Trends aren’t limited to fashion. There’s no shortage of money trends out there and like fashion, they’re not all good. In a recent post on the National Debt Relief blog, financial activist Dasha Kennedy highlighted three money trends your finances need you to ditch immediately.
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Keep reading to find out what these trends are and why they can be detrimental to your finances.
Impulse Spending
The average consumer spent $218.75 per month on impulse buys in 2024, according to Capital One Shopping. Some people might be tempted to make impulse purchases after watching unboxing videos of viral hauls and must-have purchases, Kennedy said.
Instead, she advised being intentional with your purchases and stopping to ask yourself if an item will add value to your life before taking your wallet out.
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‘Girl Math’
A play on “girl dinner,” TikTok user Samantha James introduced the idea of “girl math,” highlighting how she — and presumably many women– justify their spending. Her examples included purchases under $5 counting as freebies, returning a $50 item to a store, and buying another $100 item counting as a $50 purchase and when concert tickets are bought months in advance, the show is essentially free.
“While this trend brought laughs and relatability to money conversations, sometimes it played into the idea that some financial decisions can be oversimplified,” Kennedy wrote in her blog post.
She said there’s nothing wrong with engaging in some guilt-free spending, but you should largely focus on making value-based decisions that align with your goals.
Positive Money Affirmations Without Meaningful Change
Using positive affirmations to encourage yourself to be more responsible with your money is a good thing. However, that alone won’t improve your finances.
“Pairing a hopeful mindset with practical habits like automating savings or tracking spending improves your chances of making real progress,” wrote Kennedy.
3 Money Moves to Make Instead
Now that you know which money trends need to be left in the past, it’s time to move forward. Kennedy shared several tips to help you do exactly that.
Let Go of Habits That Aren’t Serving You
When you’ve held onto certain financial habits for a while, it can be hard to give them up — even if they’re not working. Doing so might make you feel like a failure, or learning new habits could feel daunting, but it’s time to change that mindset.