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How to stop spending money recklessly
What financial habits would you like to change? Find out how to stop spending necessarily and better manage your finances on this Queer Money® and then kick off your financial independence journey by getting your free copy of the 7-Step Credit Card Debt Slasher.
Top 3 financial habits people would most like to change
Wish you could stop spending money on things you don’t really value? You are not alone. According to a Capital One survey, unnecessary spending is the #1 financial habit people would like to change.
But that’s easier said than done in a society that encourages spending.
On this episode of Queer Money®, we offer nine tips to help you stop spending money on things you don’t really need, challenging you to get clear on your financial goals and identify your spending triggers. We discuss the benefit of removing digital wallet apps from your phone, scrubbing your social media feeds, and instituting a ‘purchase pause’ when you shop. Get more information on how to give every dollar a job, so you can spend money on what matters and save for the future!
Listen in for insight on our favorite budgeting apps and expense trackers :
Topics covered on how to stop spending money
- What brick-and-mortar and online retailers do to encourage unnecessary spending
- The top 3 financial habits people would most like to change
- 9 tips to help you stop spending money unnecessarily
- Why it’s crucial to get clear on your financial goals
- How to identify your spending triggers and plan to avoid them
- Why we recommend using cash only vs. debit or credit cards
- The benefit of removing digital wallet apps from your phone and credit card information from PayPal and other websites
- Why you shouldn’t shop for groceries when you’re hungry or shop online at night
- How a purchase pause helps you avoid unnecessary spending
- How social media apps and influencers encourage spending (and what to do about it)
- Our favorite budgeting apps and expense trackers
- How giving every dollar a job helps you spend on what matters and save for the future
Resources on how to stop spending money
- Capital One’s Post-Pandemic Financial Wellbeing Study
- COVID’s Impact on Your Financial Wellbeing on Queer Money® EP276
- ‘A Shocking Number of Millennials Are Going into Debt Just to Keep Up with Their Friends’ on CNBC
- 5 Effective Ways to Fight Spending Triggers on Queer Money® EP170
- Mint
- YNAB
- Goodbudget
- CreditWise
Connect with David and John
- Debt Free Guys on Facebook
- Debt Free Guys on Twitter
- Debt Free Guys on YouTube
- 7-Step Credit Card Debt Slasher
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe on iTunes
- Email [email protected]
Get more on how to stop spending money
- 6 Ways to Better Manage Your Money
- 30 Easy Ways to Find Extra Money
- 7 Critical Money Solutions You Need Today
We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.
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