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How to Identify Your Spending Triggers and Control Emotional Spending

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Has your wallet taken a hit? Are you ready to stop the money leaks? Find out what your spending triggers are and how you can fight back on today’s show.

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Fighting Emotional Spending

Last week I mentioned how you can reboot your finances with one simple trick – track your spending on a daily basis.

One of the biggest reasons we break our budget is overspending. There are cases of major purchases killing our savings, but more common are impulsive buys we make that on their own aren’t too bad, but when combined can empty our savings account and can cause us to feel stressed out.

Harris Interactive found around 53% of people they surveyed admitted they made purchases to celebrate an occasion.

On average, an  American adult has $4,717 of credit card debt yet 63% of Americans do not have enough in the bank to cover a $500 emergency.

Does any of this sound familiar?

Chances are if you’re listening to this podcast you’re looking to do better. So how can you break the cycle?

Tarra Jackson, also known as Madam Money is here to share her story.

In this episode we get into:

  • how she knew she had a spending problem
  • the triggers that pushed her and how she began fixing them
  • resources to that helped her and which you should look at together

Hope you enjoy!

Resources to Gain Control Over Your Spending

If you two are ready to fight those spending triggers, here are some resources to check out:

Thank You to Our Partners

Support for this podcast comes from partners like Personal Capital. Easy to set up & easy to use. You can have all your investments, income, and expenses all pulled into one place.

Did I mention it’s free? Why don’t you give Personal Capital a try today?

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere  and Logan from Music for Makers in this episode.

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