing that its more painful to spend cash comparedto electronic money
 
Quote from peilthetraveler:

I don't know if anyone else feels this way, but I noticed something. I always feel happier with more money in the bank. Not sure why. Like say I have $50k. If its in my checking account, something about that just makes me feel happy and content. I dont feel that way though if its in Stocks, or bonds, or gold, home equity, or even in cash. Why is that?

Its odd because the only thing I use my back account for is to pay bills. I pay everything with credit and just make transfers at the end of the month, but for some reason, having a higher bank balance seems to be more satisfying than having a higher brokerage account, or just having the cash laying around the house.

Anyone know the psychology behind something like that?
More...

stocks = market risk
bonds = market risk
gold = market risk
home equity = market risk
cash = spending risk (when has cash in pocket ever NOT been spent eventually?)
bank deposits = few risks (as long as within FDIC limits, and FDIC stays solvent), except: 1) inflation, 2) hacker theft, ... ?

Inflation is no "small" risk, but we tend to conveniently tuck that idea away in the back of our minds somewhere. Hacker theft risk is small, and a good bank should make you whole in that event (happened to me).

Anyway, that's my Dr. Phil .02 as to why we may feel safer in bank deposits.
 
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