'I stash cash where my wife can't find it': America's juiciest money secrets, as told to CNBC. investinyou (In partnership with acorns.)
When asked what their biggest money secret is, participants in the new CNBC and Acorns Invest In You Savings Survey spilled the beans in two different ways: Some shared a secret savings or investing tip that they've found helpful, while others — reading the question differently — 'fessed up to a secret money shame, something they are embarrassed, or regretful, about when it comes to their finances.
We got a lot of answers along these lines, including:"I don't have enough for essentials,""I don't have much" and"I'm just scraping by." In our survey, 17% of respondents said meeting daily expenses is their biggest financial worry.If there's one bad habit sure to drive your financial adviser crazy, it's your love of lottery tickets or casino gaming.
The"airplane oxygen mask rule" applies down here on terra firma, too: You have to put your own mask on first before helping to put one on someone else. In other words, you can't be of any long-term help to others unless your own finances are in order. Setting up regular automatic deposits into a savings account that's hard to access — say, a high-interest savings account at an online bank for which you've cut up the debit card — can make it easier to"set and forget" all those savings. You could also invest a thousand or two in an untouchable CD, and forget about that cash until it matures, too.Truth be told, there's something to be said about having a constructive, productive mindset when it comes to your finances.
This reminder can help you stay on your budgetary track, sound a warning bell or even make you feel good about sound financial choices you've made. Again, on a related note, in the survey, a majority of respondents said they considered themselves savers rather than spenders .This is another kind of statement that was more common among survey respondents than financial advisors would hope.
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