341. 10 Ways to Take Back Control of Your Money

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Do you find yourself engaging in retail therapy when you're bored, stressed, or upset? Are you frequently forgetting what you've ordered from Amazon as packages show up at your door? This episode of the Debt Free Dad podcast is here to help you curb those mindless spending habits. I'm Katie, your host, and today I'll share 10 actionable tips for shifting to intentional spending. From understanding your spending triggers to tracking every dollar, avoiding impulse buys, creating a value-driven budget, and more, these strategies will help you align your money with your values and reduce financial stress. Tune in to learn how to take control of your finances and make purposeful purchases. 

Chapters

• 0:00 The Mindless Spending Problem
• 1:37 My Journey from Debt to Freedom
• 2:16 Tips 1-3: Finding Your Why
• 3:34 Tips 4-7: Budgeting and Subscriptions
• 5:30 Tips 8-10: Education and Progress
• 6:54 Simplify My Money Newsletter

Transcript

Katie Hatfield: 0:00

Do you tend to find yourself using retail therapy when you're bored, stressed or upset? Do Amazon packages show up regularly at your doorstep and you can't even remember what you ordered? Do you come home from the store having stocked up on items, only to find a half dozen of them already in your pantry or linen closet? Stay tuned for ways to curb mindless spending habits closet. Stay tuned for ways to curb mindless spending habits.

Katie Hatfield: 0:31

Thank you for listening to the Debt-Free Dad podcast, where we help everyday, normal people like you take control of your finances and live a happier, less stressful life. I'm Katie, your host for today's episode, and I've been on my journey to debt freedom for about six and a half years now, and in that time I've paid off over $216,454 in student loans, car loans, medical bills and credit card debt all on a single income. Before taking control of my own finances, I used to be a mindless spender. I wasted a lot of money at the dollar bins and wandering the aisles of Target. Having my credit card details saved on my web browser made clicking that online checkout button just a little too easy after a grueling day at work. Every time I took a trip, I would spend so much money on souvenirs that now sit untouched in boxes in my basement.

Katie Hatfield: 1:28

Shifting from mindless spending to intentional spending is all about becoming more aware of your spending habits and aligning your money with your values. Here are 10 solid tips to help you make that shift. Number one you need to get clear on your why. Figure out your purpose, what you want to spend your money on more intentionally. Is it to save for a home, to travel more, to reduce your overall stress levels? Having a meaningful goal makes it easier to say no to impulse buys. Is this item going to add to your life or add to your clutter? Number two track every dollar, at least for a couple of months. Use an app, spreadsheet, notebook. Just track where your money is actually going. You might be surprised how much goes to small, forgettable purchases. Did you know it only takes less than $28 a day of mindless spending to waste over $10,000 a year? It really adds up fast.

Katie Hatfield: 2:36

Number three here we would say WWBD. What would Brad do? The 24-hour rule means before you are making any non-essential purchases, wait 24 to 48 hours. Ask do I really need this? Will I still want this in a week? This helps you separate desire from impulse and you also want to pay attention to how you're feeling in that moment. Are you bored, sad, feeling insecure? Maybe you're overly excited? Are you looking for relief or a reward in that moment? Would something else other than spending money make you feel better? Other than spending money make you feel better? Taking a walk, talking to a friend, a nap, a snack?

Katie Hatfield: 3:35

Number four build a budget that reflects your values. Budgeting doesn't mean you have to restrict things. It just means prioritizing. If you love coffee or, in my case, tacos budget for it. If you love coffee or, in my case, tacos budget for it. Don't really care about clothes, okay. Spend less money on that aspect of your budget and spend on what truly matters to you, not what just looks good on Instagram. Sometimes you just have to trim a little bit. When I travel now, instead of buying something that needs to be displayed or isn't really functional and takes up a lot of room in my suitcase, I actually get something small like a sticker to go on my suitcase, a refrigerator magnet or a Christmas ornament.

Katie Hatfield: 4:15

Number five unsubscribe, unfollow and delete. Marketing works, so you need to take back control. You need to unsubscribe from those sales emails that flood your email every morning. Delete the shopping apps, or at least shut off those notifications when a sale pops up. Unfollow the influencers who make you want to buy stuff that you don't really need out of sight, out of mind, out of your cart. Number six if you do have a bunch of subscriptions, audit them every month. Streaming apps, memberships, those sneaky recurring charges add up. So every month, when you're going through your bills, ask yourself am I still using this and am I using it to its full potential? Cancel what's not adding value to your life anymore.

Katie Hatfield: 5:13

Number seven celebrate non-spending wins. Did you skip takeout and you cooked at home instead? That's a win. Notice and reward those moments that you made an intentional choice. That means you're building a new habit.

Katie Hatfield: 5:30

Number eight educate yourself about money. Sometimes we spend mindlessly just because we haven't learned any other way. And if what you're doing now isn't working, why not give another way a try? Read personal finance books, listen to podcasts like the Debt-Free Dad, or follow content creators who align with your goals. The more you know, the more power you have.

Katie Hatfield: 5:58

Number nine talk about money with yourself and with others. Normalize having regular check-ins. When you have to have a discussion with yourself, ask how do I feel about how I've been spending this week. If you're talking to a partner or a friend maybe an accountability partner Share your goals, what did you struggle with and celebrate your progress for the week and, last but not least, number 10. Remember that progress is more important than perfection. You are human. You will still buy things that you don't really always need, and that's okay. The key is to catch the pattern early and make your adjustments right away. If you want to help building a simple spending plan or a visual tracker to stay intentional with your new mindset and habits, we offer great resources on debtfreedadcom.

Brad Nelson: 6:54

Check it out Now listen if you're ready to break free from living paycheck to paycheck which, if you're listening, I hope you are. You want to reduce financial stress. You want to build savings. You want to finally pay off debt for good, but you're not sure where to get started. Don't worry, we've got you covered here at Debt Free Dad. Simplify my Money is sent each Sunday to your email. We make it easy and Simplify my Money. It's your step-by-step roadmap to better financial control, and you're also gonna learn easy to follow strategies to manage your money effectively. You're gonna get stress-free money decisions that will help you simplify your financial life with proven tips that actually work. You're also gonna gain the tools and the confidence to tackle your financial goals head on. You can sign up for Simplify my Money by clicking the link at the top of the show notes. Thanks for joining us on.