40 year old guy freaking out, my account is dwindling fast

Posted on reddit.com in r/personalfinance by u/astupidfish on 9/28/2018
This is embarrassing.

I'm not 100% sure why I'm posting this. To vent, voice the fears, everything I've been keeping in for the last long while. Maybe to see if other people have been in this situation and beaten it, that would help. I'm stressing, losing sleep and going grey, every month I dread checking my balances, it's not a good feeling.

I'm a 40 year old guy, with a long term GF and an 8 year old I share custody with my ex with. I'm at an age where not only should I have my shit in gear, but also be saving money and investing into my retirement.

In reality, 5 years ago I had over $50,000 (result of the split from my ex) in my checking account, I paid my bills today only to see it dip below $10K. I had a panic attack, still feeling it. Feeling like a huge failure, I want to provide the best for my family but unless something changes I'll out of money sometime next year and lose everything..

This prompted a reality check (along with the heart attack) that I can't just spend and spend and hope that "stuff just gets better". I need to take action, stop spending money and just learn to say no to going out, I'm counted over $700 in fast food, restaurants, booze and other nonessential expenses each month alone.

I have a good job that should be paying all the bills, not including non-essentials. I've got some credit card bills, but if I hunker down I should be able to pay everything off this year. Between my income and help from my GF, we should be saving almost $1000 a month.

I've downloaded YNAB and entered my data, set the budget. Hopefully the numbers will stabilize, and god hoping maybe even start to grow each month.

Am I starting the process right? Anything else I should be doing to stove off this crisis before it's too late?



  1. Be good to yourself. Download Income Companion (incomecompanion.com) and build a complete picture of your future money for the next 12 months. With that kind of financial visibility you will be able to see where you are going as well as what kind of changes you need to make to keep your planned spending less than your expected income.

    It's never to late to get a grip on your money. However, doing so effectively requires a tool that works the way your money does. The only program that works the same as your money is Income Companion.


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