Have you ever bought something to make yourself feel better? Or splurged on something only to feel instant guilt afterward? We may not always realize it, but our spending habits are incredibly connected to our emotions; recognizing this can unlock some strategies for seeing the financial progress we desire! We’re thrilled to share our conversation with Leslie about identifying our own emotional spending habits, how to curb them, and ways to engage in healthy spending patterns.
- Budget Buster Bootcamp! B3 is Jen’s new course designed to help you stick to a budget in just one week. If you find yourself busting your budget every month then you’re definitely going to want to check it out. There are no money saving tips in here, just 5 strategies to think differently about budgeting so you can finally stick to it and do it long term. If you’ve tried budgeting and it just hasn’t worked for you then check out budgetbusterbootcamp.com to learn more and use the code FRIENDS to get 10% off!
- Reigning it in: whether you’re spending has gotten a little out of control OR maybe you’re being too loud at the store about how outrageous the prices are and your friend keeps shushing you – you gotta ‘reign it in’. Grab that situation by the reigns, and just pull it back a little.
Leslie H. Tayne, Esq. is a New York debt settlement attorney with nearly 20 years’ experience in the practice area of consumer and business financial debt-related services. She is highly accomplished in negotiation and settlements, and has gone up against large national banks, credit unions, collection agencies and multiple creditor legal representatives. We’re excited to share some of our top questions and learnings from our time with Leslie!
- What is emotional spending?
- Spending on items for emotionally charged reasons rather than out of necessity or intentionality
- How do you identify emotions that trigger spending?
- Track your spending! Pay attention to what is prompting spending and how you feel before, during, and after
- What are some alternatives to emotional spending?
- Identify healthy coping strategies for some of the common emotions that could lead to unnecessary spending
- How can you recover if you have made an emotional purchase?
- Being kind to self
- Write down what happened
- Decide how you want to move forward – perspective of learning from this experience
BILL OF THE WEEK – Thank you Leslie for sharing your bill about your recurring purchases and how you negotiated EVERY.SINGLE.ONE.
- If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill
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What type of emotional spender are you!? Find out the different types of emotional spending from this Bustle article.
- The Instant gratification spender
- Shop to escape (This is Jen and Leslie! target, aldi, etc.)
- Competitive spender
- Trying to create a “new” you
- Buy & Return
- Treat yo self’er (This one is Jill!)
- Stressed shopper
Get more from Leslie at:
- IG: @Taynelawgroup
- Twitter: lesliehtayneesq
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Thanks for listening! See you next week!