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Do you have to cut all the frivolous spending to successfully get ahead financially? Nope! In fact, the opposite is actually true. Let’s discuss the frivolous spending you love and the finances you’re looking for. Inside this episode, we’re talking about what you should eliminate from your spending, what you absolutely HAVE to keep, and the reasoning why it truly matters for you to get ahead.
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Podcast Key Points
0:00 – Episode Overview
1:55 – No Spend Challenges
3:04 – Spending What Do You Need To Cut
4:45 – Episode Sponsorship – Impulse Spending Like A Pro Series
5:54 – Is This Spending Harming Relationships?
7:03 – Nourishing Spending
8:33 – Making It Work Long Term
12:13 – Recap
12:43 – Challenge – Insights From This Episode
13:23 – Work With Aimee
Frustrated that you aren’t making the progress that you should within your finances? Create an unshakable money mindset with the Money Mindset Mastery Checklist
Keep It Or Leave It – Frivolous Spending – What Do You Think?
Do you have to cut all frivolous spending to successfully get ahead financially? Nope. In fact, the opposite is actually true. Let’s discuss this frivolous spending or impulse spending that you love and the finances that you’re looking for. Inside this episode we’re talking about what you should eliminate from your spending what you absolutely have to keep and the reasoning why it truly matters for you to actually get ahead financially.
This is the Your Money Your Life podcast for ambitious women come together have clarity prosperity and confidence with their money without sacrificing precious time in a well-deserved fun. So let’s do this welcome to the Your Money Your Life podcast. I’m your host, Aimee Cerka.
After my husband and I faced three major financial roadblocks in the last six years, I felt like I wasn’t doing all that I could and I had let my family down. It always felt like life was a struggle, like I had to work harder than everyone else. It just came easy to them. And I didn’t feel worthy of success, until a coach helped me see the successes in our experiences instead of our failures. This allowed me to create and implement systems to grow our network by 200,000. Plus, while spending time with my loved ones, and on my priorities. Now I help motivated women create the happiness, family life, financial security, and long-term wealth they deserve.
If you’re ready to eliminate stress, struggle, frustration and guilt within your finances, you’re in the right place. Welcome. I’m so glad you’re here.
What Is Frivolous Spending?
Welcome back to another episode of the Your Money, Your life podcast. I’m your host, Aimee Cerka. And today we’re talking about impulse spending, frivolous spending, and do you have to actually cut all of this out to get ahead financially, because there’s a lot of gurus that will talk about that we’ll talk about, you know, cutting all your spending, we’ll talk about no spend challenges talked about cutting your coffees, and your eating out and all the fun stuff that you do. And get no, like, that’s just not going to fly here. That’s not how I operate. That’s not how I’ve helped so many people get to unstoppable finances like that doesn’t work long term, from what I’ve seen in my experience.
I mean, there are, of course, those out there that are kind of like the eyeballs if they can make it happen anyways, right? But we’re not talking about that we’re talking about you, the one who doesn’t want to have to get rid of all that to actually get ahead financially. And the fact that you feel like you have to cut that makes you not want to budget and you do not want to look at your expenses makes it overwhelming all those things.
How To Stop Frivolous Spending
So what do you need to cut? When it comes to impulse spending or frivolous spending, right? We need to cut spending that your budget can’t support, which means we have to know when to have a budget, we have to know what our budget can support like, did you catch that this kind of the key there. So we can’t continue to spend in a way that your budget cannot support.
But your budget can support some impulse spending. And if it doesn’t, like you and I have a problem, like we need to work on this, because you can do this, you can still impulse buy and you can have some fun with your money. Um, but yeah, like we go into this in depth inside the impulse spending challenge, but like, really, you can still be impulsive. And your budget should be set up to scale with you. As your income grows, it should be set up to handle inconsistent income. And it should be set up to be systematic.
Now, a systematic budget does not just mean tracking expenses. Tracking expenses is part of the budget, but it’s not actually budgeting. Because tracking expenses happens after the fact. So if you have a budgeting app that you’re tracking your expenses and you’re not budgeting, there’s a difference there. So the key here is cutting spending that our budgeting can’t support because we have a budget and we know what it can support. So we’re going to cut the spending. The budget can’t support another spending category of impulse spending because we’ll categorize our impulse spending.
This episode of the Your Money Your Life podcast is brought to you by Impulse Spending Like a Pro: The Right Way series. Ready to learn the right way to impulse spend, because not all impulse spending is bad? This video series might be just for you. Inside of these videos, you’ll learn what impulse spending is and the right way to impulse spend, what you need to keep, what you need to ditch, and how to put it all together, so that you can impulse spend the right way. To check out the free Impulse Spending Like a Pro video series and step into unstoppable finances with spending that works for you, your money, your life, simply text “impulse” to 817-969-4653 or visit aimeecerka.com/impulse. And of course, you need that link again, it’s in the show notes for you.
Another category we should cut is spending that is harming our relationships. Inside Budgeting Simplified, inside the Academy, really everywhere, we talk about having blown money accounts, His and Her blown money accounts, especially if in your relationship, they need to be equal when it comes to income levels. But you both have those funds of money designated for you to go spend on whatever you want as long as it’s legal, moral, and ethical. Because typically one of us is a spender, one of you as a saver. And that’s typically the source of one of these problems if it’s harming a relationship like that. And we need to really look at that and see again, is the budget, is the system set up correctly, like it needs to be to serve you. And if it is, and we’re still spending outside of that, that’s really when we need to take the introspective look, we need to look at the reasons. Why? What is the trigger that’s helping us or wanting us to be able to spend? Do we feel like we deserve it? Is it a stress outlet? What is going on in our mindset behind it again that’s causing harm in the relationship so we can really get to the root process there. Okay, so we’re cutting spending that our budget can’t support.
