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Lesson 16 6 minute lesson Interactive
Protecting Savings from Impulse Spending
Add helpful friction between a passing urge and money meant for an important goal.
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Lesson goal
Design account and shopping habits that make saving easier to protect.
Three ideas to keep
1
Keep goal money separate from spending money
2
Use a waiting period for unplanned purchases
3
Remove saved payment details when they trigger impulse buying
Try it
Make the call
You want a $70 item that was not in your plan, and the money would come from your laptop fund. What is the best first step?
Knowledge check
Lock it in
What is financial friction?
Finish both activities