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The psychology of spending: How to manage finances wisely

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16 September 2024 10:33 (AEST)

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This week on Money & Investing, Mitch Olarenshaw and I take a deep dive into the psychology of spending and its effect on your financial future.

1. Impulse spending: Triggers and consequences

We begin by exploring the triggers behind impulse spending. Is it simply an urge or a way to fill an emotional void?

Learn how impulse buying can derail your financial success and how to identify these patterns.

2. Budgeting: Laying a strong financial foundation

We discuss the importance of budgeting and developing long-term financial plans.

Get practical tips on avoiding common spending traps and how to replace bad habits with more constructive ones.

3. Gamifying your finances

Finally, we explore how to make budgeting more engaging through gamification.

Discover how turning financial planning into a game can help you stay committed to your goals while still enjoying life.

For more Info about Money and Investing you can go to the podcast; The Wealth Playbook: Your Ultimate Guide to Financial Security, and The Wealth Playbook on Audible.

Disclaimer: Wealth Magnet Pty Ltd (ABN 52 618 868 830) trading as Australian Investment Education is a Corporate Authorised Representative (CAR no. 1255231) of Grange Financial Services Pty Ltd (AFSL No. 488609).

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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