Overconsumption with Whitney & Sara B
On this episode of Financially Naked: Stories from The Financial Gym, hosts Whitney and Sara B discuss the important issue of overconsumption. Inspired by Sara's personal experiences and recent social media discussions, they explore the societal and personal factors that drive us to overconsume and offer actionable strategies to break free from the cycle. They talk about voting with your dollar, finding your personal motivation, and making mindful choices to focus on both financial security and environmental responsibility
Podcast Notes
Understanding Overconsumption and Its Impact
Inspired by the election and conversations with her clients, Sara has been having conversations about overconsumption and wallet activism on her social media. By encouraging people to vote with their dollar, Sara hopes to help people feel in control when they feel hopeless.
Overconsumption is a huge problem driven by systematic issues. We are encouraged to consume and spend money at every corner, and products are designed to only last a short time, encouraging even more spending.
Many people struggle to recognize the impact of overconsumption because it does not affect them directly. The documentary Buy Now! The Shopping Conspiracy and the book Consumed by Aja Barber expose and showcase the environmental consequences of overconsumption.
The goal of conversations about overconsumption and mindfulness is not to shame individuals but rather to raise awareness about the issues and encourage people to take action. Even small, mindful changes can lead to significant changes.
Finding Your Motivation and Making Mindful Choices
Motivation for change is personal. Some people are driven by rewards, whereas others want to avoid negative consequences. If you want to consume less, it's important to understand why this is an important cause for you.
If you want to consume less overall, identify what genuinely brings you joy and what purchases were driven by FOMO or impulsive spending. If you are trying to escape your feelings, mindless scrolling and shopping is a way to chase instant gratification.
Strategies like a 24-hour rule, adding items to a wish list, or removing saved payment information can create helpful friction. When buying things is so easy, intentional friction can help you slow down, be mindful, and consume less.
While money can't technically buy you happiness, having money is essential for our basic needs. It is easier to engage in activism when you aren't in survival mode. Money can provide comfort and security and allow you the flexibility to do more.
Community and connection are powerful antidotes to overconsumption. Spending time volunteering, pursuing hobbies, or engaging offline can reduce the urge to shop. If being on social media or shopping apps leads you to unnecessary purchases, take a break, delete them from your phone, and focus on your community.
Practical Steps to Break the Cycle
Understand the consequences of overconsumption. Just because it does not affect you directly does not mean the issue should be ignored. Even though the problems are systematic, you can take control and change your personal life.
If you need new electronics, opt for refurbished tech or secondhand items when possible. There are reputable places online where you can buy refurbished technology, which will also save you money over buying things brand new.
When you need to make purchases, focus on buying from small businesses, ethical companies, or secondhand. Vote with your dollar by spending your money with companies that align with your values.
Engage with your community to share resources. Get creative. Give, borrow, and lend things to each other rather than purchasing things new. Step away from your screens, walk outside, and spend time in nature.
Whitney and Sara end with a hopeful message: by making mindful choices and finding joy outside of consumption, you can reclaim control over your finances while creating a positive change.
If you want to work with a Certified Financial Trainer to help navigate your finances, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.
Resources
Meet The Trainer
Sara Belhouari, Certified Financial Trainer
Whitney Catalano, Marketing Coordinator