[Ep. 419] Transform Your Spending with a Values-First Approach with Jen Smith and Jill Sirianni

People sure have a lot to say about how you spend your money. The funny thing is, those people don’t know you as well as you know yourself. So why would you listen to their advice or opinions, when the real person you should be listening to is yourself?

This notion is what inspired Jen Smith and Jill Sirianni, co-hosts of The Frugal Friends Podcast, to write their book Buy What You Love Without Going Broke: Transform Your Spending and Get More of What Money Can’t Buy. They wanted to help people transform their spending by cutting out the noise so they could finally start listening to their own needs, wants, and values so they can feel empowered, not shamed, for how they spend their money.

You may remember Jen and Jill from episode 351 where they shared their stories of getting out of debt and finding freedom through frugality. If you liked that episode, you’re going to love this one and their new book!

Timestamps

00:00 Introduction
04:04 Guest background
10:07 Core Themes of the Book
16:09 Understanding Personal Values
21:56 Implementing Change in Spending
31:17 Breaking the Cycle of Impulse Spending
38:14 Disconnection of Self-Worth and Finances
45:48 Teaching Financial Literacy to Children

Takeaways

The journey of writing a book can be complex and collaborative.
Values-based spending is a key theme in personal finance.
Understanding personal values is crucial for effective spending.
Many people operate on autopilot when it comes to spending.
Spending should be aligned with personal values, not societal expectations.
Analyzing spending habits can reveal deeper insights into personal values.
A 90-day transaction inventory can help identify spending patterns.
It’s important to approach spending analysis without judgment.
The four Fs (faith, family, friends, and fulfilling work) are essential values.
Change in spending habits requires understanding and intentionality. Look at the last 90 days of spending to identify habits.
Values-based spending fosters understanding in partnerships.
Ask better questions to understand spending motivations.
Friction is a natural part of changing spending habits.
Consumerism is deeply ingrained in our society.
It’s never too late to change financial habits.
Self-worth should not be tied to spending.
Teach children about values and motivations early.
Model self-care to instill healthy habits in children.
Financial literacy is crucial for future generations.

Things I Mentioned in the Episode

Grab a copy of Jen and Jill’s book Buy What You Love Without Going Broke: Transform Your Spending and Get More of What Money Can’t Buy.
Listen to my first interview with Jen and Jill in episode 351.
I’m giving away copies of all the books featured in this season of the podcast! To enter, visit jessicamoorhouse.com/contests
My free resource library, where you can find budget spreadsheets & more!
Apply to enroll in my investing course Wealth Building Blueprint for Canadians
Register for the next cohort of my Budgeting Together Accountability Group
Check out my shop!

Follow Jen Smith and Jill Sirianni

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Transcript

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