Two Strategies to Master Guilt-Free Summer Spending:

In this week’s edition:

• Summer Spending Sprees

• Two Steps to Master Guilt-Free Summer Spending

It's (finally) looking like summer in Switzerland! More daylight, sunshine, plans... and, let's face it, more money spent. 🙋‍♂️

If July was one of your "where did my paycheck go?" months, you're not alone.

Nearly half of Gen Z and Millennials plan to go into debt to fund travel plans. 

I get it – the temptation is real, especially when the sun is shining and social media is flooded with envy-inducing vacation pics. 

Traditional Financial Goals like home ownership and retirement seem like impossible dreams.

And, you only live once.

So, what's the point ?
Go for it.

But, what if you could explore the world without the financial hangover or the stress of looming debt? 

While 99% of finance advice focuses on saving and investing, very little is said about the art of spending guilt-free.

Spending isn't just about numbers. There's a whole subjective, emotional side to it that's rarely discussed. What should we be spending our money on? 

Figuring out what works for me has been a game-changer. Not only has it boosted my overall happiness, but it's also helped me cut back on spending that doesn't bring me joy.

Two Strategies to Master Guilt-Free Summer Spending:

1. The "Summer Fun Alignment" 

Instead of just tracking expenses, my wife and I do this:

• Step 1: Reflect & Prioritize: We jot down 3 things we loved doing last summer AND 3 things we've already enjoyed this summer that truly brought us joy.
  For us, it was Travel, Hikes and trying new activities (ex: Stand up paddle boarding)
  

• Step 2: Money Talk: We review our spending – where's our money actually going?
  How easy is it to cut back on ?
  
  This was a major revelation: a large % of our discretionary (social/fun) budget was going towards dinners out. Larger than we’d like.
  This was the easiest win in terms of cutting spending.
  

• Step 3: Reality Check: Do our spending habits match up with the stuff that makes us happy? Are we still prioritizing what matters most to us?
  We deliberately cut down spend on Dinners out and shifted the budget to activities that are more aligned with what fulfills us. 

2. The "Summer Spending Stash"

This one's more of a "next summer" tip:

• We've realized that socializing expenses spike in the summer. Duh!
  This is pretty obvious but we never thought of “front loading” our year in terms of savings.

• So, we started setting aside a bit of cash during our "low spend" months (you know, those cozy winter nights in). This way, we have a cushion for spontaneous summer adventures.

• We also have a dedicated travel budget, which gets topped up with any leftover "low spend" cash. (Just make sure this doesn't interfere with your big financial goals!)

• This helps us get through summer without denting our financial goals.

Let's be honest: summer can be a time when even the best intentions (and habits) go out the window. Between spontaneous getaways and tempting happy hours, it's easy to lose track of our financial goals.

But here's the thing: summer doesn't have to be a financial free-for-all. It's about finding the sweet spot between enjoying the sunshine and respecting your hard-earned money.

By being intentional with your spending and planning ahead, you'll feel more empowered to make choices that align with your values and priorities

Are you interested in Free 1:1 Financial Coaching Sessions ? Read on:

I recently launched my guide “The Busy Beginners’ Finance Quickstart”

The most common question I got was “Is 1:1 Coaching available ?”

The course was designed to be self-taught and can be completed in 3 hours.

But, I understand the interest in having a more “hands on” approach.
It would focus on building understanding and a personalized strategy on 1 of the 5 pillars:

• Finance Fundamentals

• Covering living Expenses

• Protecting you From Emergencies

• Working for you (Investment basics)

• Improving your quality of Life

I’m looking to give 10 Free Coaching sessions.
The session would focus on understanding your current goals, challenges and next steps.

If you, or someone you know, is interested in learning more, respond to this email with “Let me know”.

Just like the Course, I want to build the Coaching Service with YOUR input.

The information contained in this newsletter is for general informational purposes only. It should not be construed as financial or investment advice. Please consult a qualified financial advisor before making any investment decisions.