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StitcherIf you love shopping but it makes you feel a little guilty then you are in the right place because in this episode, Jen and Jill walk you through how to spend money while being able to identify what you love spending on so you can finally shop without guilt.
Focus on empowerment, not discipline.
Why You Can’t Stop Shopping
Jen explains that we keep shopping because of dopamine loops and micro-rewards and marketers know it. Meaning, algorithms learns our triggers and quickly turns our feed into a catalog of insecurities, goals, and the version of ourselves that we want to be. This leads to the second one: buying your self-identity. Jill says this is when you spend to prove who you are, instead of buying what actually supports your real needs or goals.
The third one involves social comparison. Because influencers make spending look normal, and social media makes it feel like everyone is buying, traveling, and upgrading so you feel left out. But in reality, the algorithm isn’t looking out for you, it’s just trying to keep you scrolling. Lastly, we often buy to avoid uncomfortable feelings or tasks. They say it’s not that you really want the thing, you’re just looking for a little relief.
How to Overcome Shopping Addiction
Jen and Jill offer four solutions for when you can’t stop shopping. First, take a pause. Next, do a 90-day transaction inventory to spot your triggers and plan around them. They also suggest actively training your algorithm. Lastly, use the Frugal Shopping Framework by asking how you can get something for free, low-cost or secondhand, on a deal, or guilt-free.
When’s the last time social media made you spend money?
Jen’s is when she saw BOGO chicken nuggets at Publix from someone she follows. Jill’s is when she saw an ad for a local restaurant!
Bill of The Week
Thank you Christy for sharing your bill about negotiating a lower rate without increasing deductible or changing coverage – saving $!
Thanks so Much for Listening!
Thanks so much for listening. We love love love reading your kind reviews of our book Buy What You Love Without Going Broke and we especially loved this one from:
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The Frugal Friends is the only podcast I consistently tune into twice a week — I’ve been listening to Jen and Jill for years, and it’s akin to hanging out with my girlfriends chatting about real-life experiences with money (a para social relationship I’ll admit, but hey, if they do a Seattle book tour stop I would totally ask to be their irl friend.)
Their philosophy of values-based spending is a much-needed antidote to the Dave Ramsays of the world. This new book is filled with actionable advice for building a budget that balances needs and wants, sans the shame/guilt or asceticism other financial gurus push.
If you’re new to the world of personal finance, and want advice from other folks with similar life experiences (student debt-addled millennials, I’m talking to you), I highly recommend starting with this book — and their podcast! And even if you’re not new to personal finance, and just need motivation to stay in maintenance mode towards your financial goals, this book is great for that too.
If you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.
Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