Published Jul 8, 2024

Fool-Proof Ways to Get Your Spending In Check

Rachel Cruze unpacks the concept of 'spaving' and offers insights on avoiding the traps of aspirational spending. She provides valuable strategies for realistic budgeting, addressing psychological spending behaviors, and adapting budgets for life's changes to ensure financial health and stability.
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Episode Highlights

  • Spaving Explained

    Spaving, a blend of spending and saving, is a buzzword that describes spending money with the intention of saving. explains that while some forms of spaving can be beneficial, others are merely marketing tactics designed to make you spend more on unnecessary items 1. For instance, the allure of free shipping often leads consumers to add more items to their cart to meet the minimum purchase requirement, which can result in spending more than intended.

    The truth is, it's always a strategy behind the scenes.

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    Rachel advises that instead of falling for these tactics, it's crucial to stick to your budget and only buy what you truly need 2.

       

    Impulse Traps

    Impulse spending often arises from spaving tactics, where the promise of saving money leads to unplanned purchases. highlights how free shipping offers can tempt shoppers to buy more than necessary, turning a simple purchase into a spree 3. This behavior is fueled by a scarcity mindset, where the fear of missing out on a deal drives excessive buying.

    You shouldn't have to scheme and strategize around just basic home supplies.

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    Rachel emphasizes the importance of being intentional with spending and sticking to a budget to avoid these traps 2.

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