Worry-Free Money by Shannon Lee Simmons

Author:Shannon Lee Simmons
Language: eng
Format: epub
Publisher: HarperCollins Canada
Published: 2017-11-03T16:00:00+00:00

Happy Spending makes sticking to a financial plan easier because reductions in spending don’t hurt as much. Your Hard Limit is how you stop budgeting, and Happy Spending is permission to spend your money so you can start living. This combination will allow you to live within your means without resenting the financial plan.

Screening Out Unhappy Spending

Now you have your Hard Limit figured out and you’ve listed your Happy Spending. All that’s left is to banish Unhappy Spending from your life and your finances will fall into place by themselves. Sounds easy, but not so fast! Unhappy Spending can be unconscious or, most of the time, habitual. It sometimes stems from obligations and often comes with guilt and fear attached, which makes it harder to cut than you may think. That’s why it’s important not only to recognize where your Unhappy Spending lies but also to understand what drives you to make those purchases with low EROI.

After years of asking clients to identify their Unhappy Spending, I have found that the following are usually the reasons behind the least gratifying purchases/expenditures of all:

•Social Obligations: maybe there’s a shower, work party or annual event that everyone else in your social group is attending; not attending makes financial sense, but the guilt you feel for missing it is intense. You feel like a bad friend, a bad parent, a bad family member, a bad partner.

•Inadequacy: spending money under the Inadequacy Influence. You’re feeling that you are not attractive, interesting, fit, smart, fun or exciting enough, so you spend money to feel better about yourself. Like the new work dress you bought because you felt like you’d been wearing the same thing every day and felt insecure around your co-workers.

•F*ck-It Moments: when you have no willpower left to say no and end up throwing money at a problem to make it go away. Maybe you’re tired or hangry (so hungry you’re angry) and retail therapy feels like the solution. This usually shows up as overspending on taxis, takeout, parking tickets, treats and sometimes major purchases that result in huge buyer’s remorse.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.