1 00:00:03,440 --> 00:00:06,720 Speaker 1: Welcome to Before Breakfast, a production of I Heart Radio. 2 00:00:09,119 --> 00:00:14,960 Speaker 1: Good Morning. This is Laura. Welcome to the Before Breakfast podcast. 3 00:00:15,880 --> 00:00:20,759 Speaker 1: Today's tip is to take a spending pause. Choosing not 4 00:00:20,880 --> 00:00:24,439 Speaker 1: to spend money on anything that isn't absolutely necessary for 5 00:00:24,520 --> 00:00:28,800 Speaker 1: a little while can offer a good reset and remind 6 00:00:28,880 --> 00:00:33,560 Speaker 1: us of what we really care about. So I experienced 7 00:00:33,600 --> 00:00:36,400 Speaker 1: an inadvertent spending pause a few weeks ago due to 8 00:00:36,520 --> 00:00:39,960 Speaker 1: some credit card issues. I've long had just one card 9 00:00:40,000 --> 00:00:42,280 Speaker 1: because I like to keep life simple, but when the 10 00:00:42,360 --> 00:00:44,760 Speaker 1: number was compromised, it then took a while to be 11 00:00:44,840 --> 00:00:47,559 Speaker 1: issued a new card, which the credit card company then 12 00:00:47,600 --> 00:00:50,640 Speaker 1: put another hold on a couple days later. This took 13 00:00:50,800 --> 00:00:54,240 Speaker 1: multiple calls to customer service to sort out, and meanwhile 14 00:00:54,600 --> 00:00:58,319 Speaker 1: I was shut out from the modern digital economy. This 15 00:00:58,440 --> 00:01:01,720 Speaker 1: was going on during all the Friday and Cyber Monday sales, 16 00:01:01,760 --> 00:01:05,560 Speaker 1: which meant that shopping was a challenge, so I pretty 17 00:01:05,640 --> 00:01:08,880 Speaker 1: much sat the sales out. If an email from a 18 00:01:08,959 --> 00:01:11,080 Speaker 1: merchant interested me, I made a note of it, and 19 00:01:11,160 --> 00:01:14,200 Speaker 1: in one case I had my husband purchased something because 20 00:01:14,200 --> 00:01:17,120 Speaker 1: our daughter had requested it as a Christmas present, and 21 00:01:17,160 --> 00:01:21,000 Speaker 1: I knew that retailer almost never had sales but it 22 00:01:21,040 --> 00:01:23,920 Speaker 1: turns out that most stores that have Black Friday sales 23 00:01:24,280 --> 00:01:27,600 Speaker 1: have other sales, and if you buy something you wouldn't 24 00:01:27,640 --> 00:01:30,959 Speaker 1: have bought, you're negating almost all the discounts you're getting 25 00:01:31,120 --> 00:01:34,680 Speaker 1: on things that you would have bought anyway. Now, I 26 00:01:34,760 --> 00:01:38,320 Speaker 1: was not happy about my forced pause, but I also 27 00:01:38,360 --> 00:01:42,920 Speaker 1: realized that a chosen spending pause might not necessarily be 28 00:01:43,000 --> 00:01:47,600 Speaker 1: a bad thing. It is very easy to spend money online, 29 00:01:48,360 --> 00:01:51,200 Speaker 1: and even if the dollar figures themselves aren't that much 30 00:01:51,200 --> 00:01:53,760 Speaker 1: in the grand scheme of things, it's easy to wind 31 00:01:53,840 --> 00:01:57,120 Speaker 1: up with stuff that you don't desperately need or even 32 00:01:57,280 --> 00:02:02,200 Speaker 1: desperately want. Making spending a little harder can increase the 33 00:02:02,280 --> 00:02:04,640 Speaker 1: chances that you wind up with stuff that is well 34 00:02:04,680 --> 00:02:07,800 Speaker 1: thought through. So if you are looking for a way 35 00:02:07,840 --> 00:02:10,840 Speaker 1: to change things up in the new year, consider if 36 00:02:10,919 --> 00:02:14,880 Speaker 1: you might make spending a little harder. One obvious way 37 00:02:14,919 --> 00:02:17,320 Speaker 1: to do that is to not save your credit card 38 00:02:17,360 --> 00:02:22,000 Speaker 1: or shipping information anywhere, except for say, online groceries. You 39 00:02:22,080 --> 