155. Holiday Spending Getting Out of Control? Here’s How to Enjoy the Season Without Overspending
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
41 min
2 speakers
4 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
You are listening to the Becoming the Wealthy You podcast with Jermaine Foley.
If you're a woman who makes good money in your career or business, but you're not building wealth like you want to, then you're in the right place. In this podcast, you'll learn how to stop overspending, break free from the cycle of debt, save lots of cash, and become the wealthy woman you were born to be. Let's dive in. Well, hello, everyone. Welcome back to the podcast. Listen, we are officially in the thick of the holiday season, and this is when spending can quietly go off the rails. A lot of us start December with the best intentions. We pace ourselves. We have a list. We check it twice. We're being mindful. But as the days get closer to Christmas, if you're anything like me, it becomes a sprint.
And we start saying things like, well, I've already spent this much. I might as well keep going or I'll deal with it in January or I'll figure it out later. And that's how we justify buying and spending, even though we know we're going off the rails, we know we're going over budget, and we know that there will be a consequence at the end of the road. And that is exactly why so many women wake up the day after Christmas with a financial hangover they did not want. So today, what I'm going to do is replay a conversation that I had with Allison Baggerly of the Inspired Budget Podcast. And this episode was so powerful. So if you heard it before, do not say, oh, I remember this from last year and just skip it.
Please don't. Listen to it again, because this is the refresher you actually need right now. Sometimes hearing something a second time is way more powerful than hearing it the first time. That's when things really, really start to sink in. So you're going to hear it this time with fresh ears. And I promise you, you'll take away something today that you didn't catch before. Now, for those of you who are listening to this episode for the first time, I want you to know that you're in for a game changing episode. This literally will be the difference between waking up on December 26th thinking, what did I do? Or waking up feeling proud of yourself for how you handled your money during the season because you have a choice.
You can do what you normally do if you're someone who overspends and you always feel regretful about it. You can do that again this year or you can do something different. So I believe that this episode will help you to do something different if you listen to it and you actually apply the things we say. Now, if you listen to it and you don't do anything different, then nothing different will happen, right? You actually have to apply the things we talk about. So one of the things that was really eye-opening during this conversation was when Allison shared that she noticed that on Christmas evening, the visits to her website spiked. She was so surprised by that. She was thinking it would spike later on closer to New Year, but it was actually Christmas evening.
I want you to imagine why that was. Let's think about that.
How does holiday overspending create a ‘financial hangover’ and when does it usually hit?
Think about what it means. People spend all December buying gifts. You get dopamine hits from that, right? And then everyone opens their gifts on Christmas morning and Christmas day. You get another big dopamine hit, seeing everyone excited and all of those things. And then as the excitement fades away, guess what happens? The crash hits that dopamine that you were getting. It's gone. And then here comes the crash. And by that time, people are sitting around thinking, oh, my gosh, what did I just do? And by Christmas night, those same people are online searching for things like how do I get out of debt and how do I fix my finances? Listen, this is the cycle I do not want you to repeat this year. I want you to enjoy the holidays fully, the gatherings, the parties, the food, the gifts, and the experiences.
I want you to do all of that, but without the financial crash that leaves you starting the year in recovery mode. And speaking of the new year, I have something special coming.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–3:35
2
How does holiday overspending create a ‘financial hangover’ and when does it usually hit?
3:35–23:37
3
Who is Allison Baggerly and what led her to start Inspired Budget?
23:37–40:49
4
How can you reframe budgeting so it feels empowering, not shameful?
40:49–41:29
Speakers
2 identifiedMore from Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
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