167. Why I’m Taking a Break From Shopping (And What It’s Teaching Me About Overspending)
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
26 min
1 speaker
5 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. Okay. So I've been doing something over the last couple of months and I want to share it with you all today. And I'm excited to share it. At first, I was just like, maybe I'll talk about it once I'm finished. But I decided that this was the perfect time to share.
And so here it is. I have been taking a break from shopping. This started January 1st and it's going all the way through July 1st. And it's not because I'm in debt or because I messed up or because I'm just really overspending. It's because of what I've been noticing. So every month I give myself a set amount of personal spending money and I teach my clients how to do this same thing. Now, I wasn't going over that money at all, but I found myself spending pretty much all of it, which is fine because that's what it was for. But when I look back at where that money was going, it was so random. It was on clothes I didn't need, things I had already had versions of, and a lot of it was just boredom shopping, right?
I was in a town that had a Marshall's and I just went in because I needed to kill time and And boom, here I am. I have a whole bunch of new stuff that sometimes just sit in the bag and I forget all about them until I'm like, oh, what's in here? And then I see it and maybe I wear it, maybe I don't. And on top of that, when I look ahead at the next six to eight months of my life, I have a lot of things going on. A lot of cool things to look forward to. And they all cost thousands of dollars. I have a graduation party that I'm planning. I'm taking my son on a senior trip with his class. And we have a nice vacation planned for our family for the summer. And I thought... I can keep spending this money randomly and figure out all these other things as I get closer to them, or I could be proactive.
And this is the conversation I started to have with myself at the end of last year. I was thinking about all of this, the random shopping, the things that I had coming up, and I decided that I didn't want to just wing it. I didn't want to just figure it out as I got closer. I didn't want to do the things that I talked about in episode... 164 and 165, which was being reactive versus proactive with my money management.
Why did Jermaine decide to take a six-month break from shopping?
So that's what I decided to do. So I will tell you guys at the end of 2025, I knew this was coming and I toyed around with how long and I came up with a number this way because I know what my triggers are. My triggers are if I ever have like a work trip to go on, I find myself buying something, something new to wear. If I have a vacation, oh my gosh, it's like, I think I need a new wardrobe every time I go somewhere. And I hardly ever get to wear all the cool summer clothes that I have throughout the year. So it's just like, why not just wear what you already have? So I have a method to my madness on why I chose the six month timeframes. One was because I wanted to challenge myself and grow around my spending triggers.
I knew I had like three different work trips coming up and two vacations. And I wanted the break from shopping to last through all of those because I feel like that's really going to build my muscle and give me the reset that I need. And we'll talk more about that in a minute. And again, I have all these things coming up and they all go into that timeframe, which is July 1st. We actually come back from our family vacation on July 4th. So that would take me all the way through. And I have been doing very, very well. I don't think I've made a slip up once. Not one time have I slipped up and it's been exactly two months. So we've gone through all of January and we've gone through all of February and
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–3:21
2
Why did Jermaine decide to take a six-month break from shopping?
3:21–6:24
3
How did Jermaine identify her personal overspending patterns and triggers?
6:24–10:33
4
What are the financial goals Jermaine is protecting by pausing shopping?
10:33–14:44
5
How is this shopping break an example of proactive versus reactive money management?
14:44–26:50
Speakers
1 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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186. Why Making More Money Can Still Leave You Feeling Behind
185. Your Past Money Habits Created Your Current Financial Life
184. Why Money Keeps Coming In and Going Right Back Out