Frivolous Spending Effecting Relationships
We’re cutting spending, that’s harming relationships. But we’re keeping the spending that is nourishing you.
So, I was working with a client probably about a month or so ago. We were talking about a discovery type call, seeing if it would be a good fit for us to continue working together. She was like, “I don’t want to give up this type of spending that I have,” like my, I don’t remember what it was at the top of my mind at the moment. We’ll just say it was like her, I know it wasn’t Starbucks, but that is the only thing that’s coming to mind, which is really ironic because, you know, I don’t drink Starbucks.
So, her drink, her treat to herself, she’s like, “I don’t want to give that up.” Like, you don’t have to. Like, I want you to keep those things that are nourishing you, that are helping you feel good, that you feel rewarded, that you feel that you’ve earned, you’ve done the work, you’re doing these things, and you’re rewarding yourself. You feel nourished afterwards. We’re not talking about going and spending. Like, honestly, we can set up the mindset and do all these things that you feel just as good when you pay a bill as you do when you go do something fun. And that’s something that we work on inside the academy.
But if you’re doing this thing and treating yourself, and you feel good about it, keep that spending because we allow for it and we designate a spot for it within your budget because of how important it is. So, we’re keeping spending that’s nourishing you, we’re keeping the spending that’s improving your relationship with money. Because we have to do the fun things. This is why long term, the no spend challenges and the cutting expenses doesn’t work. Because we have to feel good about our relationship with money.
If there is an energy there between you and if you dread looking at your bank account, if you dread doing your budget, if you dread doing all the things that are associated with money, and you dread your relationship with money, it’s not going to be attracting more to you. You’re not going to be in a positive position. Yes, you have to go out and do the work. But there’s a lot of mindset and the way that things are done that we have to balance. This is why we balance so much of this. Yes, you have to take the tangible steps. We have to understand the mindset behind it, but we still have to take the tangible steps. It’s not just all “Whoo!” And it’s not just all action because you can take action all day long and have an amazing budget and have a crappy relationship with money. You’re still not going to get ahead long term because you haven’t figured out the mindset piece.
So that’s why I need you to keep the impulse spending, but as improving your relationship with money when you feel good about it, but you got to do these things. Of course, we know your budget can support it, so we can feel good about it, we can release the guilt, we can release the judgment, we can release the overwhelm, there’s none of that there. It’s your money, your life, right? Your Money Your Life, you get to decide what to do with it. But when you’re intentional, and you create the system to set you up for that prosperity, for the wealth for the abundance on autopilot, that you feel good about your money, you feel good about the relationship with money, you’re not coming back and like, Okay, well, we’ve racked up a lot of credit card debt again.
So we’ve got to do this, you’re not in that cycle. You’re making that forward progress consistently. Because we’ve set you up for long term success. And it’s like the analogy of the penny doubling every day, it doesn’t feel like you’re gaining momentum in the beginning. And then all of a sudden, you can’t believe where you are. And the penny doubled. Every day analogy, it’s 30 days later, if you haven’t heard this analogy, they give you an option either try and reward the other option is you take so over a period of 30 days, you’re getting a chunk of money, and I don’t remember what I think it’s a million dollars, shake a million dollars, or a penny doubling every day. So, That’s why I need you to keep the impulse spending, but as improving your relationship with money when you feel good about it, but you got to do these things. Of course, we know your budget can support it, so we can feel good about it, we can release the guilt, we can release the judgment, we can release the overwhelm, there’s none of that there. It’s your money, your life, right? Your Money Your Life, you get to decide what to do with it. But when you’re intentional, and you create the system to set you up for that prosperity, for the wealth for the abundance on autopilot, that you feel good about your money, you feel good about the relationship with money, you’re not coming back and like, Okay, well, we’ve racked up a lot of credit card debt again. So we’ve got to do this, you’re not in that cycle. You’re making that forward progress consistently.
Because we’ve set you up for long term success. And it’s like the analogy of the penny doubling every day, it doesn’t feel like you’re gaining momentum in the beginning. And then all of a sudden, you can’t believe where you are. And the penny doubled. Every day analogy, it’s 30 days later, if you haven’t heard this analogy, they give you an option either try and reward the other option is you take so over a period of 30 days, you’re getting a chunk of money, and I don’t remember what I think it’s a million dollars, shake a million dollars, or a penny doubling every day.
So on day one, you get one penny on day two, you get two, on day three, you get four cents. On day four, you’re gonna get eight cents, and day five, you’ll get 16 cents, and it doubles each and every day. So it feels really slow in the beginning. But by the end, you make way more money with the penny doubling every day. But it’s not until the end that you see all of that progress. And it really racks up where as if you would have just taken that set amount, you really end up losing. And that’s really how it feels like we do these like no spin challenges. There’s nothing wrong with cutting something out for a little bit, if you have the right intention behind it. But for most of us, we don’t. It’s just they’re trying to get ahead with the budget. They’re trying to do something trying to make that progress to try to get the ball rolling. And I don’t think that no spend challenges are the way to do it. So let’s keep this spending this nourishing, you keep the spending that’s improving your relationship with money, we will cut the spending that your budget can’t support, and we are going to cut spending that’s harming your relationships. So within that, you have to know what your budget can support. And there we have it.
Do you have to cut all impulse spending to get ahead financially? Of course not. And now you know what you can do, what you should do, what you need to do. If I’d love to hear your insights. So, your challenges for today send me a message on Instagram or let me know if you’re like yes, I’m totally with you, Aimee. What the heck are you talking about? Aimee somewhere in between? I want to hear @aimeecerka send me a message. I can’t wait to talk to you, and we’ll see you next week for another episode of the Your Money Your Life podcast. Bye for now, thank you so much for listening to the Your Money Your Life podcast.
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