Saving money is not fun. And I am sure we can all agree to that, yes? It isn’t fun especially when you have so many things you want to buy or spend on. But if you are going to think about your future and your long-term goals, then saving money little by little each day will be a great help to you in the long run.
But how do you actually save money wisely? How do you practice self-discipline and self-control when handling money? If those are your questions, then I have the answer for you. Here are 7 money-saving mind hacks to help you reach your financial goals.
Money-Saving Mind Tricks
7. Change The Way You Think
I believe that to change a certain habit, you have to change the way you think. An example of this in terms of budgeting is that if you start making more, in your head pretend it didn’t happen so that you won’t be tempted to start spending more. Another example I suggest is before making a large purchase, give yourself time to think – maybe a night or a week – and see if you still badly want to have that item. And here’s a habit that I actually do. When I am about to buy something, I count how many hours I’d have to work to afford that thing and if it’s really worth it.
6. Pay In Cash
Another nice hack I would recommend is to start paying in cash more. This is so you won’t be tempted to keep swiping your card. Using cash will also help you to save more since you will be getting changes! So, make sure to save your change in a piggy bank or storage and you will see how these small changes can become a big investment later on.
5. Plan Your Expenses
A great way to practice self-discipline and self-control in handling money is by planning your expenses. By this, I mean meal planning ahead of time, creating a grocery list, and a to-buy or shopping list only with important and urgent items. Only buy what you have written down and nothing more. If you really want something but you know that it is not important, you can always make a “wishlist” and put it there until you feel like you deserve some nice rewards or treat for yourself.
4. Go offline
Your greatest enemy, if you are budgeting, is the internet. Social media will be one of your greatest temptations. People are now “flexing” their new shoes, clothes, and other items and they will really encourage you to buy them. And if you get a lot of newsletters from stores about their discounts and new releases, then you will be safe from buying. Because once you click on that store link, it will be hard to go back. So I do suggest setting yourself a time or a day where you will turn off your wifi and stop looking at any social media platforms.
3. Set Weekly/Monthly Financial Goals
If you need some extra motivation and reason to become serious in budgeting, then you should set a weekly or monthly financial goal list. You can start with your long-term goals like building your own business or enrolling your kids in a good school. Then, set a list of specific short-term goals on how you will achieve that. The more specific, the better so you will have no room for excuses. Some examples are maybe setting a specific amount of money saved per week, limiting your purchases to a certain number, and many more.
Trust me, you will feel good each time you check a box from that goal.
2. Reward yourself
Don’t be too hard on yourself when it comes to money. Do not actually keep yourself from actually being happy because you are so strict on yourself. You still deserve all the nice things out there. With this, each time to check a box out of your short-term goals, reward yourself! It could be the bag or the shoes on your wishlist, or a nice dinner at a fancy restaurant – there is nothing wrong with that! In fact, it will only make you keep going because you know that every time you achieve a goal, you will be rewarded. Personally, each time I see that I have saved extra money out of my weekly goal, I go out with my family and treat them to somewhere nice with that extra money. Through this way, I don’t look at money as something that I desperately need that it will affect my mental state.
1. Make it a habit
You know what they say: Practice makes perfect. Now that I have told you the few money mind hacks that I actually use, do not pressure yourself at the beginning, and feel free to make small steps. As long as you are practicing the steps I mentioned every day or continuously, then all of it will naturally become part of your habit and everyday life. There’s no shame in making budgeting a part of your lifestyle – there is nothing wrong with saving money.
Now that I have given you my own 7 money-saving mind hacks, I wish you all the luck in your budgeting journey and future business ventures. If you have any more mind hacks or money-saving tips you want to add, then feel free to write them in the comment section below. I would love to hear it!