How To Cut Back On Emotional Spending w/ Leslie Tayne

Have you ever bought something to make yourself feel better? Or splurged on something only to feel instant guilt afterward? We may not always realize it, but our spending habits are incredibly connected to our emotions; recognizing this can unlock some strategies for seeing the financial progress we desire! We're thrilled to share our conversation with Leslie about identifying our own emotional spending habits, how to curb them, and ways to engage in healthy spending patterns.

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• whether you’re spending has gotten a little out of control OR maybe you’re being too loud at the store about how outrageous the prices are and your friend keeps shushing you - you gotta ‘reign it in’. Grab that situation by the reigns, and just pull it back a little.Reigning it in:

Notable Notes:

Leslie H. Tayne, Esq. is a New York debt settlement attorney with nearly 20 years’ experience in the practice area of consumer and business financial debt-related services. She is highly accomplished in negotiation and settlements, and has gone up against large national banks, credit unions, collection agencies and multiple creditor legal representatives. We're excited to share some of our top questions and learnings from our time with Leslie!

• What is emotional spending?
  • Spending on items for emotionally charged reasons rather than out of necessity or intentionality
• How do you identify emotions that trigger spending?
  • Track your spending! Pay attention to what is prompting spending and how you feel before, during, and after
• What are some alternatives to emotional spending?
  • Identify healthy coping strategies for some of the common emotions that could lead to unnecessary spending
• How can you recover if you have made an emotional purchase?
  • Being kind to self
  • Write down what happened
  • Decide how you want to move forward - perspective of learning from this experience

Thank you Leslie for sharing your bill about your recurring purchases and how you negotiated EVERY.SINGLE.ONE.BILL OF THE WEEK -

• If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill
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Lightning Round:

Find out the different types of emotional spending from this Bustle article.What type of emotional spender are you!?

The Instant gratification spender

(This is Jen and Leslie! target, aldi, etc.)Shop to escape

Competitive spender

Trying to create a “new” you

Buy & Return

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