Episode 179: Spend with Intention and Discerning a Need from a Want

Send us Fan MailThis week, we’re diving deeper into spending—what truly counts as a need versus a want, and how to make sure your spending reflects your values and supports your financial goals.Even high-income earners can struggle to save when lifestyle inflation creeps in. In this episode, we’ll explore how lifestyle inflation happens, how to recognize it, and how to shift toward mindful spending that brings lasting fulfillment. You’ll learn:·       How to tell the difference between needs and wants·       Why lifestyle inflation sneaks up on so many physicians·       How hedonic adaptation affects your happiness and spending·       How to spend intentionally on what truly matters to you Your money should support the life you want—today and in the future. Tune in to learn how to make spending choices that align with your values and bring more meaning, freedom, and joy to your financial journey. References:https://www.census.gov/library/publications/2024/demo/p60-282.htmlhttps://www.nerdwallet.com/article/finance/data-2023-budgeting-report Please subscribe and leave a review on your favorite Podcasting platform. Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakesIf you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbookDr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .You can learn more about Elisa at her website or follow her on social media.Website: https://ww.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/ElisaChiang Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...