Intermittent Spending: the act of positively changing our spending habits by abstaining from spending during a specific timeframe.
If you are struggling with money, you have two main areas of focus:
Increase your income
Reduce your spending
You can make a million dollars in a year, but if you spend two million that year, where does that get you?
People understand the importance of controlling spending, but they simply haven’t had success. Traditional budgeting concepts work for many, but for others, budgets are difficult, unappealing, or downright painful. This is where Intermittent Spending comes into play.
Intermittent Spending is a strategy designed to help a person control their spending behaviors and increase spending mindfulness.
Intermittent Spending is based on the concept of Intermittent Fasting, which has revolutionized the weight loss battle for many people.
The concept of Intermittent Spending and a roadmap for how it works can be found in this book:
One of the authors of the book has conducted a few podcasts on the topic. Below is a video version of a podcast along with some key points from the discussion.
Focus is on when spending occurs, not what money is spent on
Based on the concept of “intermittent fasting” used in weight loss
Not a traditional budgeting tool or strategy
Intermittent Spending is a new strategy designed for those who find traditional budgeting difficult to stick to. Many find it easier to use time limits to focus on when they spend rather than on what they are spending. While it is important to consider actual purchases and avoid poor decisions, this focus on timing may lead people to be more mindful in general. Being mindful about money is definitely a positive trait worth pursuing.
Daniel J. Wendol is the owner of the Dolphin Financial Group. He is a CERTIFIED FINANCIAL PLANNER™, licensed as an Investment Advisor Representative, and also has an insurance license. He combines the investing and insurance worlds with a focus on retirement. ‘
Each week Dan hosts Dolphin Financial Radio, a podcast about the wide-ranging issues people face leading up to and through retirement.
Dolphin Financial Group acts in a fiduciary capacity to help people make life’s toughest financial decisions.