Let’s Hack Your Bad Overspending Habits (Episode 17)

Posted by under Mindsetting, Money Saving Tips, Podcast . Updated: May 3, 2020

Listen to Episode 17

Summary of Episode 17:

MVQ means Minimum Viable Quantity. And this term refers to the minimum number that you need for a specific item. It requires total honesty with yourself to be able to determine the least number for you, because if not, you’ll buy things that end up as an unnecessary duplicate. (1:25)

How about having a spare or extra? In my experience, it’s better to just keep your money and buy only when needed. Because this allows you to be flexible with your budget. (4:00)

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Take a look and see all the stuff around you, and the things you currently own. What are their MVQ? How many of them go above your minimum viable quantity? (5:30)

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Know the MVQ for the things we buy. We should always ask ourselves, “How many of this do I really need?” And the challenge for us lies in being honest, and knowing how much is enough – that specific number where having more simply becomes overconsumption. (12:15)

Moreover, realize that buying more of the things we want doesn’t mean it will be more fulfilling. For this, the challenge is for us to determine that sweet spot where we experience that most joy. The point where having more tips us towards overconsumption and less satisfaction. (12:45)

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