Do you suffer from “Dollar X Syndrome”?
There are many people who suffer from Dollar X Syndrome which prevents them from effectively accumulating their savings. They will either consciously or unknowingly associate an arbitrary amount of savings in their bank as a comfortable figure of money to have. When their savings fall below $X, they start to become uneasy and save more to reach closer to their comfort zone. When they have more than $X, they feel comfortable to spend, usually unnecessarily, until they fall back down to X dollars.
This habit can go on for years until the person realises that he has not managed to save anything for retirement or to be financially free, other than a grossly insufficient $X.
To overcome Dollar X Syndrome, one must set aside a sum of money every month to be automatically transferred out of his usual spending account. This can be ...... Do you suffer from “Dollar X Syndrome”?
There are many people who suffer from Dollar X Syndrome which prevents them from effectively accumulating their savings. They will either consciously or unknowingly associate an arbitrary amount of savings in their bank as a comfortable figure of money to have. When their savings fall below $X, they start to become uneasy and save more to reach closer to their comfort zone. When they have more than $X, they feel comfortable to spend, usually unnecessarily, until they fall back down to X dollars.
This habit can go on for years until the person realises that he has not managed to save anything for retirement or to be financially free, other than a grossly insufficient $X.
To overcome Dollar X Syndrome, one must set aside a sum of money every month to be automatically transferred out of his usual spending account. This can be ......
