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Impulse Spending Habits To Stop – Ep. 150
In this episode, let’s unravel the misconceptions around budgeting, revealing why it’s not about restriction but intentionality. Let’s explore the essential strategies and tools needed to manage impulse spending effectively, positioning ourselves for long-term wealth and success.Tune into the episode for practical advice and transformative insights. So, let’s go!
Time to shake up your finance game! In our latest episode, let’s dive deep into impulse spending. Let’s lay down the truth about those sneaky spending habits that need to be halted for your wallet’s wellbeing. Let’s transform your financial shame into unstoppable success. Let’s go!
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Podcast Key Points:
0:00 – Episode Overview
1:29 – Haphazard Spending
3:06 – Budgeting Tools For Impulse Spending
6:42 – Action Step
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Impulse Spending Habits To Stop
What impulse spending habits do you actually need to stop? This is day two or episode number two of our guilt free impulse spending series and today we’re talking about what you need to stop doing. So here we go!
This is the Your Money Your Life podcast. I’m your host, Aimee Cerka, a money confidence coach for female entrepreneurs on the path to six figures. After over 10 years in the personal finance industry and multiple personal financial and medical crisis.
I was fed up with the lies that are being shouted from the rooftops by the Gurus and the media said I help you simplify, solidify and scale your money. By blending tactile money strategies with mindset work, you can create unstoppable finances. Together, you’ll finally figure out the money thing so you can make more money in less time without living off of beans and rice, or sacrificing your lifestyle.
Episodes here on the podcast are short and sweet. Being married, having four kids at home, homeschooling being the CEO running the household, I’m kind of busy. And I know you are too. So let’s keep it simple and get to the point. Welcome. I’m so glad you’re here!
Understanding Impulse Spending: What It Is and Why We Do It
Welcome back to another episode of the Your Money Your Life podcast. I’m your host, Aimee Cerka. Right now we are talking about guilt-free impulse spending. This is day two, episode number two, on last episode, we talked about what impulse spending is and why we do it.
At its core, you know, it’s emotional triggers coming from our money mindset. But if you miss that episode, really should just pause this one, go back and listen to that one. First, I’ll make sure the links are below in the show notes make it easy for you. Because there’s a reason for the order in which we are covering these things. Okay.
The Importance of Having Tools and Systems in Place
But today, we’re going to talk about impulse spending habits, you do need to stop. Now just as a reminder, we don’t need to stop all of it. In fact, you need to impulse spend to create long term wealth and long term success.
And we’re going to talk more about that probably day four. But at its core, we have to stop impulse spending without tools and systems in place to prevent the haphazard impulse spending. Okay. And I know, having strategies and systems in place to limit the impulse spending is really, that’s not really the right word limit.
It doesn’t feel like impulse spending if you have tools and strategies, but stick with me because they’re not. They’re not as limiting as you think they are. I’ll share my favorite tool on the third episode and then day four, or episode four, whatever want to call it that’s like where the magic sin. Okay?
The Role of Budgeting in Curbing Impulse Spending
What are the tools that you need that right, we have to stop doing it with all the tools and systems in place? So what tools do you need? The first one, like at a minimum, you need a budget. And we’re going to talk more about that again on day four, Episode Four. But, and we’ll get into like the mindset behind a budget because it’s not meant to limit you.
Let’s address some of the things that I hear when people think we have a budget and we don’t actually have a budget, okay, because this is key. You don’t have a budget just because you keep an eye on the bank account. Just because you check the bank account balance or there’s money in the bank account, you do not have a budget, you do not have a budget just because you have an app that tracks your expenses.
Recognizing the Difference Between Tracking Expenses and Budgeting
This is one of the most dangerous ones because it gives you that false sense of security. But yes, tracking your expenses is good, and you should be doing that. But that’s not a budget, tracking your expenses is reactionary. After the fact, a budget is setting the intention beforehand. Okay.
This is going to be double negative, but we have to stop not taking responsibility. So take responsibility. I know you don’t need to add a bunch of things to your plate, though. Like this is not what is going to happen. But we can’t take the easy way out because it’s hurting you long term.
Taking Responsibility for Our Financial Well-being
And whether it’s the easy way out because you don’t want to see the numbers and you feel like you can outwork them, because that’s a real thing. Or this is the easy way out because you can’t handle one more thing on your plate right now, regardless of it, that’s not working any longer and you’re losing money by not taking responsibility. So if we’re avoiding having a budget because we don’t want to know where things are at, we want to be able to guilt free impulses and you’re actually creating more guilt.
It’s just done at a different layer so you’re not feeling it as painfully obvious. Okay. And why is this so crucial? Like your budget is such a powerful, Well, today, we’re gonna get into a couple of the other tools again to next episode and the fourth episode. So we’ve got you covered.
Understanding the Influence of Marketing and Advertising
But we have to have that responsibility here because marketing and advertising is a billion dollar industry, it’s effective; it works. There’s nothing necessarily wrong with it either. Because, you know, like, I mark it, and I advertise to, and yes, we want it to work, all businesses do. But if you’re not setting the intention of what you want to spend your money on, and counteracting those four triggers, because guess what the marketing and advertising industry knows exactly what they need to say, to be able to trigger those things for you.
So if you’re not aware of what’s going on, you don’t have the system and tools in place to impulse spin in a way that feels good and on things that are actually important to you. Because how many of us have bought something and literally, like, I didn’t even want that those triggers are happening because we don’t have the right systems and tools in place. Okay.
Leveraging Budgeting as a Tool for Financial Freedom
So essentially, we have to stop impulse spending without the strategies in place, and your budget is the overall one. Okay? This is like your big picture, you have to have a budget in place. Your budget is not meant to limit you, your budget is simply setting the intention of where you want your money to go. It’s not about limiting you, you can spend your money on whatever the heck you want.
We’re gonna get in more into this and day four, with like, the magical part that puts it all together for you. But know that just because you have that budget in place, does not mean that you are limited. Okay? That’s what we’ve got for today.
Taking Action: Reflecting on Our Financial Mindset
Which your action step, I want to hear from you send me a message on Instagram. Which part of today kind of was like, “oh, no, like, I’m not doing that. That feels hard. That feels scary.” Whatever it was, what was like that red flag for you? That you were like, “Nope, I’m out. I’m done. Not doing it me listening to you.”
But you’re checking out. Like, send me a message on Instagram. I want to hear where this is landing for you and which parts were kind of like, “no, don’t want to do that.” Because I want to make sure this is tailored to actually help you right. @aimeecerka, links in the show notes as well. We’ll see you next time.
Embracing Financial Empowerment
You’re struggling with shame and guilt around your finances. Whether it’s debt impulse spending mistakes from the past, or the fact that you still haven’t hit your income goal, then it’s time for you to work with me. There are different levels of support and price points that you can use on the path to removing that guilt and shame so you can step into your unstoppable life. After all, your finances are unique to you and your support should be to go to workwithaimee.com to get started with one of my most popular programs, or you can book a q&a call with me. We’ll figure out what your next step should be. And of course, all those links are hanging out in the show notes as well.
