Setting: Action Learning Group Meeting

Participants:

Presenter (P): Aashish - Dealing with overspending and seeking solutions.

Enabler (E): Supriya - Facilitating the discussion.
Observer (O): Aken - Observing and preparing to report at the end.
Session Begins:

Supriya (Enabler): Good afternoon, everyone. Thank you for being here today.
Aashish, the floor is yours. Could you please share the details of the overspending
challenge you're currently facing?

Aashish (Presenter): Thank you, Supriya. So, my issue is that I consistently find
myself overspending each month, and it's impacting my ability to save and plan for
the future.

Supriya (Enabler): Thank you for opening up, Aashish. Let's delve into this. Can you
identify specific situations or triggers that lead to your overspending?

Aashish (Presenter): Certainly. I've noticed that emotional stress and boredom are
big triggers for me. When I'm stressed, I tend to shop as a way to feel better, and
when I'm bored, I often engage in retail therapy to fill the void.

Supriya (Enabler): Understanding those triggers is crucial. Let's explore further. Are
there particular types of expenses that you tend to overspend on, or is it across
various categories?

Aashish (Presenter): It's across various categories, but I've noticed that I often
overspend on clothing and dining out.

Supriya (Enabler): Thank you for sharing, Aashish. Now, thinking about the times
you've overspent, can you recall any instances where you've successfully resisted
the urge to spend impulsively?
Aashish (Presenter): There have been a few occasions when I consciously decided
not to make a purchase and walked away from the store or closed the browser
window.

Supriya (Enabler): That's a positive sign. Let's explore what enabled you to resist
those impulses during those instances. Were there specific strategies or mindset
shifts involved?

Aashish (Presenter): I think in those moments, I reminded myself of my long-term

financial goals and the importance of sticking to a budget. Also, having a friend to
talk to during those times helped.

Supriya (Enabler): Great insights, Aashish. Now, looking at your spending patterns,
are there commonalities in terms of time of the month or specific events that
contribute to increased spending?

Aashish (Presenter): I've noticed that my spending tends to spike towards the end of
the month, especially when I've received my paycheck. It's like a reward mentality.

Supriya (Enabler): Understanding those patterns is valuable. Now, let's shift our
focus to solutions. Considering the times you've successfully resisted overspending,
how can you apply those strategies more consistently?

Aashish (Presenter): I can set specific budget limits for discretionary spending
categories and engage in activities that don't involve spending when I feel stressed
or bored.

Supriya (Enabler): Those are actionable steps, Aashish. Now, regarding the end of
the month spending spikes, what strategies can you implement to avoid falling into
the reward mentality trap?

Aashish (Presenter): I can allocate a portion of my paycheck to savings at the

beginning of the month, so the remaining budget is more constrained. This way, I
won't see the entire paycheck as discretionary.
Supriya (Enabler): Excellent approach. Now, let's consider external support. In
moments of stress or boredom, how can friends or family assist you in diverting your
focus from spending?

Aashish (Presenter): I can communicate with them about my goals and ask for their
support in finding alternative activities that don't involve spending money.

Supriya (Enabler): That's a proactive step, Aashish. Having a support system is

crucial. Now, looking at your overall financial goals, are there specific milestones
you'd like to achieve in the short and long term?
Aashish (Presenter): Yes, in the short term, I'd like to build an emergency fund, and
in the long term, I want to save for a down payment on a house.
Supriya (Enabler): Those are great goals. Now, let's align your spending habits with
these objectives. How can your day-to-day choices contribute to achieving these
financial milestones?
Aashish (Presenter): I can create a detailed budget that allocates a specific
percentage of my income to each goal. This way, I have a clear roadmap for saving
and spending.
Supriya (Enabler): Perfect. It sounds like creating a structured budget will be a key
tool for you. Now, thinking about your relationship with money, are there any
underlying beliefs or attitudes that may be influencing your spending habits?
Aashish (Presenter): I think I have a tendency to associate spending with happiness,
and I need to shift that mindset to find joy in other aspects of life that don't
necessarily involve money.
Supriya (Enabler): That's a significant realization, Aashish. Shifting your mindset is a
powerful step towards long-term financial well-being. Are there specific activities or
hobbies you enjoy that don't involve spending money?
Aashish (Presenter): I love hiking and reading, and those are activities I can engage
in without spending much or any money.
Supriya (Enabler): Incorporating those activities into your routine can not only be
fulfilling but also contribute to your financial goals. Now, as we wrap up, what are
your key takeaways from our discussion, and what immediate actions do you plan to
take?
Aashish (Presenter): My key takeaways are to create a detailed budget, shift my
mindset about spending, and engage in non-spending activities during times of
stress or boredom. Immediately, I'll work on drafting that budget and communicating
with friends and family about my goals.
Supriya (Enabler): Those are fantastic action items, Aashish. Remember, progress
takes time, and it's okay to make adjustments along the way. We're here to support
you. Thank you for sharing, and I look forward to hearing about your progress in our
future discussions.
Aashish (Presenter): Thank you, Supriya. I appreciate the support and guidance.

Supriya (Enabler): Thank you, Aashish, for your thoughtful responses. Now, let's
discuss how the group can support you in implementing these strategies. What kind
of accountability or check-ins would be helpful for you?

Supriya (Enabler): Thank you, everyone, for your valuable contributions. Our next
meeting is scheduled for one week later. Aashish, try implementing these strategies,
and we'll discuss your progress at our next session.