Spending vs saving: finding the balance between YOLO and future you
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What is the balance between spending and saving?
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Hello, I'm Kate Campbell. And I'm Owen Rask. And you're listening to the Australian Finance Podcast.
A podcast where we talk about money, finance, investing and all that good stuff.
We're helping you invest your time and money better one podcast episode at a time.
Yes, so please subscribe if you like the series. And don't forget you can find us on social media. We're on all the platforms. Kate, where can people go?
You can find us on Instagram and Twitter at Rask Australia. That's R-A-S-K Australia.
And I'm Owen Rask on Twitter or Owen Rask AU on Instagram. Beware the imitators. People like to copy us. Without further ado, let's jump in to today's episode.
Owen, are you a spender or a saver? I'm probably a spender, Kate. What about you? I used to be a lot more of a saver for probably the past six years. And now I've probably become a bit more of a spender this year. Yeah, right. What makes you say that? I've been spending a lot more on experience this year.
Such as?
Going to a lot of shows and musicals and going out with friends a lot more, which I wasn't doing for quite a while because I was studying and working full time, which kind of made me be a saver by proxy because I didn't have any time to spend the money. But I'm definitely pivoting towards the spending part this year.
Right. Okay. Actually, I have noticed that in your behavior and in the way you speak as well. You've been saying, that's not too bad. Whereas in the past, you might've been a bit more aware. Welcome to this episode of the Australian Finance Podcast, where we talk about finance of all things. So if you haven't already subscribed, please subscribe on your favorite- podcast player. Kate, today we're talking about saving versus spending, and we get a lot of questions. This is a thing that a lot of people struggle with internally, whether they're spenders, they're like sieves, money hits them, it disappears, or whether they're savers and they have a lot of anxiety with spending money, so they end up saving more.
And it's a topic I haven't thought about too much recently, but after a few discussions with friends who were really talking about how do you actually find that balance, especially when you start learning about investing and you realize, oh, I actually want to put money aside each month, then it becomes a little bit harder to find that balance between spending and saving because you want to put money away for future you, but you also want to enjoy current you.
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Chapters
5 chapters
1
What is the balance between spending and saving?
0:00–8:27
2
What are the reasons behind our spending habits?
8:27–15:58
3
How can understanding needs vs. wants improve spending?
15:58–24:23
4
What emotional factors influence our spending decisions?
24:23–27:27
5
How does environment affect our spending behavior?
27:27–33:03
Speakers
2 identifiedMore from Australian Finance Podcast
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