Who doesn’t love a juicy revenge story? 🤩 And when there’s money involved? Chef’s kiss. 👨🏾🍳💋 You take what’s yours, queen. Max out that cheater’s Amex on an Eat-Pray-Love style Eurotrip (with the wardrobe to match).
There’s a new financial trend making its way around the interwebz: revenge saving. What’s this game all about? Keep reading! 👀
Here’s Five Fast Facts on revenge saving:
- 👛 Revenge Body - At the end of the COVID era, you may remember the term “revenge spending” flying around. In that trend, people were fighting off cabin fever by splurging on trips, dinners out, and clothing hauls. Now, as the economy heads deeper into murky waters, we’re seeing the opposite trend take flight: revenge saving.
- 🎣 Reelin’ It In - Thanks to rising costs in basic needs like groceries, gas, and rent, many folks are curbing excessive spending. Higher-than-Cheech interest rates and tariffs come into play, too. Experts say revenge saving stems from consumer guilt and shame over spending. It’s also a way to feel in control financially during uncertain times.
- 💅 New Me - Outside of economic uncertainty, some people bounce back from a wild and crazy spending phase through revenge saving. Swinging the other way towards financial responsibility helps some folks rebrand themselves. Now, they get their kicks from watching their savings go up instead of their credit card balances.
- 🏆 Challenge Accepted - Ready to enter your own revenge spending era? An easy way to try it out is through a no-spend challenge. In this strategy, you’ll pinky promise not to spend any money within a certain timeframe. It can be as short as 24 hours or as long as you can reasonably handle. Then, transfer what you would have spent into a savings account.
- 🐢 Slow and Steady - If going full revenge saver mode feels scary, remember: even small moves count. Always keep both your short and long term financial goals in mind and take just one step toward them every day. With a little commitment and motivation, you’ll be well on your way.
🔥Bottom line: Whether you’re revenge saving or just plain vanilla saving, we salute you. Socking away any kind of cash in this economy is a job well done. Moving to a smaller home to downsize? Make sure you declutter first! Hop over to this article for some tips to make it all run smoothly.
Are you a revenge saver?
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