Happy Valentine’s (or should I say Galentine’s?) day!
Valentine’s day is most commonly associated with romantic love, but did you know that in 2024, over 11 billion dollars was spent on gifts for loved ones other than life partners? Two billion of that went to presents for household pets!
That goes to show that we want to celebrate our community, big and small. 🥰
As you can see, the impact our loved ones have on our finances is significant, and when we learn how our community influences us, then we can move forward with confidence & clarity in our spending decisions.
Before we dive into the good stuff, though, have you taken the Mega Survey yet? Answer these ten multiple choice questions to help the us shape the podcast’s future!
Already done? Read on! 👇🏻
🫱🏻🫲🏼 Relationships & Money
Relationships are one of our most treasured assets and can have a big bearing on our financial future. From the way we were raised to interact with money to the influence social media has on our spending; our financial decisions are intertwined with the impact of our community.
When exploring the benefits and drawbacks your community has on your money, let’s recognize these 2 things:
1. Communities are full of knowledge and safe spaces for learning. When we were kids, we didn’t already know how to count money, or make purchases. Someone had to teach us those basic skills. And for most of us, as we grow older, we teach others the skills we know. This communal sharing of knowledge can create mutual benefit to both the ‘teacher’ and the ‘student’! And there’s plenty of opportunities to keep learning and improving as we go.
Challenge: Think of your community. Can someone teach you how to invest, or how to save money on interest? Can you serve as a mentor for a younger family member or friend?
2. In a world of instant gratification, decision fatigue, and targeted ads, it’s hard to flex the willpower muscle and say “no thanks” at the best of times. Couple that with a community full of people with everyday impulses, and it can be more than a little overwhelming.
Keep in mind: Tiffany’s sparkly new robot vacuum might shave 10 minutes off her cleaning routine, but that doesn’t mean it will satisfy your individual needs. One of the toughest parts of existing in a community is drawing the line between their needs and your needs.
Challenge: Think of a time that you bought something because someone recommended it to you. Did you actually want this item, or did it sound like a good idea? How can you mitigate this in the future?
📌 Moving Forward
By understanding YOUR values and establishing your own boundaries with spending and saving you can engage openly with your community, without hurting yourself financially.
On Tuesday, Jen & Jill kindly gave us tangible tips, heartfelt anecdotes, and coping strategies that we can apply to our finances. Tune into Managing Financial Regret (Ep 484).
Have you noticed that traditional personal finance advice is largely directed at parents? On today’s episode, our special guest shines the spotlight on my fellow DINK (Dual Income, No Kids) households. Check out Ep 485, How to Budget If You Don’t Have Kids with Jay Zigmont for all your childfree needs.
Tune in wherever you get podcasts and let us know what you thought of the episode over on our latest Instagram post!
✅ Read: Onyx Storm. It’s been three weeks since the release, and theories are flying! (Pun intended). Reread the book with me & send me (Kim) all your craziest ideas. 🐉
✅ Watch: That Good News Girl. Jenn is a reporter dedicated to spreading positivity through heartwarming news stories and tales of human & animal resiliency. Warning: you will cry happy tears.
✅ Do: Is health one of your New Year’s resolutions? Are you a mama, or thinking about motherhood? Then check out Expecting and Empowered, a fitness app designed specifically for moms! With group challenges, automatic accountability tracking, and motivational threads, it’s the perfect way to stay fit through the ups-and-downs of raising littles. Right now, you can get 15% off an annual subscription with code FRUGAL. **
✅ Meal Prep: It’s cold and we’re tired. Try this seven-ingredient, one-pot veggie pasta from Plant You for a simple dinner that ticks all the health boxes. 🍲
Spending is a skill and you can learn to master it. If you’ve ever struggled with being unable to stick to a budget or felt guilty about spending on something you enjoy, Jen and Jill’s debut book is going to be your next favorite read.
Until next time,
Kim
⭐️⭐️ P.S. Want to share all this goodness with your friends AND earn cool Frugal Friends merch?
**Means this is a sponsored or affiliate section. We may earn a small fee or commission when you choose to try one of our sponsor or affiliate partners. But opinions are still 1000% our own.
