What if I told you that with a few simple tricks you could triple how much
you save each and every month in this video I'm going to share with you seven
psychological money-saving tricks that will help you save hundreds of extra
dollars each and every month and word on the street is that if you hit the
below saving trick number one is to avoid
social media it seems like every time we go on Facebook Instagram or any other
social media platform we are bombarded by ads from workout clothes to the
hottest new toy we are being exposed to just as much
sponsored content as a pictures and videos we actually want to see besides
being terrible for our productivity these apps are causing us to spend
significantly more money which erodes our chance at saving money saving trick
number two is to use automatic deductions for those of us who had no
control over their spending automatic deductions will work wonders if you are
unfamiliar with automatic deductions they work in the following way whenever
you get paid a portion of your pay is withheld from going into your main bank
account typically people will set up a savings account that the money is routed
into which in some cases is not accessible to allow the money to
continue to compound saving trick number three is to imagine your future rich
self sure spending five dollars on a Starbucks Coffee doesn't seem like a big
deal but what if I told you that that five dollars could turn into more than a
hundred dollars by the time you retire you might change your mind right the
next money-saving trick is to imagine your future rich self every time you
consider a new purchase no matter how big or small ask yourself is spending
this money will make you closer or further away from achieving your future
rich life-saving trick number four is to sleep on big purchases sleep allows you
to save money in two separate ways firstly without proper sleep your
decision-making capabilities diminish and the chance of risky or monetary
behavior arises so that car you would not normally consider buying may end up
in your driveway secondly sleep allows you the time to contemplate big
purchases take the evening to sleep on large expenditures and allow your
unconscious mind to process the information related to the purchase and
then analyze it while you're dreaming saving trick number five is to use
only Kosh one of the best money-saving tips is to only spend cash whether
you're buying groceries or a new phone spending cash makes us notice some
monetary effects of our actions this is because as we are paying we are
physically handing over money and we see the depletion in our wallets whereas
when you use a credit or debit card the potential to spend seems almost endless
additionally if you don't want to break a big 50 or $100 bill and you have to
lug around loads of change you may just avoid purchases all together allowing
you to save more money than you ever could when relying on credit cards
saving trick number 6 is to calculate the cost in hours the second last tip is
to convert the cost of your purchases into work hours for example if you make
$20 an hour at your job and in buying that new $100 t-shirt is really 5 hours
of your time ask yourself is that shirt really worth five hours of slaving away
at my job when you begin to see your purchases in this light you'll become
more conscious of how much a personal investment it was during this money
making you think twice before spending frivolously and ultimately allowing you
to save more money over time saving trick number 7 is to generate more
income the truth is your ability to save is restricted by how much you earn if
you currently make minimum wage than saving a lot of money will be next to
impossible and the only way to improve this situation is to find ways to
increase your income for some this may be picking up another part-time job
doing freelance work or increasing your skills to allow you to earn a higher
hourly wage personally I've been able to triple my income over the last four
years by completing my master's degree in getting my CPA designation but I know
accounting isn't for everyone so find what works for you and with this
increase in income in the previously mentioned savings tips you'll have more
money than you'll ever know what to do with thanks for watching if you want to
go from the life you hop to the life you deserve
then hit the subscribe button now
you
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