I had a client today swear they don’t spend that much, and then proceeded to show me a statement with three different luxury subscriptions I’ve never even heard of. I’m trying to help them build a real plan, but they keep insisting their budget is already tight. How do you get clients to be honest about their spending without calling them out directly?

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It's your job to be honest and call them out. That's what they are paying you for....

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Do the subscriptions amount to anything relevant to what they are trying to budget? If not, it’s an avocado toast conversation.

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What type of “luxury subscriptions” are we talking about? Lots of intangible value in some of them depending on what they are beyond just their financial cost, ie relationships, networking, potential clients, etc

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Stick to the numbers and run a few scenarios to show the opportunity cost of the subscriptions. Depending on the overall picture, are they going to need to work longer because they have these? Are they going to have a reduced retirement lifestyle for current living choices? If so you need to show them the long term impacts of current spending and habits.

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No matter what you say or do - won’t change a thing. They are deliberately delusional and know it.

Call them out with hard numbers

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