3 Tips to Trick Yourself into Saving More

The habit of saving has come into focus, both at the collective and individual level these days. Blame it on difficult financial times that cause you to spend more on your needs. While more and more people are getting into the savings game, there is still room for improvement. It gets easier in a few months as soon as you start!

So here are three tips by which you can trick yourself into saving more:

#1: Think of saving as another bill

Consider your savings to be another bill that you are paying every month. Set up separate accounts for different types of savings such as for an emergency, retirement and so on and so forth. Even if it is as small as $ 40 a month, you should be able to save as much as $ 500 a year and make it stretch even further as the years go by. Once you get started, increase the saving amounts every few months.

#2: Forget the Paycheck Raise

If you recently gained a paycheck raise, then it’s time to forget about it as you can increase the amount of money you save every month. In any case, you’ve already adjusted to the cost of living for the year. So, instead of spending it, it will be a good idea to put away this extra money for a rainy day.

#3: Pay yourself when your long term installments are over

Let’s say you have completed paying your installments on your car. Think of yourself still paying those installments and continue to put that money into an account. Well, the very idea of buying a better car with your own money should work as motivation, shouldn’t it?