How To Cut Spending Without Sacrificing Your Coffee

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Ep. 202: How To Cut Spending Without Sacrificing Your Coffee

In this episode, I tackle the extreme advice of cutting frivolous spending to pay off debt and why it’s not serving you. I explain how focusing solely on debt can be unsustainable, similar to yo-yo dieting. Instead, I suggest shifting focus to improving net worth for a true financial picture.

By asking yourself why you’re making financial choices and starting small, sustainable changes, you can create positive money habits without societal pressure. Tune in to discover how to align your finances with your true goals, not just the “shoulds” imposed by financial gurus.

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Resources:

Beyond The Numbers – https://aimeecerka.com/beyond-the-numbers
Money Mindset Playbook – https://aimeecerka.com/mindset
Instagram – https://instagram.com/aimeecerka

Podcast Key Points

00:00 Rethink Financial Advice
03:15 Yo-Yo Dieting and Finances
06:18 Questioning Cash-Only Car Purchases
10:15 Money Mindset Playbook

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Breaking Down Traditional Financial Advice

Have you heard financial gurus tell you that you shouldn’t have a car loan? You should stop going out and getting your Starbucks, your coffee, whatever it is until you’ve paid off all your debt. You shouldn’t do all these things, and it just felt icky or shame-created. We’re gonna talk today about why that advice is not serving you and what you should do instead.

So if you’ve avoided your finances or avoided these things because you don’t wanna have to cut it all out, this episode is for you.

Extreme Money Advice Isn’t the Answer

We’re talking today about why the idea that you should cut off frivolous spending, you shouldn’t have a car loan, you should pay cash for cars, you shouldn’t eat out, you shouldn’t do those things is too extreme and why it’s not serving you. If you were buying into this mindset, there are a lot of gurus out there that’ll tell you that you shouldn’t be eating out.

You shouldn’t do all this. If you are in debt, you should be throwing everything to your debt. And what’s wrong with you?

The Problem with No Spend Challenges

We’re not gonna spend anything. So if you’re successful with paying off all your debt, and this has been your focus the whole time is paying off debt, paying off debt, paying off debt.

If you’re successful, it’s been proven within five years, seventy-five percent of people are back into debt again. Because we have sat there and programmed our subconscious to get out of debt, get out of debt, get out of debt. So what are you focusing on the whole time? Debt.

Focusing on Net Worth Instead

There’s a really simple switch, though. It’s so seamless. We focus on our net worth instead. That’s our true financial picture of where we’re at. As you pay off debt, your net worth improves.

Start Small with Sustainable Changes

But we start small. So maybe instead of going out and getting if you’re wanting to cut like this okay. Let’s back up a little bit. There are times to cut expenses. Yes.

Look for Possibilities in Challenges

And you want to have a focus where you cut expenses down. But we still need to have that positive money association, that play account is the way that we teach this within your budget. And it makes it really seamless because you have when you have a budget like that, because you can know where you’re at.

You’re not just trying to do this from the mind chatter that’s showing up. You have the play account.

Avoid the Pressure of Societal Shoulds

So maybe there’s times where you’re focusing on something else, whether it’s paying off debt, whether it’s saving for a vacation, maybe it’s saving for a new property, whatever it might be, where you want to trim down the play account a little bit and not spend as much money there right now. That’s okay because we’re not going extreme.

We start small. A lot of times I’ll see this show up about, you know, I don’t know how we could cut expenses. We’re stuck in this.

Ask Yourself Why You’re Making Changes

Break it down. What’s the first step? And, again, asking ourselves why throughout all of this. Like, why are we doing the things that we want to do? Is this something that you actually want to do, or is this something you feel like you should do?

Make Aligned and Confident Moves

We’re removing the extreme. We have to cut it all. You have to pay cash for cars. No frivolous spending because that doesn’t freaking work. We are going to do this in an aligned way that feels good.

Stay Tuned for More Helpful Tips

If you wanna make cuts, if you want to cut down on spending, go for it. Asking yourself how could it be possible and making small sustainable cuts so that you can move forward with confidence. That’s what I’ve got for now.

Stay tuned. Next week, I’ve got something that’s dropping that I’m pretty excited about, behind the scenes.