Back on track after holidays: new study exposes the hidden financial impacts of impulsive spending
Nearly all (94%) of American adults admit to spending impulsively, with purchases like dining out (55%) and clothing/shoes (53%), being among the most common sources, according to a new study commissioned by YNAB and conducted online by The Harris Poll. This study on impulse buys comes on the heels of a social media trend known as “little treat culture” where people impulsively treat themselves for a quick boost of happiness. The term “little treat” has over 55 million views on TikTok. However, for many, impulse buying has a sneaky way of adding up. It is shown to delay big financial goals for more than half of impulsive spenders (52%) and sometimes causes financial stress for 47%.
“It’s important to spend money on things that bring joy and align with your goals and priorities,” shares money and lifestyle expert Ashley Lapato. “Sometimes, that means indulging in a little treat because, well – you earned it or had a bad day. People often feel like impulse shopping makes them ‘bad’ at money, and that’s simply not the case. Setting even a few dollars aside each month for a little treat gives us permission to spend without guilt, enjoy life, and stay on track with goals down the road.”
“It’s unrealistic to think that you can eliminate all impulsive spending, and frankly, unreasonable to imagine a day-to-day without ever buying a latte, new book, or ordering takeout,” adds Jesse Mecham, founder of YNAB. “I don’t want to live in a world where spending money isn’t fun. The key to getting a handle on the stress caused by impulse buys is to increase awareness of where every dollar is going, be honest about how frequently you spend impulsively, and create a realistic and flexible plan going forward. This might be a hot take: the biggest mistake most people are making is not overspending, it’s under-budgeting in certain categories.”
Official launch of Carbon-Neutrality Pilot Project in the China-EU (Taicang) Green and Digital Innovation Cooperation Zone
The Launch Meeting of Carbon-Neutrality Pilot Project in China-EU (Taicang) Green Digital and Innovation Cooperation Zone was held in Beijing. The meeting was jointly hosted by China-EU Carbon Neutrality Cooperation Office (CECCO), Center for International Economic and Technological Cooperation of the Ministry of Industry and Information Technology (MIIT) and Taicang Municipal Government.
The China-EU (Taicang) Pilot Project has defined goals and pathways in the following eight key areas: planning, digital governance, energy, resource recycling, industry, construction, mobility and logistics, as well as lifestyle. Taking the whole area as a city lab for carbon neutrality, a series of sub-projects are shaped focusing on green energy infrastructure, circular economy, 1.5-degree lifestyle, viable communities, as well as fully digitalized and transparent carbon-footprint management. So far, a carbon-neutral roadmap and implementation plan have been developed, with joint efforts among Chinese and European partner institutions, including China Institute of Building Standard Design and Research (CBS) of China Construction Technology Group (CCTC), Power China HuaDong Engineering Corporation (HDEC), Roland Berger (Germany), Dassault (France), and TÜV Rheinland (Germany), among others.
The launch of China-EU (Taicang) Pilot Project is a practical action to jointly address climate change by Chinese and European green digital partners from private sector, with the support of public sector and social organizations, helping to achieve the United Nations 2030 Sustainable Development goals.
The Ocean Cleanup delivers record 55-ton ocean plastic haul to Kia
The Ocean Cleanup, the international non-profit project with the mission of ridding the oceans of plastic, landed its record-breaking 55-ton plastic catch at Victoria, Vancouver Island, Canada. Recycling of the captured plastic will begin shortly, and Kia will use a proportion of the material in future EV models. This policy aligns with Kia’s commitment to provide sustainable mobility solutions that have a measurable impact on achieving sustainability at scale.
The record catch was removed from the Pacific Ocean using The Ocean Cleanup’s System 002 extraction technology following a lengthy voyage through the Great Pacific Garbage Patch (GPGP). The GPGP is the world’s largest accumulation of floating waste and has an estimated surface area of 1.6 million square kilometers – equivalent to three times the size of France.
Charles Ryu, Senior Vice President and Head of the Global Brand & CX Division at Kia Corp., commented: “The record catch of plastics brought to shore by The Ocean Cleanup for recycling is tangible proof of how technology can deliver sustainable solutions at scale. Kia’s partnership with The Ocean Cleanup demonstrates the brand’s commitment to having a positive impact. Initiatives such as this one perfectly align with Kia’s transition to a sustainable mobility solutions provider and our Plan S strategy, through which we embrace the needs of our customers and the protection of our environment by acting as a responsible corporate citizen.”
Nisha Bakker, Director Partnerships of The Ocean Cleanup, said: “We plan to deploy a fleet of systems that together will be capable of removing 50 per cent of the GPGP every five years. However, we cannot do this alone. Committed and valued partners, and particularly our global partner Kia, remain essential for The Ocean Cleanup to bring our shared ambitions of plastic-free oceans to reality.”
The new original six: Professional Women’s Hockey League sets foundation for inaugural season
The Professional Women’s Hockey League (PWHL) was officially introduced with a foundational announcement naming its six markets across Canada and the United States. When the puck drops in January 2024, the world’s best women’s players will compete in Montreal, Ottawa, and Toronto, as well as Boston, Minneapolis-St. Paul, and the New York City area.
The league is supported financially by business and philanthropic leaders Mark and Kimbra Walter and is led by a Board of Directors that includes sports icon Billie Jean King, sports executive Ilana Kloss, Los Angeles Dodgers President Stan Kasten, and Dodgers Senior Vice President of Business Strategy Royce Cohen.
“On behalf of ownership and our board, I am honored to announce the official name of our new league and to unveil the blueprint for this historic inaugural season. And we are especially proud to be providing this new platform for elite women athletes,” said Kasten. “Our great game has the power to captivate and connect sports fans everywhere, and we are thrilled to plant roots in six of North America’s most passionate hockey markets.”
“Today, we look ahead to a phenomenal future for the PWHL,” said Jayna Hefford, PWHL Senior Vice President of Hockey Operations. “We have never seen more excitement and demand for women’s sports, and through the launch of this league, the top women’s players in the world will have the opportunity to reach even greater heights.”
The 2023-24 PWHL schedule will feature 24 regular season games per team. The full schedule will be announced in the coming months.