How can I change my money mindset?

It’s easy to create a budget to manage your spending - but can you stick to it? 32-year old project manager Rosie contacted Money Clinic as she kept making the same mistakes. Despite starting the month with good intentions, online shopping sprees frequently pushed her into the red. Battling with ‘buyer’s remorse’ as she returned her impulse purchases, Rosie asked Claer what psychological factors could be causing her to break the budget? Tim Harford, FT columnist and author, turns to behavioural economics to show how we can train our brains to resist the urge to splurge. Financial coach and blogger Ellie Austin-Williams, known online as This Girl Talks Money, encourages Rosie to explore her ‘money mindset’ and probe her emotional connections with money. 

If you would like to be a guest on Money Clinic and chat to Claer about a money issue that’s bugging you, get in touch — our email is money@ft.com. Follow Claer on Twitter and Instagram @ClaerB.

Further reading:

Tim Harford writes the ‘Undercover Economist’ column in the Financial Times. His bestselling book How to Make the World Add Up is out now in paperback. Follow him on Twitter @TimHarford

Read Ellie Austin-Williams’s blog on exploring your ‘money mindset’ on her website This Girl Talks Money and follow her on Instagram @ThisGirlTalksMoney

If like Rosie, you need some help working through maternity pay and pensions issues, check out our previous episodes Will having a baby break my finances? and Should I combine my pension pots?

And if you’re after budgeting tips, check out Claer’s recent column: Lock down your budget before the economy opens up

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