00:02:24,240 Speaker 1: do need to eat, so no need to make that 40 00:02:24,280 --> 00:02:27,799 Speaker 1: take longer than necessary. But by forcing yourself to re 41 00:02:28,080 --> 00:02:31,359 Speaker 1: enter the card number and your address, you build in 42 00:02:31,440 --> 00:02:36,040 Speaker 1: some time between wanting something and actually getting it. You 43 00:02:36,120 --> 00:02:40,399 Speaker 1: might also put your cards somewhere mildly and convenient, particularly 44 00:02:40,440 --> 00:02:43,000 Speaker 1: if you're working from home, if you don't have your 45 00:02:43,040 --> 00:02:45,200 Speaker 1: numbers memorized and you have to tromp up to your 46 00:02:45,240 --> 00:02:47,919 Speaker 1: bedroom from your desk to grab a card. This can 47 00:02:47,960 --> 00:02:52,040 Speaker 1: minimize impulse purchases too. Or you can commit to an 48 00:02:52,080 --> 00:02:56,400 Speaker 1: actual pause for a few days, buy your groceries, put 49 00:02:56,440 --> 00:02:59,000 Speaker 1: gas in your car, and then challenge yourself not to 50 00:02:59,000 --> 00:03:04,240 Speaker 1: buy anything until you're specified date. Now, this doesn't always work. I, 51 00:03:04,400 --> 00:03:06,359 Speaker 1: for one, am not going to refuse to sign my 52 00:03:06,440 --> 00:03:08,640 Speaker 1: kids up for something they want to do. Or if 53 00:03:08,639 --> 00:03:10,880 Speaker 1: we run out of diapers, there's no real good way 54 00:03:10,919 --> 00:03:14,359 Speaker 1: of making do so. Sometimes you do have to take 55 00:03:14,400 --> 00:03:18,720 Speaker 1: a pause from the spending pause. But again, it's not 56 00:03:18,840 --> 00:03:23,720 Speaker 1: about not spending any money. Money is great, it's a 57 00:03:23,760 --> 00:03:27,040 Speaker 1: tool to build the life you want. Instead, this is 58 00:03:27,080 --> 00:03:31,600 Speaker 1: about making sure that money is spent mindfully and on 59 00:03:31,720 --> 00:03:36,400 Speaker 1: things that we do want or need. I took Black 60 00:03:36,440 --> 00:03:38,840 Speaker 1: Friday and Cyber Monday to think through what I wanted 61 00:03:38,880 --> 00:03:41,640 Speaker 1: to get my family members for Christmas, and once I 62 00:03:41,760 --> 00:03:44,640 Speaker 1: finally had a functioning credit card again, I was able 63 00:03:44,680 --> 00:03:48,680 Speaker 1: to efficiently make my purchases without a lot of second guessing. 64 00:03:49,600 --> 00:03:55,200 Speaker 1: That felt like a win. In the meantime, this is Laura. 65 00:03:55,320 --> 00:03:58,640 Speaker 1: Thanks for listening and here's to making the most of 66 00:03:58,680 --> 00:04:08,080 Speaker 1: our time. Hey, everybody, I'd love to hear from you. 67 00:04:08,080 --> 00:04:10,960 Speaker 1: You can send me your tips, your questions, or anything else. 68 00:04:11,720 --> 00:04:15,280 Speaker 1: Just connect with me on Twitter, Facebook and Instagram at 69 00:04:15,320 --> 00:04:20,200 Speaker 1: Before Breakfast pod. That's b E the number four, then 70 00:04:20,240 --> 00:04:23,640 Speaker 1: breakfast p o D. You can also shoot me an 71 00:04:23,640 --> 00:04:27,479 Speaker 1: email at Before Breakfast podcast at i heeart media dot 72 00:04:27,480 --> 00:04:30,400 Speaker 1: com that Before Breakfast is spelled out with all the letters. 73 00:04:31,040 --> 00:04:33,119 Speaker 1: Thanks so much, I look forward to staying in touch. 74 00:04:38,960 --> 00:04:42,040 Speaker 1: Before Breakfast is a production of I Heart Radio. For 75 00:04:42,160 --> 00:04:45,200 Speaker 1: more podcasts from I heart Radio, visit the I heart 76 00:04:45,240 --> 00:04:48,640 Speaker 1: Radio app, Apple Podcasts, or wherever you listen to your 77 00:04:48,640 --> 00:04:49,320 Speaker 1: favorite shows.