The Broke Generation Emma Edwards

In this episode I take you through a mid-year update on my 24 goals for 2024. From contributing to my retirement fund every month, to reading 30 books, to learning to sew with a zip, to limiting my clothing purchases, tune in to find out how I'm tracking on those goals I set back in January. 
Where to find The Broke Generation
Website: https://thebrokegeneration.com
Instagram: https://instagram.com/the.brokegeneration
TikTok: @the.brokegeneration 
Order my book, Good with Money!
Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.
See omnystudio.com/listener for privacy information.

In this episode, I explore navigating your financial goals while existing in a world of rising costs and stagnant wages. It's crucial to maintain focus and avoid a defeatist mindset. I outline five strategies to help you build financial resilience, as well as a strong mindset.
Developing both mental and financial resilience is essential for handling future challenges. Consistency is key; keep pursuing financial goals despite slow progress. Focus on your personal financial journey, acknowledge fears about economic difficulties, and stay committed to your plans. Your financial situation is unique to you! Don’t let the general narrative dictate how you think and feel about money.
A previous episode ‘How to find your financial chill girl and build financial resilience’ features the three P's of learned optimism - check it out here!  
Episode highlights:
Honesty: Critically assess your unique financial situation and avoid generalising from the broader economic climate. Behaviour: Avoid reckless spending due to perceived economic hopelessness. Money Psychology: Recognise how past experiences shape current financial beliefs and behaviours. Resilience: Build both mental and financial resilience to better handle future adversities. Consistency: Continue working towards financial goals, even if progress is slow. “Successful people, and people that have achieved their goals, don't keep hitting pause every time they run into something like a difficulty."Emma [04:26]
“Shut out the noise, shut out everybody saying everything's like this or everything's like that."Emma [06:53]
“Think about how your overall money story and your overall beliefs about money might be intersecting with the way that you are behaving and experiencing and feeling about money during the difficult economic climate."Emma [15:23]
Where to find The Broke Generation
Website: https://thebrokegeneration.com/Instagram: https://instagram.com/the.brokegenerationTikTok: https://www.tiktok.com/@the.brokegeneration  
Order my book, Good with Money!
Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.
See omnystudio.com/listener for privacy information.

See omnystudio.com/listener for privacy information.

In today's throwback solo-episode, I revisit a favourite from three years ago: being the main character of your finances. This concept is all about prioritising yourself and acting in ways that benefit you at your best.
Main character energy requires big-picture thinking, and looking beyond short-term desires to make financial decisions that truly benefit your long-term goals. We'll discuss common behaviours that undermine your financial confidence, like spending to meet others' expectations or making impulse purchases that don’t align with your values.
It's time to romanticise your financial progress, and appreciate the small wins that often go unnoticed. It's about making informed decisions, understanding your personal financial levels, and aligning your spending with your best self. Enjoy this journey back to 2021 and embrace your main character energy!
Episode highlights:
Reframe your mindset about money from a short-term, consumption-focused view to seeing it as a tool for long-term wellbeing and security. Recognise and eliminate financial behaviours that cater to others' expectations or short-term desires, and instead align spending with your personal values and goals. Celebrate small financial wins and progress, and understand that true financial freedom comes from thoughtful, intentional spending and saving. Accounts mentioned in this episode:
https://www.instagram.com/myfrugalyear
https://www.instagram.com/theroadblockcoach/
Where to find The Broke Generation
Website: https://thebrokegeneration.com
Instagram: https://instagram.com/the.brokegeneration
TikTok: @the.brokegeneration 
Order my book, Good with Money!
Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.
See omnystudio.com/listener for privacy information.

In this episode I'm chatting about one of your FAVE topics on the pod: clothing spending. Oh, it's such a beast, isn't it?! If you relate to the feeling of outsourcing your identity to consumption, you'll love this episode. 
Quick reminder: The Wardrobe Project kicks off SO soon! If you loved this episode and are ready to make changes to your clothing consumption and get hotter, happier AND richer, sign up to join us here: https://thebrokegeneration.com/the-wardrobe-project-challenge/
Episode highlights:
Increasing your readiness to change by broadening your understanding of your clothing spending behaviour Why unmet expectations are at the core of the clothing spending cycle Using The Tomorrow Rule to trick your brain into making better buying decisions Using The Rule of 5 when buying clothing to help you make better decisions Focusing on what you're gaining, not what you're giving up The power of behavioural rehearsal  ORDER GOOD WITH MONEY: https://amzn.to/4bC6QV8
GET THE NEWSLETTER: the weekly money psychology and mindset newsletter (that just so happens to have fun bits like a hot & not list, things I didn't buy, and fun updates from behind the scenes. Head to www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.
Where to find The Broke Generation
Website: https://thebrokegeneration.com/?v=518f4a738816
Instagram: https://instagram.com/the.brokegeneration
TikTok: @the.brokegeneration 
 
See omnystudio.com/listener for privacy information.

In this episode, I introduce the concept of a "spending runway," a term I coined to describe how certain situations and emotions can lead us to spend more money as momentum builds. These runways exist everywhere, from airport shopping and home styling to event planning and beyond. For instance, an initial purchase at an airport can lead to a cascade of spending on food, magazines, and souvenirs. Similarly, starting a home renovation project can trigger a series of additional purchases as you strive for the perfect look. By recognising these spending runways, we can become more mindful of our financial decisions and intercept unnecessary expenses before they spiral out of control. I share practical tips (that I've actually tried!) to help you identify these patterns in your own life, so you can take control of your spending habits. Tune in to discover how understanding your spending runways can lead to more intentional and satisfying financial choices.
On another note, my wardrobe challenge has entered a new era… Introducing The Wardrobe Project. Find out more and register here: 
https://thebrokegeneration.com/the-wardrobe-project-challenge/ 
Episode highlights:
Discussion on how social settings, like attending events or gatherings, can create spending runways due to peer pressure or the desire to fit in. Insights into how retailers design environments to create spending runways, such as strategic product placements and promotions.. Introduction of specific budgeting techniques to counteract spending runways, such as setting spending limits and using cash instead of cards. “The airport is a really great example of an environment that creates a spending runway, not only when we're at the airport does money feel like Monopoly money like it doesn't count. We're also in the mindset of we're on holiday, we're on vacation, we can do whatever we want. This doesn't count..."Emma [10:50]
“You go in for one thing, which in this instance is fairly rational. Maybe you don't need the sandals, maybe you do. It's neither here nor there, but that purchase and that environment and that intention then creates further subsequent purchases."Emma [13:06]
“We like to buy, but we don't actually like to style. We think that we buy style, but we actually create style with what we've got."Emma [30:46]
Where to find The Broke Generation
Website: https://thebrokegeneration.com/?v=518f4a738816
Instagram: https://instagram.com/the.brokegeneration
TikTok: @the.brokegeneration 
Order my book, Good with Money!
Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.
See omnystudio.com/listener for privacy information.