EP 85 – Recognizing the 5 Categories of Emotional Spending

Today, Victoria joins me again in tackling a personal subject. We talk about emotional spending, what it means, and how it presents itself in your personal life, as well as in your business.   There are ways to recognize when you may be emotionally spending through looking at your numbers, and learning to recognize when you're doing it is the first step in scaling down on it.   In this episode Victoria and I also discuss:  Defining emotional spending and what qualifies as emotional spending | 2:30  The five categories of emotional spending | 5:10  How the 48-hour rule can help prevent emotional spending | 15:41  How budgets reduce impulse spending and aid financial decisions | 17:03  How emotional spending includes underspending and how to recognize it | 18:39  Emotional spending in your personal life and its effect | 20:09  Analyzing and tracking your numbers to understand when you're emotionally spending | 25:19    Things mentioned in the episode:  Episode 82 – How to Prepare for a Recession or Downturn in Your Business by Taking These Financial Steps | https://kickstartaccountinginc.com/ep-82-how-to-prepare-for-a-recession-or-downturn-in-your-business-by-taking-these-financial-steps/   EXPENSE REPORT WORKSHEET  PDF 5 CATEGORIES OF EMOTIONAL SPENDING    Need help understanding your numbers to track metrics? Join our Finance Framework Program and be a part of a community for business owners who want to take control of their financials! Enroll today!   The Finance Framework | https://www.kickstartaccountinginc.com/framework     Connect with Danielle:   Website | https://www.kickstartaccountinginc.net/   Facebook | https://www.facebook.com/kickstartaccountinginc/   Instagram | https://www.instagram.com/kickstartaccounting    Twitter | https://twitter.com/KickstartAcct      Book your FREE Discovery call: https://kickstartaccountinginc.com/book-a-call/   Test your Financial Health: https://kickstartaccountinginc.com/checkmyfinancialhealth/   Learn how to pay yourself as a CEO – https://www.kickstartaccountinginc.com/getpaid