spending

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We love to talk all about investing and finance and building wealth, but there's one topic we often overlook.

Once you've managed to grow your money, how can you spend it in a way that brings you joy?

Today, we'll be examining a study called "If Money Doesn't Make You Happy Then You Probably Aren't Spending It Right" that claims to have 8 principles to getting more happiness from your hard earned cash.

If you enjoyed this episode, please leave us a 5 ⭐️ rating & a review. As a smaller podcast, it would really help us to reach more people. Thank you!😇

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Thank you for listening to this episode of The Stocks and Savings Podcast, we really hope that you found it interesting.

And if you're new here - welcome! We're Andreea & Jamie, the 2 Chartered Accountants & couple behind the Instagram financial blog ⁠⁠⁠⁠⁠⁠⁠⁠⁠@stocksandsavings⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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See you next time! 🤗

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Timestamps: 00:00 Job and income 04:58 Factor 09:41 What a mess 12:58 Why are you BS spending?! 17:47 What's your problem?! 22:53 You need to budget 27:11 Please just do this 30:10 Your imported car is a problem! 33:26 Clean up this mess 37:50 Im scared for you 44:22 Hammer Financial Score

Florida Governor Ron DeSantis has officially entered the 2024 presidential race. He joins me to discuss his presidential announcement on Twitter Spaces and Donald Trump's recent attacks on his campaign.

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Joe Biden proposes a $6 trillion budget that would sink the economy and raise the national debt to record levels; the Biden White House continues to foster wokeness in America's military-industrial complex; and the Biden Administration decides to take China's word for it on the origins of covid-19.

Check out Ben's brand new weekly series, Debunked. Leftist theories debunked in 15 minutes or less. Only on The Daily Wire: https://utm.io/uc9er 

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Why do some people buy so much, while others shun that lifestyle for simplicity or to save? How do brands reach into our psyches to get us to pull out our wallets and credit cards? What are some of the motivations behind companies that try to appeal to our sense of social responsibility to get us to spend? Our guest is psychologist Kit Yarrow, PhD, an expert on consumer behavior and professor emerita at Golden Gate University in San Francisco. She studies why and how people shop and buy and how companies can best meet consumer needs.

APA is currently seeking proposals for APA 2020 sessions, learn more at http://convention.apa.org/proposals

If you've read a lot of personal finance advice, you know that it usually concentrates on what you can't do -- what you shouldn't buy and how you shouldn't spend your money. What it doesn't often offer is a vision of what all that scrimping and saving is for.

My guest today argues that while knowing how to save money is hugely important, it's important to know how to spend it too. His name is Ramit Sethi and he's the author of the book I Will Teach You to Be Rich. It's now out as a revised second edition, ten years after of the publication of the original. We begin our discussion going over what has and hasn't changed over the past decade when it comes to personal finance. Ramit then makes the case that living what he calls a "rich life," involves not just knowing where to cut back on spending, but where to increase it in places he calls "money dials." We then get into some practical ways to better manage your money to ensure you spend less in areas you don't care about, and more in those you do, including how to manage and pay off credit card debt, the bank accounts you need and how to set them up so that your finances are automated, and why you need to start investing today. We end our discussion on the idea that the big money decisions that many people ignore are more important than the small ones that get a lot of attention.

Get the show notes at aom.is/richlife.

The clothes we put on everyday tell a story about who we are to the world and can have a major impact on our emotions and mood. Cognitive psychologist Carolyn Mair, PhD, who created the psychology of fashion department at the London College of Fashion at the University of the Arts London, explains the psychology behind our fashion choices and why psychologists are needed to help solve some of the biggest challenges facing the fashion industry now and in the future.

APA is currently seeking proposals for APA 2020 sessions, learn more at http://convention.apa.org/proposals

SPEND ON THE THINGS YOU LOVE.
We all have an area of life we love spending money on. For me, it’s relationships. For you, it could be travel, food, wellness or something else. This is called your “money dial.” Once you figure out your money dial, you can spend intentionally on that rather than spending lots of money on everything. For this Five Minute Friday, I revisited a conversation I had with Ramit Sethi where he shared about his concept of “money dials” and how to spend money on the things that bring you joy. Ramit says that we should cut back spending on things we don’t care about but spend without apology on the area that makes us the happiest. We can also stop judging other people for having different money dials than us. Learn how to identify your money dial and how it can take your life to the next level in Episode 798.
In This Episode You Will Learn:
About the different “money dials” people have (1:40)
The most common “money dial” (2:03)
Ramit’s personal “money dial” (2:56)
What you should cut back spending on (4:18)
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