142. Personal Spender Series: Identity spending

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Episode Synopsis: 

In this episode, Gina Knox discusses the concept of identity spending and why it should be avoided. Identity spending refers to spending money on things you cannot currently afford in order to buy into a future identity that you desire. Gina explains how to identify identity spending and provides examples of common scenarios. She also distinguishes between value spending and identity spending, emphasizing the importance of aligning spending decisions with personal values. Gina highlights the ineffectiveness of identity spending, as it does not actually help in achieving the desired identity. She shares a personal example of prioritizing values over identity and discusses the negative consequences of identity spending. Finally, Gina encourages listeners to cut out or minimize identity spending and focus on value spending instead.