Have you ever bought a new make up item from Sephora or a pair of heels to cheer yourself up? Chances are, you did, because money is meant to be enjoyed, and it is one of the tools we use to make ourselves feel better.

So in this week’s episode, we talk about all things emotional spending. Is it good or bad? When does it become an issue? How can one identify this pattern in their behaviour, and what techniques can we use to take it under control?

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Key Takeaways:

• 00:20 Greetings from New York City
• 2:15 How much did I make in my first paid job & what I spent it on
• 5:00 What is Emotional Spending?
• 5:30 Money is meant to be enjoyed
• 6:25 Stats you didn’t know
• 7:00 When emotional spending becomes a problem
• 8:35 Spoiler alert for I ADAPT YOU Academy course
• 9:28 2 ways to know if you are hooked to emotional spending
• 11:20 How to get emotional spending under control
• 12:00 Technique #1: What is at the root of your purchase desire?
• 13:05 Technique #2: Evaluate the worth of the item
• 14:10 Technique #3: Does it have a long-term positive impact on your life?
• 15:10 24-hour rule
• 15:40 4 bonus tips from Sofiia’s shopping routine

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Have a personal finance question or a situation you're unsure how to deal with? Leave me a voicemail here - I will make sure to offer you answers in the episodes to come!