5 Minute Drill | Renew Your Mind with Labels
How often do you overlook how the negative parts of your day (or career) are affecting your relationships? This is real. Us humans go on autopilot more often than we […]
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Episode 411: The Hidden Cost of Over-Saving: When Saving Too Much Holds You Back
In this week’s episode of the Journey to Launch podcast, I’m exploring the concept of “over-saving” and its potential to hinder financial growth and life enjoyment. You’ll hear about my personal journey of saving, a habit deeply instilled in me by my family, and how it has enabled me to achieve significant milestones throughout my life. However, I also mention how an overemphasis on saving, driven by fear or outdated goals, can prevent you from taking risks, making investments, and enjoying your money. I encourage you to understand your “enough point”—the amount needed to sustain a comfortable lifestyle—and align your saving and spending habits with your evolving financial goals.
In this episode, I share:
- The importance of balancing saving with spending, and how to reflect on whether your saving habits are holding you back from opportunities and personal growth.
- The concept of the “enough point,” the income and savings level needed to sustain a desired lifestyle, and how to align your financial goals with this benchmark.
- How to reframe viewing money as a tool to achieve financial goals, how to intentionally spend and invest in personal growth, happiness, and financial freedom.
- How to differentiate smart saving from over-saving and the need for intentional saving aligned with current goals and values + more!
Other Links Mentioned in episode:
- Get your copy of my book: Your Journey To Financial Freedom!
- Join The Weekly Newsletter List to get updates, deals & more!
- Leave Your Journey To Financial Freedom a review!
- Get The Budget Bootcamp
- Check out my personal website here.
- Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
- YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link.
- What stage of the financial journey are you on? Are you working on financial stability or work flexibility? Find out with this free assessment and get a curated list of the 10 next best episodes for you to listen to depending on your stage. Check it out here!
Connect with me:
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