Overcoming a Spending Addiction
Today I have on the podcast my friend, Lauren Greutman, an entrepreneur, podcaster, and author of the newly released book, The Recovering Spender. Lauren went from spending $40,000 on credit cards to being debt free. Along the way she came to the realization that she was addicted to spending. Lauren is making the rounds promoting her book, but I feel as though she shared her juiciest gossip on my show. I hope you enjoy hearing more about her story and get inspiration for your own journey.
What are we drinking?
Lauren — iced lemon water
Shannon — earl grey tea
- Lauren solely dealt with the finances of her family, and her husband had no idea she was bad with money.
- Lauren has always had an obsession with spending; she even admits to having a problem with shoplifting as a teenager!
- The Recovering Spender is about Lauren’s story and the steps she took to pay off her debts and overcome her shopping addiction.
- Lauren compares having a budget to being “fenced in.”
- Once she realized that she could still live her life and have fun while on a budget, she felt a sense of freedom.
- It took Lauren and her family two years to pay off $40,000 of debt.
- Both Shannon and Lauren agree that “keeping up with the Joneses” is a very real thing.
- While Lauren was writing her book, she did an experiment with using credit cards for travel hacking.
- For three months, she used credit cards, and she realized she spent an extra $2,000.
- It has been 9 years since Lauren realized her addiction to spending, and she admits she still has triggers.
- Lauren even wrote an article about how she broke up with Chip and Joanna Gaines because their show was a trigger for her.
- She says her book is for the un-financial or the black sheep of the finance world.
- Lauren shares some things in her book that she has never talked about publicly before, but she thinks being transparent is courageous and hopes it helps others to do the same.
- TAKEAWAY: Fences create boundaries and keep you safe, but you can have a lot of fun within them!
Random Three Questions
- What was the last big expense you made? Did you feel good about it?
- What is your favorite time of the day?
- If you won a million dollars, what would you do with it?
Connect with Lauren:
Book: The Recovering Spender