If you’ve ever made a quick purchase that didn’t quite align with your financial goals, you’re not alone. It happens to the best of us! In this episode, Danielle Hayden, CPA and founder of Kickstart Accounting, Inc., tackles the challenge of impulse spending as an entrepreneur with a practical approach that’s meant to empower you, not make you feel guilty. 

Whether you're a free spender, saver, perfectionist, or balance seeker, this episode is filled with strategies you can use to stay in control of your money, help curb those impulse purchases, and make smarter financial decisions that align with your goals, personality, and core values. 

Key Takeaways: 

• Know Your Money Personality: Understanding whether you're a Free Spender, Saver, Perfectionist, or Balance Seeker can help you become more mindful of your financial habits and tailor your strategies accordingly.

• Step 1 - Budgeting as a Planning Tool: A budget isn’t about restriction, it’s your business’s roadmap. Setting aside time to plan expenses helps you make smarter, more intentional decisions.

• Step 2 - Use the 48-Hour Rule: Delaying purchases by just two days can dramatically reduce impulse spending and give you space to assess alignment with your budget and goals.

• Step 3 - Don’t Decide Based on Price Alone: The cheapest option isn’t always the best fit. Consider alignment with your values, quality of service, and long-term ROI when choosing vendors.

• Step 4 - Review Existing Vendors First: Before jumping ship, explore whether your current tools or service providers can meet your evolving needs. Feedback and a simple conversation could reveal untapped value.

• Step 5 - Plan for Impulse Spending: Set aside an “allowance” in your budget for unplanned yet exciting opportunities. This helps you stay flexible without blowing up your financial goals.

• Step 6 - Avoid Last-Minute Decisions: Waiting until the final hour leads to rushed (and usually regrettable) choices. Plan ahead for renewals, tax time, and big expenses.

• Step 7 - Review Financials Monthly: Regularly reviewing your KSA Snapshot and financials keeps you grounded in reality, reveals patterns, and helps you make better decisions month over month.

• Bonus - Involve Your Money Team: Share your goals with your financial team so they can hold you accountable, offer insights, and help course-correct when needed.

Topics Discussed:

How Your Money Personality Type Affects Your Spending (00:00:16 – 00:02:12)

Why a Budget is Necessary to Help with Spending Freedom (00:02:12 – 00:03:02)

Ways to Help Curb Impulse Buying (00:03:02 – 00:08:38)

Planning for Unexpected Opportunities or “Allowance Budgeting” (00:08:38 – 00:09:58)

Using Monthly Financial Reviews to Keep Your Spending Aligned with Your Goals (00:12:01 - 00:13:40)

 

Resources:

Money Personality Quiz | kickstartaccountinginc.com/quiz 

 

Book a Call with Kickstart Accounting, Inc.:

https://www.kickstartaccountinginc.com/book 

 

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