Rahkim Sabree owns a home in Hartford, Conn., invests and has money in savings. But that isn’t always enough to make him feel secure. Unexpected expenses, regardless of the cost, bring him discomfort.“I get very anxious when I have to spend money,” Mr. Sabree, a 33-year-old financial coach and consultant, said. This sometimes causes him to postpone paying for necessities like new shoes or household repairs.During his teenage years, Mr. Sabree, who is Black, lived with his family in subsidized housing and paid for groceries with food stamps. “When things got really bad, we went without electricity and water,” he said. More than once, they were nearly kicked out. Seeing an eviction notice on the door was embarrassing, Mr. Sabree recalled.Those experiences shaped how he spends and saves. Feeling in control of his money brings peace, Mr. Sabree said. But when that control slips a …
