Conscious Spending

“I’m stuck between trying to spend as little money as possible while also buying sustainable, timeless items from eco-conscious companies (which often inherently cost more). Even though I’m buying fewer items and using my money more intentionally, I don’t find that I’m saving much. What tips do you have for conscious spending, i.e. spending less without sacrificing quality or values?”

Ethical items, quality garments and organic food, oh my: Because eco-friendly purchases are often more expensive than their conventional counterparts, eco-minimalism as a lifestyle can feel sometimes inaccessible to those of us on a budget.

Today’s show answers a listener’s question about the space where eco-friendliness and frugality diverge. I speak with Certified Financial Planner Gary Grewal about the fundamentals of conscious spending: Gary suggests 3 strategies for listeners who don’t feel as though they’re saving much money and offers tried-and-true ways to vote with our dollars (without going broke).

Here’s a preview:

[5:00] First things first: buying as your last resort

[8:00] How and why it’s important to “zoom out”, with thoughts on investing in health

[15:00] Impulse spending and derailed financial goals

[17:00] 5 items to rent instead of buy

[21:45] 5 free or low cost ways to spend time with others

[26:00] 5 ways to vote with your dollars

Resources mentioned:

• Turo car sharing marketplace
• Financial Fives: The Top 325 Ways To Save, Earn, and Thrive To Retire Before 65
• Watch the extended version of this interview on Youtube
• Want more episodes like this one? Check out #205: How To Right-Size Your Household Budget

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