Become a Better Financial Decision-Maker with Jessica Moorhouse – EP 473

Welcome to 2025! Let’s kick off the year with what matters most—our decisions in our finances! Forget “good” or “bad” choices, doing your best is what counts. In this episode, Jen and Jill are joined by Jessica Moorhouse to remind us that every decision is a pivot in an unpredictable direction, but it’s not going to ruin you. They also highlight the importance of recognizing your internal relationship with yourself.

Frugality isn’t being cheap, it means spending within our means and values.

#FrugalFriendsNote

Sponsors:

Your Last Chance. This is your last chance to pre-order our new book Buy What You Love Without Going Broke and get access to our last live class on January 29th which is a Guided-Walkthrough to create your 2025 Spending Plan. This workshop is free to all pre-orderers but you only have until January 7th so order from your favorite book seller and submit a screenshot of your receipt on that same website to get access to the workshop. In the meantime, you’ll get access to the live workshop we just did on how to make a one-year meal plan.

Check out some relevant episodes

Ep 462 Willpower & Self Control in Spending
Ep 437 Kick Burnout to The Curb to Make Better Spending Decisions with Jess Massey
Ep 404 Asking Questions That Lead to Better Spending Decisions with Jeff Wetzler

Jessica is a sought-after money expert and Accredited Financial Counsellor in Canada. She hosts the More Money Podcast and her debut book is titled Everything but Money: The Hidden Barriers Between You and Financial Freedom.

Redefining Frugality with Intentionality

One thing Jessica highlights about everyday financial decisions that we often overlook is how we speak to ourselves about money. It’s not always about what we do with our money, but how it makes us feel and how those feelings drive our choices.

Although defining a need can be tricky, frugality isn’t about being cheap—it’s about being intentional, understanding what truly matters, and finding balance without putting too much pressure over what we shouldn’t spend.

Lessons in Every Decision

Jessica agrees that some financial decisions lead to good outcomes, while others may not, but she reassures that it’s okay to make those decisions because they eventually turn into valuable lessons later.

She adds that there are times when we’re not in the best headspace to make the smartest financial decisions, whether due to a lack of skills, knowledge, or confidence. But in the end, we are just doing the best we can with what we have.

Preventions to Poor Financial Decisions

For Jessica, it’s important to look into the root cause of the problem before confronting the current one. She lists the ways you can prevent poor financial decisions by first starting with reflecting on your upbringing because how you grew up can have a big influence on your current financial habits.

She also highlights the importance of recognizing internal trauma. Even if it’s not directly about money, it can still influence your decisions, especially when past triggers set off strong emotions. If there’s none, she points out that generational trauma can be passed down, so it’s important to explore it and seek help when needed.

How to Start Making Better Financial Decisions

To start making better financial decisions, Jessica suggests identifying your current money story and reflecting on how your life experiences have impacted your finances. It’s also important to recognize external barriers and understand that sometimes the challenges aren’t just a “you” problem.

She emphasizes that there are many solutions, but they won’t be effective until you truly understand the root cause of your financial struggles. After all, our financial decisions are never just about numbers—they interplay with our emotions, our past, and our mindset.

What’s a recent big financial decision you’ve had to make?

For Jessica, it was deciding to pay for a vacation in the spring. For Jill, it was working on the house after a hurricane, and for Jen, it was hurricane-proofing their windows.

Get more from Guest

Website: Jessica Moorhouse
Instagram: @jessicaimoorhouse

Bill of The Week

Thank you Jessica for sharing your bill about renegotiating your cell phone bill! AND getting the new iPhone

Thanks so Much for Listening!

Thanks so much for listening. We love love love reading your kind reviews and we especially loved this one from:

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Listening to the backlog brings learning and laughs

I have been catching up on older episodes of this show and am learning a lot!! I always listen all the way through to the end of show chat because I am here as much for entertainment as I am for frugal mindset shifts. Today I was on the romance scams episode (380), and while the episode content was kind of scary and sad, the end of show chat about the Super Bowl and listening to Jen & Jill make really vague guesses about Taylor and Travis was hilarious. I feel like I've never not known most of the details of their relationship even though I'm not really a Swiftie or a Chiefs fan, and hearing two people who were so under-informed about them was super refreshing. Thanks for being willing to just make guesses about random pop culture and for your lovely friendly interactions. You two are a pleasure to listen to (but I will admit the first episode when I heard Jill's scary lightning round voice, I was genuinely startled).

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