ENLIST A PICKPOCKET
If hoarding money feels boring, save it before you see it. Send part of your pay to savings before it hits your checking account, and if possible, ask that half of any raise go to your 401(k). A way to think about this is to give up the extra money before you have it therefore you won’t feel the loss of a smaller paycheck, because you never had it to begin with. If you are paid in cash, set a monthly auto-transfer from checking to savings.
CARRY A SAVINGS CHARM
Ads, e-mail promos, store signs: You’re bombarded by cues to spend but rarely to save. Try creating your own savings prompt. Studies have shown that specific goal reminders (like “$800 for tuition by April”) were twice as effective as generic ones. Carry a written goal in your wallet to keep it in mind.
PAY FOR SMALL STUFF IN CASH
Pay with cash and you’ll spend less. Swipe a card and you’ll indulge more. Tap your phone and you may be most likely to go wild. Electronic payments more than often erase the pain of payingGoing all-cash might help, but it’s inconvenient. So pay the old-fashioned way when your purchase is less than $20.
CLEAR YOUR WALLET
You’re less likely to break a big bill, a study in the found. Fatten up your savings by feeding leftover singles and $5 bills into a piggy bank each night. Then keep $20s on hand to slow your spending.
MAKE SHOPPING HARDER
Storing your payment info online makes checkout a breeze, which is the problem. To curb a bad online habit, delete your cards from your favorite sites so you have to type in the numbers manually when you shop.
LOWER THOSE EXPECTATIONS
Falling short of your monthly savings goal? Cut it in half. Ease up on yourself, then step away from the stash.
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