EP311 Deal or No Deal

11/21/23 • 7 min

Are you ready to tackle the tempting deals of Black Friday and Cyber Monday without derailing your budget? In today’s episode, we dive into the art of smart shopping during the biggest sale season of the year and share essential considerations to ensure you're making wise purchasing decisions.

Listen in as we explore three key considerations: understanding the real reason behind your purchase, assessing if the deal is genuinely beneficial, and exploring ways to maximize benefits like loyalty points or additional perks. We also offer bonus tips on avoiding overspending, such as unsubscribing from tempting store emails and involving friends in your spending plans. And don't forget about Giving Tuesday – a perfect opportunity to make your charitable contributions go further!

“If you are getting a deal, make sure it really is one.” - Tracey Bissett

This Week on Young Money:

Evaluating the true purpose of your purchases.
Determining if a deal is genuinely advantageous.
Leveraging loyalty programs and other benefits for optimal value.
Bonus tips to resist overspending temptations.
The importance of Giving Tuesday and supporting charities in need.

Key takeaways:

Be mindful of your purchasing motivations.
Scrutinize deals to ensure they are genuine savings.
Utilize loyalty points and other benefits for added value.
Implement strategies to avoid emotional spending.
Remember the broader impact of your spending, especially on Giving Tuesday.

Resources Mentioned:

Who’s Hungry Report 2023

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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.

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“If you are getting a deal, make sure it really is one.” - Tracey Bissett

This Week on Young Money:

Evaluating the true purpose of your purchases.
Determining if a deal is genuinely advantageous.
Leveraging loyalty programs and other benefits for optimal value.
Bonus tips to resist overspending temptations.
The importance of Giving Tuesday and supporting charities in need.

Key takeaways:

Be mindful of your purchasing motivations.
Scrutinize deals to ensure they are genuine savings.
Utilize loyalty points and other benefits for added value.
Implement strategies to avoid emotional spending.
Remember the broader impact of your spending, especially on Giving Tuesday.

Resources Mentioned:

Who’s Hungry Report 2023

Rate, Share & Inspire Other Young Millionaires-in-the-Making

Don’t forget to share your favorite episodes on social media!

Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.

Previous Episode

EP310 Mental Health, Financial Fitness and Entrepreneurship with Sharmila Sriram

Embarking on the journey of entrepreneurship requires more than just business acumen—it necessitates a strong foundation built on passion, resilience and a commitment to positive change. Sharmila Sriram, Founder & CEO of Spectrum Medical Diagnostics, sheds light on the crucial aspects that drive the success of a business. Sharmila reflects on the challenges she faced in her financial journey, emphasizing the need for a solid financial roadmap, a robust emergency fund and the ability to find opportunities in challenges.

Listen in as she shares valuable lessons on resilience, as well as practical insights and guidance for aspiring entrepreneurs. You'll learn from Sharmila's journey as she offers wisdom on overcoming obstacles, embracing failure as part of the process and staying focused on the path to success.

“When you’re passionate about something, money follows.” - Sharmila Sriram

This Week on Young Money:

What a day in the life looks like for Sharmila.
The importance of having a good team around you.
Why Sharmila is so passionate about positive changes to healthcare.
The importance of community and support.
How to ensure you’re set up for the future.
Why you shouldn't wait to set up a financial safety net.

Key takeaways:

Surround yourself with positive people.
Create a financial roadmap.
Build a solid emergency fund.
Live for today.
Try to find opportunities in challenges.
Failure is part of the process.
Be resilient.
Learn to pivot.

Connect with Sharmila Sriram:

Rate, Share & Inspire Other Young Millionaires-in-the-Making

Don’t forget to share your favorite episodes on social media!

Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.

Next Episode

EP312 Check Up On Your Financial Health

Are you equipped to handle the complexities of managing debt and navigating financial emergencies? In this episode, I dive into the crucial aspects of financial health, focusing on debt management and emergency preparedness. November, being Financial Literacy Month in Canada, serves as a timely reminder to assess and enhance our financial literacy, a key component of overall financial wellness.

Join me as I explore the theme of this year’s campaign, "Managing Your Money in a Changing World," and discuss practical tips and strategies for dealing with debt, creating budgets, and setting up emergency funds. I’ll cover the importance of understanding your financial rights, the benefits of having a solid plan for debt repayment, and ways to increase income and reduce expenses. Plus, I’ll offer insights on how to navigate financial emergencies, from contacting financial institutions to considering mortgage deferrals and credit card payment holidays.

"Managing debt is one of the key consumer building blocks that leads to greater financial resilience." - Tracey Bissett

This Week on Young Money:

The significance of financial health checks and understanding debt management.
Strategies for creating budgets, paying off debts, and avoiding additional debt.
Tips for setting up an emergency fund and reducing expenses.
Guidance on navigating financial emergencies, including mortgage relief options and credit card payment holidays.
The importance of seeking professional financial advice and being cautious of misleading information.

Key takeaways:

Get a pulse on your financial health.
Manage your debt.
Optimize your financial health.
Know your financial rights.
Create a budget.
Save and invest.
Get help when you need it.

Resources Mentioned:

Rate, Share & Inspire Other Young Millionaires-in-the-Making

Don’t forget to share your favorite episodes on social media!

Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.