EP263 How to Rightsize Your Spending
Throughout the pandemic, our budgets and spending habits changed immensely. We started ordering groceries online, added to our subscriptions, signed up for online courses, etc. As we gradually come out of the pandemic, many of us may not have taken the time to reevaluate our budgets, and with inflation hitting all-time highs, our money isn’t going as far as it used to. In this episode, I will be walking through some practical steps to ensure your budget is right sized—meaning you haven’t fallen back into old spending habits without removing any pandemic budget additions.
Listen in as I explain the importance of canceling any new additions from the pandemic that you may no longer be using and making room for the new food expenses, concerts, travel, etc. You will learn how to take a mindful moment before making a purchase, how to feel in control of your spending and debt, and more.
“Take time to review your spending and alter your budget.” – Tracey Bissett
This Week on Young Money:
- Why it is essential that you review your budget frequently.
- How the pandemic has impacted our spending habits.
- How to ensure you’re not paying for subscriptions you don’t use.
- Findings from a recent study on spending in Canada.
- How to take a mindful moment to decide if you really need to buy what you’re about to buy.
Key takeaways:
- Create a budget.
- Review your spending.
- Be mindful with purchases.
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