Hi everyone! I was just editing a piece of content about using direct deposit to boost your savings, and it caused me to wonder what tricks and mental hacks you all use to help you save money or cut back on spending.
I have two that I use:
1. I hack my reward system. This is something I picked up from the Calm app (which I am obsessed with and use every day!) The idea is to make your brain's reward system to work for you by refocusing yourself on what will really bring you some lasting pleasure & satisfaction as opposed to those quick hits of momentary happiness that may seem tempting in the moment but fade pretty quickly.
I started out using this for fitness goals - will I be really happy with myself if I stay in bed and skip my morning swim, or will I be happier in the long run if I leave my bed and go swim laps? - but I've found it's transferrable to all sorts of things in my life. It definitely requires a level of mindfulness to execute though, and I know that can be tough for people, especially if they've exhausted their discipline reserves for the day.
2. I have a 48-hour cooling period before making a purchase. If I see something I like, I make myself wait a couple of days. If I still want it after my cooling period ends, then I will buy it. (It's remarkable how many things don't actually meet this criteria!)
What mental hacks do you use to keep your spending under control and to increase the amount of money you save?