Fear of spending money and addicted to saving, how to tackle this problem?
Lads I genuinely have a fear of spending money, whenever it comes down to buying things, there's an intense guilt that I feel after the purchase. I often analyse things I bought and think I wish I didnt buy that and how it could be got for less had I waited.
I dont invest or bother with savings accounts, I use my current account which I know is not smart and how i am losing money to inflation.
Over the past year or so I went down a rabbit hole of consuming financial content online, personal finance subs like this, Dave Ramsey content on youtube, and while it taught me alot it also made the voice in my head louder, so whenever it comes to buying things theres always this idea of is this a waste of money, should I opt for something cheaper or completely avoid spending at all.
When it comes to investing, I have a fear of failure and get overwhelmed by all the different options, what if VWCE isnt the best option, what if the SP500 crashes, what if the savings account I pick isnt the best rate. These are some of the thoughts that deter me from investing so I end up just hoarding money instead.
For those who have been through this, what actually got you to pull the trigger on your first investment or savings account, despite not knowing for certain it was the optimal choice and what were some of the things you did you calm financial anxiety?