Holding Short of Impulse Buying

Pilot’s Portfolio

Join Timothy P. Pope, CFP® in this relatable solo episode of the Pilot Money Podcast. Tim shares a personal story about his recent close-call with impulse buying. Tim explores the triggers and tactics he used to maintain financial discipline. This episode also touches on Tim’s passion for aviation and his recent flights with his family.

Listen as Tim recounts back-to-back moments of resisting the temptation to clean out the shelves at a local hardware store and avoiding making a fun but untimely large purchase. He shares his strategies for staying true to his financial goals despite strong impulses to buy. This episode is packed with insights on recognizing and managing emotional spending triggers, practical advice on maintaining financial health, and how to involve family in financial decisions to create accountability and support.

What You'll learn from this episode:

• Understanding emotional spending: Learn about the psychological triggers of impulse buying and how to identify your own.
• Strategies to combat impulse purchases: Tim shares effective techniques for resisting the urge to make unplanned purchases, including practical tips like discussing potential buys with family or using financial planning tools.
• The role of communication in financial health: gain insights into how open conversations about finances with family members can help manage spending impulses.
• Reflections on financial decision-making: Tim reflects on how revisiting financial plans and goals can help steer clear of detrimental financial decisions and provides a framework for listeners to apply in their own lives.

This episode not only offers personal stories but also equips you with the tools to navigate your financial journey with more confidence and control.

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Timothy P. Pope is a Certified Financial Planner™and principal owner of 360 Aviation Advisors, LLC (“360 Aviation Advisors”), a registered investment advisory firm. Investment advisory services are provided through 360 Aviation Advisors, in its separate and individual capacity as a registered investment adviser. Podcast episodes are provided through Pilot’s Portfolio, in its separate and individual capacity.

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