Saving money isn’t fun.
It’s just not something your brain wants to do. So if you want to develop good financial habits, you’re going to have to trick yourself.
1. Give Yourself A Cash Allowance & Only Pay For Things In Cash: paying for things in cash psychologically puts things into perspective because a debit/credit card doesn’t feel the same. When you pay for things in cash, it stings a little more because you feel that transaction in a different way.
2. When You Get Your Cash For The Week, Get The Biggest Bills You Can: this method prevents you from making small petty purchases considering that most people don’t want to break a big bill for something small.
3. Automate Your Savings: Most banks that do online bill pay also are capable of taking the first portion (set percentage) of your paycheck and put it immediately into savings.
4. Save Your Digital Change: An app called Acorns takes the change in your account (Ex. You pay $4.50 at Starbucks, Acorns moves $.50 into a savings account.) and distributes it into a savings account. Watch that number grow dramatically over time!
5. Instead Of Saying “No” To Yourself When You Want Something, Say “Yes!”: This may sound counterintuitive but hear me out. It’s hard when we have to say “No” to spending money, but when we flip our perspective by allowing ourselves to see what that money now goes to since we saved it, it changes everything!
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