#80 BSS - Curb Overspending by Focusing on Your Big Goal

Episode 80 · September 6th, 2022 · 22 mins 53 secs

About this Episode

One of the most common mistakes a person can make when it comes to money is overspending. We sometimes spend money mindlessly without knowing what causes it until it's too late.

So if you're wondering

  • How to recognize and identify the triggers that make you spend mindlessly
  • How setting up and staying focused on your big goals help control overspending
  • How to not feel deprived and restricted by your spending plan
  • How to let go of perfectionism

Then this episode is for you, so make sure to jot down these golden nuggets that are being shared!

Hosting Today:

I'm Ashley Patrick, ex detective turned debt-free CEO of my very own business and stay at home mom of three. Not too long ago, my dreams of staying at home with my kids seemed impossible. I thought I'd have to stay miserable in a high stress demanding job, just so I could retire someday.

After gaining the confidence in my own ability to manage my family's finances and a simple step-by-step plan to make it happen, I was able to pay off $45,000 in just 17 months, which then allowed me to finally quit my job, stay at home with my kids, and build a debt-free business.

Now, my mission is to help moms like you conquer debt and free themselves from the mental load of handling their family's finances.

“You're going to have to keep reminding them and yourself of what your bigger goal is and know that you're going to screw up from time to time. You're still going to impulsively spend. I mean, that's, that's just normal, but if you keep building up those wins over time, you're going to get there and they're going to become less and less and you're going to make the progress that you want to make, especially when you have that clear goal.”
-Ashley Patrick

Timestamps
01:19 - Meet Jen
03:03 - Jen's financial struggles
04:30 - What triggers her to impulsively spend?
05:31 - Recognizing the triggers and putting up roadblocks between spending money
07:04 - How setting up goals help control impulse spending
10:49 - How using visuals and reminders help you stay focused to reach your goals
11:53 - How to set a realistic but timely goal
12:36 - Struggles with budgeting
13:49 - Creating a flexible spending plan
16:49 - Problems with being a perfectionist
19:12 - Give yourself permission to fail
20:24 - Jen's 24 hour goal

If you would like to sit down with me and discuss what you are struggling with and some steps that you can take to make progress and get over that big struggle, I invite you to sign up for your own Budget Strategy Session episode at budgetsmadeeasy.com/strategy and have a mini coaching session with me.

And if you enjoyed the podcast today and got some great takeaways, I’d really appreciate it if you followed the Money Mindset Podcast so you don’t miss out on future episodes

Resources and Links Mentioned:

Connect with Ashley: