Spend your Money! Spaving and Intentional Spending with Nick Garofalo - 161

Money Talk with Skyler Fleming

In this episode, I sit down with Nick Garofalo, CFP candidate and founder of Open Handed Wealth, to discuss the concept of “spaving,” or spending to save, and how businesses use this tactic to influence our financial choices. We dive into the psychology behind marketing strategies like BOGO deals, the importance of aligning spending with your values, and how to make intentional financial decisions. Nick also shares actionable tips for managing expenses, identifying priorities, and resetting spending habits through practices like no-spend weeks.

Timestamps

[00:00:00] What is spaving?

[00:02:00] Meet Nick Garofalo.

[00:04:00] How businesses influence your spending.

[00:10:00] Are spaving deals worth it?

[00:14:00] Spending aligned with your values.

[00:19:00] Tracking your expenses for clarity.

[00:25:00] The power of no-spend weeks.

[00:30:00] Spending intentionally for joy and purpose.

The money talking points for this week are:

1. Have you ever spaved?
2. How can a no-spend week help me?
3. What is something I enjoy purchasing intentionally?

Find Nick Garofalo online at https://openhandedwealth.com/

A helpful article I found on spaving: https://www.myfico.com/credit-education/blog/what-is-spaving

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"Upbeat Forever" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 http://creativecommons.org/licenses/by/3.0/